Florida Ave Jungle to Make Way for Condos

The overgrown lots at 1421-1423 Florida Avenue NW have changed hands several times over the last few years, but finally rest in the palms of a developer intent on moving forward with construction. Originally attracting the interest of Kady Group some time ago, the properties were acquired by Bogdan Builders in 2007 for $550,000, and now the paperwork is all but signed in a deal that sees the vacant lots into the arms of Sassan Gharai, founder of SGA Companies. In September, Gharai presented his plans for a six-story, 16-unit condominium to the Meridian Hill Neighborhood Association, and last month Chris Colross of SGA Architects presented his firm's plans to the Historic Preservation Review Board (HPRB). The Board adhered to assigned reviewer and preservation specialist Eldra D. Walker's recommendation to "approve the proposal in concept, delegating final approval to staff."

Rising 60 feet, the masonry clad apartment building will stack ten 2-bedroom/2-bath units and 4 studios atop an eight-space ground-floor garage. The roof of the garage will support a first-floor terrace garden, and each unit will feature either a full or Juliet balcony. While the proposed setback penthouses and an 8-to 12-foot elevator overrun are not counted toward a building’s height and do not require a zoning variance, the project still must go before the BZA, as the parking garage will require the frequently unpopular curb cut on Florida Avenue, resulting in the loss of one parking space (gasp).

Fitting snuggly into the rapidly transformed Greater U Street Historic District, SGA offers their staple - a traditionally inspired design sampling materials found throughout the storied neighborhood: brick, 2/2 windows, stone accents, and metal panels. "The building’s front, side and rear elevations will be fully articulated with ordered fenestration, brick pilasters with stone caps, and horizontal bands of stone," explains Eldra D. Walker, while "large recessed brick panels and a modern embattlement will crown the new structure." Despite the building's height, Walker found the architectural aesthetic to be "understated, calm, and residential in character."

Gharai seems to have his hands full designing and developing as of late, with news that his long-delayed Ecco Park is "back on track." Since Gharai delivered the Butterfield House in 2008 in the market has seen better days, to say the least, but some developers apparently smell a recovery. Quoted recently in the Takoma Park Newsletter, Gharai explained the significance of his decision to kick the 235 Carroll Street NW project back in gear: “I think what it shows is the market’s finally coming around because the banks are willing to lend again.” His optimism must also be the inspiration behind his plans to acquire and develop the lush Meridian Hill property, and hopefully a sign of more good news and development activity to come.

Washington D.C. commercial real estate blog

Justice Park Showdown

Four development groups are vying for the opportunity build new residential on the site of the former Justice Park, a 12,000 s.f. parcel at 1421 Euclid Street N.W. in Columbia Heights. At an ANC meeting yesterday, teams presented their visions and their reasons to "pick me," though the plans all essentially create the same affordable residential product. As the developers compete over design, community benefits and financing capabilities, one group has less-than-subtly accused the rest of making empty promises. Though that sounds a lot like hot air, it gets to the core of an issue raised by our readers in response to DCMud articles on recent RFP awards and the opaque selection process for winning projects. It will be interesting to see if such a message resonates with the community and if it effects a change in the selection process in the Mayor's office. We're doubtful.

The Argos Group/Potomac Investment Partners joined forces with Sorg Architects and Ellisdale Construction to present a condo building with 34 units, 12 of which will be affordable. The futuristic, Jetson-like glass design will be built to LEED standards and offer 40 parking spaces. The team boasted local credentials and a relationship with the Fraternal Order of Police; we don't know what that has to do with getting the bid but it sounds impressive doesn't it? In the 30-slide presentation, the group did not discuss how the project would be financed, save for one bullet point, on the 29th slide, citing "financial capabilities." Hmm, doesn't quite ooze confidence.

Next up is the Euclid Community Partners, comprised of Dantes Partners, Perdomo Group and Capitol Construction Enterprises. The group proposes 37 units - all affordable rentals - for households earning at or below $60,000 a year. The spin for Euclid was that there are plenty of available luxury condos for high-earners nearby, but not enough workforce housing; they are filling a need in the community. The development team also boasts an available, self-financed $550,000 pre-development budget, claiming that the project would not require District funding. Now that's something to give pause. Dantes had luck on another RFP recently as part of the West End Development project team.

Now, for the self-proclaimed heavy hitter: Mosaic Urban Partners, Bogdan Builders and Bonstra Haresign Architects. The team promoted plans for their "Justicia" (ick, try again), a 27-unit, four story residential building with 8 "income restricted homeownership units." The Justicia team tried to rattle the competition in a two-fold strategy. First, by raising concerns about other groups' abilities to finance and deliver on projects, especially in these tough economic times. Bogdan claims they have abilities, pointing to their Logan Station project, which finished sales in 2009 - a tricky point, since they actually finished build-out in 2007, well before construction financing dried up. Mosaic also argued that a smaller project, like theirs, does not require any zoning approval and is therefore a better bet than one that does. Fair enough, though the competing designs could gain ANC support and probably will not make too many waves during zoning review.

Finally, the Neighborhood Development Company (NDC), with partners Hamel Builders and PGN Architects, propose a 39-unit, 5-story condo building. The project would offer 12 of the units as affordable and boast LEED Silver design elements. The only team to give a timeline, the NDC team indicated the project would require a zoning change, meaning the building would likely deliver during the first half of 2013. NDC has delivered projects like The Residences at Georgia Avenue during the financing crunch, though the team did not indicate whether or not it would require District funding.

According to the timeline on the website for the Deputy Mayor for Planning and Economic Development, a winner should be announced this month.

Washington DC real estate development news


Correction: The developers pointed out to DCMud that though the Logan Station project finished in 2007, their Cityscape on Belmont project was financed and sold out during the crunch. 

New Condo Opens in Columbia Heights

A new condominium will open its doors this weekend when the Cityscape on Belmont condominium in Columbia Heights opens to the public today. Bethesda-based Bogdan Builders started construction on the 28-unit building in September of last year, and expects settlements before the end of the year. Located at 1330 Belmont Street, NW, the building will feature ceiling heights from 10'8 to 15'4, traditional interiors, and limited outdoor parking, with prices to start at $384,900. The wood frame construction features an exterior skin of brick on the facade, and while it's not "another architectural masterpiece!" - the predictably hyperbolic realtor-speak of the sales team - it does sit on the hill in Columbia Heights, giving it views of the city from the rear. Half the new condos will be on one level, the other half on two, a few with private roof decks, and each with exposure on the north and south facades. Cityscape on Belmont, known until now as Belmont Vista, was designed by Zahn Design. Bogdan purchased the land four years ago in a deal struck nearby at the MacDonald's at 14th & U (ew.) Bogdan's newest project joins a chorus of adjacent developments in what adds up to a busy construction site, all now under construction, including Level2's View14 (170 residential units), the Solea (59 units), and the Nehemiah Center, which has just begun demolition, to be eventually replaced by a large apartment building, all within feet of the entrance of Cityscape. Bogdan's self-proclaimed style is "suburban style" in the city, having previously built sprawling houses in Potomac; recent examples of their urban handiwork are available at Logan Station, the Villaggio, and the Ivy at Harvard.

Washington DC retail and construction news

Logan Station Completes Sales

Bogdan Builders' Logan Station officially finished sales with its final settlement last Friday. The 63 condominiums at 1210 R Street, NW, in the Shaw neighborhood, began sales in March, 2006, but most sales occurred after construction completed in August of last year. The new four-story building with a green roof replaced a vacant lot at R Street and Vermont Avenue, and features townhouse style units with private entrances on the first floor, with flats on the upper units. The project was Bogdan's largest to date. The Bethesda-based developer previously completed the Ivy at Harvard (14 units) and Villaggio (14 units), and is currently putting the final touches on Belmont Vista, a 28-unit building in Columbia Heights. Designed by Eric Colbert and built Bogdan's own construction team, Logan Station was priced originally from mid $300k's, with two-bedroom condos from the high $500k's, and penthouse units in the $700's. Logan Station was financed by Sandy Spring Bank.

Washington DC commercial real estate news