Showing posts with label Altus Realty. Show all posts
Showing posts with label Altus Realty. Show all posts

Monday, November 05, 2012

HPRB Approves Two New Buidings for Blagden Alley

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Slowly but surely, Shaw’s Blagden Alley neighborhood is growing. Two new developments proposed by Altus Realty Partners will fill in a couple of empty lots in the historic district and are now one step closer to reality—though a completion date is anyone’s guess.

Building at 1212 9th Street
On Thursday, DC’s Historic Preservation Review Board looked over proposed designs for the buildings by PGN Architects. One, at 1212 9th Street, will be four stories tall and include a small ground floor retail space; the other will sit at 917 M Street, but its longest side will run along the alley. HPRB approved both projects, leaving smaller details to be worked out with the Historic Planning Office staff.

At this point, both developments are in the very early stages, so details like whether the buildings will include condos or apartments, or how many units each will hold, are still up in the air. As for an estimated timeline for next steps, “it’s pure conjecture,” said Charlie Kehler, a principal with Altus. This stage is very much about design.

1212 9th Street, from the south
The four-story building on 9th Street is relatively straightforward. Filling in a vacant lot between Squares Fashions and a string of row houses, the building’s 9th Street façade will be clad in buff brick, with a stepped back central bay and a top floor of glass and aluminum. The ground floor would include shop windows topped by a steel canopy; above would be two floors of residences, plus a penthouse set back by about four feet. Just south of the building runs an alley, which residents would use to access parking.

The HPRB had a few comments about the height of the penthouse and whether the alley would be wide enough to regularly accommodate cars, but the board unanimously approved the design.

Building at 917 M Street
The second building is a bit more complicated. In an effort to complement the decorative Second Empire row houses that lie along M Street just west of 9th Street and just east of the proposed building, the architects gave the development’s M Street façade three vertical sections alternately made of block, glass and brick. Turning the corner, the long side along Blagden Alley uses the same materials—and includes a three-story glass gallery—though with more of a horizontal orientation.

The design incorporates an existing historic one-story garage on the alley. The developers are planning on excavating to create underground parking, and the new building would rest on top of part of the structure.

917 M Street building seen from west
HPRB members expressed some concern that, while the side of the building appears to be sufficiently industrial to fit with the alley’s overall aesthetic, the front is a bit too stark to complement the row houses. “It’s a blank cypher—I’m not sure what you’re trying to capture,” said HPRB member Nancy Metzger. Still, the group approved the design, leaving the developers to work with HPO to iron out any final issues.

Kehler was pleased with the decisions and said Altus is excited about the area. “We love the neighborhood’s identity,” he said. “We think it’s where DC will be focused in the future.”

Washington, D.C., real estate development news

Monday, October 29, 2012

Adams Morgan Condos Release New Renderings

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Developers have released new renderings of the condos that will take up the largest vacant lot on Champlain Street.   Federal Capital Partners and Altus Realty Partners will break ground shortly on a 41-unit condominium at 2337 Champlain Street, NW, in Adams Morgan.  Designed by PGN Architects, the renderings show a contemporary structure with a split facade adjacent to the former brass knob warehouse.


Washington D.C. real estate development news

Tuesday, October 16, 2012

Champlain Street Condos Set to Break Ground

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One of the very last infill sites on Champlain Street in Adams Morgan is set to begin a transformation into a condo building in the next sixty days.
Presently a surface parking lot, the site at 2337 Champlain Street NW is being developed by Federal Capital Partners, in conjunction with Altus Realty Partners.  Designed by PGN Architects, the first renderings released to the public show a modern steel-and-glass complex that's very much similar to the neighboring condo building on Champlain, such as the Lofts at Adams Morgan, and Adams Row.

"The project on Champlain has not been named yet," according to Karen Widmayer, spokesperson for developer Federal Capital Partners.  "The project will have 41 condos with on-site parking in garage and surface lots.  It's scheduled to break ground prior to the end of the year, pending required approvals."

Federal Capital Partners acquired the site in July 2011 for $3.55 million, from WWYP LLC, who acquired it back in June 2005 for $1.9 million.  The condominium will take up the vacant lot next to the former Brass Knob warehouse, which is has also been the subject of redevelopment efforts, but will not be incorporated into the old warehouse.

Washington D.C. real estate development news

Friday, July 22, 2011

FCP Plans Condos on Adams Morgan Infill Site

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CBRE Commercial Real Estate, Adams Morgan retailAdams Morgan will get another condominium project - likely within the next two years - on the now vacant lot at 2337 Champlain Street. Federal Capital Partners (FCP) purchased the property yesterday and plans to build up to 40 units on the site.

The fully-entitled residential development site, adjacent to the adaptive reuse project (at 2329, 2335) (currently seeking a new owner) will be developed by FCP in conjunction with Altus Realty Partners. Of the sale, Altus principal Charlie Kehler said, "[w]e’re really excited, it’s one of the last infill sites on Champlain Street."

"We’re going to try to bring this to market as soon as we can,” stated Kehler, of the project which aims to begin construction in the spring of 2012. "We're interviewing architects [currently]." Once selected, the chosen architecture firm will design a complex offering "somewhere between 36 and 40 units, that will range from 500 to 900 square feet."

Of the location, Kehler added, "It's proven to be a strong market." He expects the condos to command "$550 to $600 per square foot." The $3.55 million sale was brokered by Scott Frankel of CBRE and Bruce Levin of MAC Realty Advisors. According to DCRA, WWYP LLC had purchased the property in June of 2005 for $1.9 million.

FCP is a local real estate investment company with over $2 billion in assets acquired since 2003. Altus operates out of Arlington and invests primarily in the greater-D.C. area.

Washington D.C. real estate development news
 

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