Wednesday, October 01, 2008

Donatelli Downsizes Petworth Metro Building

Donatelli Development, Georgia Avenue, Petworth, WMATA, Willco Residential, Washington DC retail for leaseDevelopers Willco Residential and Donatelli Development are moving forward withDonatelli Development, Georgia Avenue, Petworth, WMATA, Willco Residential, Washington DC retail leasing their initiative to revitalize a stretch of Georgia Avenue marred by vacant lots and blighted businesses. Billing itself as “the first luxury, boutique residential property in the Columbia Heights/Petworth neighborhood,” the project located at 3801 Georgia Avenue NW will - according to a BID issued by Donatelli on September 22 - feature 12 rental units of 1 or 2-bedroom, 850 square foot apartments. Additionally, the concepts on hand call for the construction of a “sit-down” restaurant and 5,000 square feet of retail space. Donatelli Development, Georgia Avenue, Petworth, WMATA, Willco Residential, DC real estateThis announcement marks a change to the initial plans that projected 49 residential units and space for only 1 to 2 retail outlets. Now that the scale of the building has been pared down, the developer is posting no requirements for affordable housing and, as such, “will offer luxury urban living at lower price points than larger competing luxury properties.” Accordingly, they expect a successful leasing effort and a low vacancy rate from the get-go.Christopher Donatelli, President of Donatelli Development spoke to the reasoning behind the loss of the residential space. “Anytime you have an empty lot like that you can come in with a quality development is a good thing,” he said. “We’re going to get some retail in there…Trying to get a good development there at the Metro seems to make a lot of sense.” The new building is directly across the street from Donatelli’s 161-unit Park Place development above the Georgia Avenue/Petworth Metro - due for completion this winter - and is being designed by architects Eric Colbert & Associates (see DC Mud's previous coverage of Park Place). The project is expected to go to ground in May 2009.

Washington DC commercial real estate news


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