Last week, PN Hoffman purchased 1700 14th Street, sealing the rumor that the Verizon building would likely become a condominium project with ground floor retail. In a development environment that's only recently become feasible to build after the recession dried up financial resources, that the building is slated for condos as opposed to apartments speaks to the desirability of the 14th street corridor.
Eric Colbert & Associates has been selected for the design. "We haven't gotten very far yet," Trevor Costa, associate for the firm said. "We submitted something preliminary a while ago, but we're currently reworking aspects of the design now." Eric Colbert & Associates is the firm behind The Lofts at Adams Morgan, The Floridian, and The Regent, among others.
"It's a small but very unique building," said Shawn Seaman, Vice President of PN Hoffman. "Given its size, we are projecting it will have 30 to 40 units by the time we finish." Seaman said the company is hoping to push the permits through as quickly as possible for a 2012 delivery.
As far as the ground floor retail, Seaman said the 1,000 s.f. space will house a single tenant. "We are talking to our historical consultants about restoring the ground floor in particular by opening up the bays to R Street and 14th Streets. Right now, it's very heavy."
The PN Hoffman condos will become one of several within blocks of each other, the others of which include the seven-story, 30,000 s.f. building at 14th and R, a project by developer Habte Sequar that has long been planned but has yet to get off the ground. Also on the 14th Street corridor in the former Whitman-Walker site is JBG and Grosvenor's 125-unit District Condos that is scheduled for completion in 2012. The project also has yet to start construction, but is expected to do so soon. The original picture in this story was from Borderstan's coverage of this project.
Washington, D.C. real estate development news