tag:blogger.com,1999:blog-22305958.post7993266484831374061..comments2024-03-25T18:50:15.135-04:00Comments on DCmud - The Urban Real Estate Digest of Washington DC: New Yorker Back on TrackKenhttp://www.blogger.com/profile/08295461340042242438noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-22305958.post-29777037256614739432007-09-30T21:12:00.000-04:002007-09-30T21:12:00.000-04:00any more word on senate square? i signed a contrac...any more word on senate square? i signed a contract there almost 2 years ago (yes, top of the market) and the sales center was supposed to re-open on sep 24. <BR/><BR/>still closed. not returning calls. what's the deal?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-22305958.post-12064644110239931762007-09-05T10:57:00.000-04:002007-09-05T10:57:00.000-04:00The project is going to convert at least 1 if not ...The project is going to convert at least 1 if not both towers to apartments. Typical out of town (NYC) developer mistake - hit the market totally wrong, with way too many units all at once, in a newly developing area. With 1 tower they could have sold out and then moved on to the next when the market was right, and as the neighborhood stabilized. Pigs get fed, hogs get slaughtered. Now they're sinking because their carrying costs are too great to wait on selling their remaining units and we, the neighborhood, will likely get all apartments and no condos.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-22305958.post-57097015901254740582007-08-30T07:45:00.000-04:002007-08-30T07:45:00.000-04:00I think the figures on Senate Square were about th...I think the figures on Senate Square were about the entire project -- i.e. one of the towers was completely sold but only 40% of the remaining tower was, adding up to 70% of the entire project for the two towers. Plus the Abdo renovation of the Children's Museum itself has still not been released.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-22305958.post-32181836683993595572007-08-28T18:35:00.000-04:002007-08-28T18:35:00.000-04:00well, that's what they told me when i asked them (...well, that's what they told me when i asked them (although now it has been some weeks).<BR/><BR/>either way, they haven't halted construction, i know. i live on parker st. and have to deal with it *every* day. <BR/><BR/>i had also read on another blog (can't remember which) that they were 75% sold out from what they were told. maybe i/we heard wrong, and that they were 70+% reserved? dunno. anyway, i'll have to stop by and ask someone who will give it to me straight...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-22305958.post-49173391211313551722007-08-25T13:30:00.000-04:002007-08-25T13:30:00.000-04:00I live on 3rd between I & K next door to Senate Sq...I live on 3rd between I & K next door to Senate Square and I spoke with a sales agent last week. They are 40% sold, expect to start moving people in in November and they are currently not selling units because they are refinancing from a construction loan (because major construction is done)to a residential loan (or whatever they call it) because it's much cheaper than a construction loan. Once they refinance and know what their interest rates will be then they can set pricing accordingly and decide things like whether or not parking spots will be included in prices or sold seperatley etc....Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-22305958.post-18786565961803343192007-08-22T20:09:00.000-04:002007-08-22T20:09:00.000-04:00I don't get it. I live next door, and have to deal...I don't get it. I live next door, and have to deal with the construction every single day (today was nasty!). They're wrapping things up, and from what the guys at the sales office say, they will deliver in October.<BR/><BR/>Maybe they're lying, or being over optimistic, but believe me - if it's on hold, they should probably tell all the construction workers to go home. They're levelling the ground on 2nd and 3rd steet, and apparently are going to put in a bunch of pear trees in the next month. <BR/><BR/>This all coincides with the 2nd street revitalization that cost about $6.25 million.<BR/><BR/>When Union Place had the groundbreaking, I met several couples that had left the sales office that said they were moving in.<BR/><BR/>I don't think I'm biased because I live next door. I'm just going by what folks 'in the hood' and 'in the sales office', and 'the workers' are saying.<BR/><BR/>I mean... I hope your wrong and I'm right (no offense), but it's pretty pumped up in these quarters of the district....Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-22305958.post-58028632035110489952007-08-22T17:19:00.000-04:002007-08-22T17:19:00.000-04:00No, they are not 78% sold out, I'm afraid. I have ...No, they are not 78% sold out, I'm afraid. I have nothing but good wishes for their pioneering spirit there, and their prices are very reasonable for what you are getting, and the interior design compares well to much of the new development that has recently completed, but the project is currently on hold.Kenhttps://www.blogger.com/profile/08295461340042242438noreply@blogger.comtag:blogger.com,1999:blog-22305958.post-73523055555170550932007-08-22T17:02:00.000-04:002007-08-22T17:02:00.000-04:00I dunno. The last I heard, Senate was many months ...I dunno. The last I heard, Senate was many months ago, and they were 78% sold out. It's nice to be next to the metro, and at those prices, it's worth it not to have to commute from the burbs, methinks.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-22305958.post-69585965856703086542007-08-22T16:43:00.000-04:002007-08-22T16:43:00.000-04:00Senate Square is asking too much $$ for their unit...Senate Square is asking too much $$ for their units ($300K+). For the same money, you could live in a developed neighborhood.gplivinghttps://www.blogger.com/profile/01273198410773111213noreply@blogger.comtag:blogger.com,1999:blog-22305958.post-12399777732488178972007-08-22T11:49:00.000-04:002007-08-22T11:49:00.000-04:00Yes, Harris Teeter was supposed to go in at 3rd an...Yes, Harris Teeter was supposed to go in at 3rd and H, but backed out. That project is likely to be an apartment building, but I think the lack of progress at Senate Square has scared the money away.Kenhttps://www.blogger.com/profile/08295461340042242438noreply@blogger.comtag:blogger.com,1999:blog-22305958.post-67656128385649352532007-08-22T11:40:00.000-04:002007-08-22T11:40:00.000-04:00This is great news! I had been wondering about tha...This is great news! I had been wondering about that site. They used to have a sign up, but it fell down years ago. The re-styled development sounds like an excellent fit!<BR/><BR/>There's also Union Place right across the street from this development.<BR/><BR/>Next stop, the Uline Arena, and moving north, the Florida Market.<BR/><BR/>Moving south, there is the property at 3rd and H St. (north side of H) - they're waiting to sign an agreement with a grocer before they break ground, and are in talks with Trader Joe's.Anonymousnoreply@blogger.com