A nearly vacant lot at the corner of 11th and V may soon be ready for a makeover now that developer Habte Sequar of Loford LLC has purchased the land with plans for a new residential building. The as yet unnamed development is to provide 40 1-and 2-bedroom units, but as far as whether they'll be condos or apartments, Sequar said it's too early to say.
Sequar told DCMud he bought the property several months ago from Quality Investments, and that Loford is working on design in-house, with the intention of naming an architect further along in this process. Though Sequar says he hopes to wrap things up within 18 to 24 months, he's being optimistic. It's taken nearly ten months to submit the raze permit: The date written on it says April 2010, yet the Historic Preservation Office claims to have received it earlier this month.
Loford's past work includes The Josephine Condominium at 440 Rhode Island Ave., 20 newly built condos on the market since 2009 that are still selling. Loford also purchased 1638 14th Street, which DCMud reported is to become a seven-story, 30,000 s.f. condominium to be built atop a 6,000 s.f. parking lot at the corner of R and 14th. No word on progress for that development, which has been on hold since at least 2009. Public records show that 2101 11th Street traded in August of last year, when Pierce Investments sold it for $2.7m.
Washington DC real estate development news