The Buzz in Southwest

Early this year, Duane Deason was just beginning the Office of Zoning's review process

for his Eric Colbert & Associates-designed residential building on a nearly 20,000-s.f piece of Anacostia riverfront property at 95 V Street in Southwest's Buzzard Point. Now, with Zoning approval secured in early August, seven years after the land investment was made by Deason, he is finally able to focus on the pursuit of "a variety of options including sale or joint venture." The 8-story, 110,760-s.f. building known as "Marina Place" will offer 97 units, with 9 set aside at less than market rate. On the ground floor, on the corner of V and 1st Street, will be 1,788 s.f. of retail space. Below grade will be two levels of parking split up into 108 spaces. In January, Deason said, "The views are phenomenal because its on a point, almost every unit in the building will have an outstanding view of the water." 

Deason bought his plot of Buzzard Point with the inkling that waterfront property was bound to deliver a substantial return on investment eventually, but it's been slow going for development projects slated for Buzzard Point, with any kind of concrete news much anticipated. Of interest to the area is the South Capitol Street Bridge project, to replace the Frederick Douglass Memorial Bridge, which is "finally proceeding forward," said Deason. The new bridge is part of the planned South Capitol Street revitalization effort to turn the thoroughfare into "a grand, urban boulevard... [with] elliptical traffic circle that will serve as open space for future monuments and memorials." The project, part of the larger Anacostia Waterfront Initiative, includes bringing the Anacostia Riverwalk around the Southwest bend. A DDOT project manager for the South Capitol Street Bridge said, "The Final Environmental Impact Statement was approved this summer which provided a preferred alternative conceptual design. We are currently advancing the plans to proceed with the Land Acquisition phase of the project. Construction is currently unfunded." Although DDOT confirmed that the project is going forward, exactly when is vague, and depends greatly on funding. Deason added that one improvement to the Anacostia waterfront area will involve the large Pepco substation located just north of his Marina Place residential building, "The generators are officially decommissioned in March of 2012 which will allow the removal of the large generators and petroleum storage tanks."

A healthy chunk of Buzzard Point currently waiting on development is privately owned by commanding D.C. developer Akridge: the 9-acre "100 V Street." The site is a game changer for the area, and of particular interest, to not just Buzzard Point but the entire District, as speculation continues that a new stadium for D.C. United on a portion of Akridge's three-block property between T and V Street is being hashed out; a deal that would keep the soccer team, now frustrated with its home at RFK stadium, in D.C. Akridge would not comment except to say that murmurs of a deal are "still just speculation." Steven Goff's Washington Post column "Soccer Insider," has an ongoing poll soliciting reader opinion on D.C. United's future, with the last option being: the team will "remain at RFK until the final brick crumbles, pipe bursts, raccoon visits." Goff also grilled D.C. United's president Kevin Payne recently on the search for land and the pursuit of local investors. For the time being, the sole project underway in Buzzard Point is Camden Property Trust's 276-unit apartment building "Camden South Capitol," to the west of the Nationals' Stadium on the corner of O and South Capitol Street. 

Washington D.C. real estate development news

Next at Bat: Camden South Breaks Ground

In two years’ time there will be 276 apartments to rent on South Capitol Street in Southwest, just a foul tip away from the Nationals Stadium. Donohoe Construction, general contractor on the project, broke ground Wednesday on the building – Camden South Capitol – and aims to be finished in late summer of 2013. This should give renters enough time to grab an apartment in time to not see the Nationals in the 2013 World Series.

Pictured: Mark Bucci (Camden), Screech (Nats Mascot), Bob Wilson (Donohoe), Neil Stablow (Donohoe), Greg McCarthy (Nats)

The project, named for developer Camden Property Trust, will rise out of a previously vacant site, nearly the size of the Nats’ outfield. It’s been duly noted that a structure named “Camden” might be more appropriate in Baltimore, a (Nats fans’) stone’s throw from Camden Yards.

The 276-unit building, designed by WDG Architecture, will rise over 10 ten stories and feature a rooftop pool, a courtyard, “high finishes and upscale residences”, three levels of underground parking, and will sport a grey-brick exterior of contrasting textures and colors: smooth vs. rough, and light vs. dark.

These aforementioned features create a view of the buildings, but a view from the building may be even more impressive, according to Sean Stadler at WDG Architecture: one, there may be a view up to the Capitol to the north and the Anacostia River to the south, at least for upper-floor dwellers; and two, the rooftop deck will offer a view into the ballpark, transforming the pool into cheap seats at game time. Reminder: binoculars not waterproof.

According to Susan Goldstein at Donohoe, Camden South is the first multi-family project to get off (or in) the ground in the area for 3 and a half years, and “the Capitol Riverfront BID is working to incorporate this site into the BID.” Also of note yesterday, a win for the Nationals who squeaked by the Phillies for a 2-1 victory.

Washington D.C. real estate development news

Camden to Start Southwest DC Project Next Tuesday

Camden Property Trust will kick off its project on South Capitol Street in southwest DC a week from tomorrow, inaugurating what will be one of the few projects to actually begin construction lately in the littlest quadrant, with the building of a 276-unit rental building across the street from Nationals Stadium. The groundbreaking puts the project on track for a late summer 2013 completion, possibly in time for views of the stadium during regular season play. DC-based WDG Architecture, which also conceived the apartments just north of the ballpark, designed the building - officially called Camden South Capitol - that will take up the now vacant site north of O Street. Developers at Camden say the apartment building will fill a need in the saturated residential market of the Capitol Riverfront, which now has scant vacancy. Foundry Lofts on the riverfront will be open for lease by early fall, though no other residential development will open in the interim. WDG's Sean Stadler notes that the building was being designed in a very uncertain rental market - during construction of the ballpark. "It has a very rich feeling for a project that was in a unknown rental market when it was conceived," says Stadler. Given that, retail space was minimized in favor of a street presence for building services. "We tried to break down the facade...creating a street wall along South Capitol, but at the street the whole thing will break down on a human scale." Stadler says the grey brick is an alternating pattern, smooth and textured, light and dark grey. "So from up close the building starts to break down in scale...at the base, certain pieces pop out that give relief so the facade doesn't just hit the street." Stadler is also confident the apartments "will have great air and light with great views up to the Capitol." Mark Coletta of Camden says the residence will offer a rooftop pool and deck, underground parking, and possibly fabulous views into the ballpark across the street. Camden purchased the property in 2007 and has hired Donohoe as the general contractor. 

Washington DC real estate development news

Camden Readies to Build New South Capitol Apartments

While land development in southwest DC takes on a somewhat leisurely pace for most, some developers think the time is just right, especially if the soil in question is right across from the stadium, which is not really southwest, after all. Such is the case for Camden Property Trust, which is about to start developing a 276-unit apartment building on South Capitol facing Nationals Stadium. The WDG-designed building will take up the now vacant site north of O Street, sparing the historic townhouses along North Capitol, with a very small retail space. Mark Coletta of Camden says the project will break ground in March with a June 2013 completion date, with the timing warranted by the generally full capacity of the adjacent Capitol Riverfront area. "The supply and demand fundamentals are now back where you can start to make sense of new development, by the time we deliver there will be a bit of a [housing] shortage." 

Coletta says the residence will offer a rooftop pool and deck, underground parking, and possibly (no explicit promises here) droolable views into the ballpark just across the street. Most units will have balconies and floor to ceiling glass for Nationals fans to watch the game from their couch and save time spent in an expensive beer line. No matter that southwest is still in its development infancy, just look east, not west. "The entire neighborhood is what you'd call an emerging neighborhood...now you're hoping you can get the retail to come and fill in some of the gaps, then you're going to start to complete the neighborhood....it will be a pretty cool feel on game day," says Coletta. With near southeast nearly at capacity within its completed projects - both commercial and residential - the development of southwest has an obvious logic. And with no other projects south of the Capitol building - SE or SW - near construction, Camden will have the only new building on the market, with enviable marketing exposure to large crowds, new parks all around, and possibly a long bike trail wrapping around it, even if the retail is still wanting. Camden acquired the property in 2007 and has hired Donohoe as the general contractor. 

Washington DC real estate development news

Demolition to Make Way for More Stadium Apartments

Monday, October 29th will be the last day for the old taxi cab repair garage that stands on 1345 South Capitol Street. The site, which was once used by Bell Cab Company, was purchased by Camden Properties in December 2005, forcing Bell to move to its current location on First Street NE. The dilapidated building is to be razed to the ground next week, the latest residential development in the increasingly competitive ballpark area. Camden, a nationwide real estate investment trust based out of Houston, ended the bidding process for construction on October 17th, and is now in the process of deciding who will build the 365,000-s.f. project.

"Our goal for Camden 1345 is to create a residential project that will complement the urban environment of the new stadium and entertainment district," said Topher Cushman, Director of Real Estate Investment at Camden. Cushman added: "The building's open courtyards, unit terraces and rooftop amenities will provide residents with monumental city views as well as outlets to interact with the streetscape." And while a construction firm has not been selected, WDG Architecture - the company that received national kudos for its work on the Sallie Mae Headquarters in Reston, VA will be designing the structure.

The new $105 million development will be a mixed-use property with 3,000 s.f. of ground floor retail and 276 rental units, and is expected to be ready for ground breaking by December of this year. 1345 South Capitol will be the newest addition to a compendium of properties owned and operated by Camden in the DC metro area, including the Grand Parc on 15th Street NW, Monument Place in Fairfax, VA and Potomac Yard in Arlington, VA.

New Apartment Ready to Join Nationals’ Neighborhood

Bringing life to the lot across South Capitol Street from the new Nationals baseball stadium, Camden Properties is planning an 11-story residential apartment building with potential ground-floor retail for 1325 South Capitol Street, SE. Designed by WDG Architecture, the project is rendered as a large rectangular building, with large panels of windows on each corner and balconies at each level. The building’s entrance will feature an eleven-story glass front that stands perpendicular to the lower level retail stores. The 276-unit development will be upwards of 300,000 sf and set back from South Capitol St. by 15 feet to move the development away from the major road. Bounded to the east by South Capitol, the south by O Street SW, to the west by Half Street SW and to the north by N Street SW, the development will provide 204 parking spaces, a gym for residents, and 3,300 sf neighborhood-serving retail space, two stories of which will front the O Street corner.

The project went before the DC Zoning Commission on February 22, and Camden was asked to further outline the “green” steps the project will take as well as its plan for affordable housing, project height, and its proximity to a number of townhouses. According to Ginger Ackiss, Head of Development for Camden for this development, the design review for the project will take place by the end of March, at which point Camden will begin pricing the units and will begin applying for permits at the end of April. The project is expected to break ground in the Fall of 2007.

Camden USA Buys a Piece of NoMa Pie

Last week, Camden USA purchased 60 L St., NE, a 71,000 s.f. site, joining the laundry list of developers vying to join the NoMa development surge. This location has become a hot potato, belonging to three different companies in the last three months. As we previously reported, 60 L St. belonged to J Street Development and was called “First Place”; it was then sold to Tishman Real Estate Services. While Tishman won’t comment on the quick turnaround of land ownership, the lot was then sold to Camden USA, a Houston-based company with projects throughout the Mid-Atlantic and lower half of the United States, which plans to turn the site into a two-building, 700 residential unit project designed by WDG Architecture. Located between Tishman Speyer’s remaining property on L Street and J Street Development’s Property on North Capital St., Camden’s “luxury” apartment high-rises will begin the first phase of construction in mid 2008. Ginger Ackiss, Vice President of Camden’s Real Estate Investments in the DC area, said the first phase will include 315 “luxury” apartments rather than condominiums, followed by 375 units in the second phase. While the project is still in the permit process, Camden is happy to have its foot in the door. Ackiss said, “We wanted to get into NoMa because of all of the development going on there, we see the area transforming and we would like to be in that mix.” According to Ackiss, the DC and Dallas-based architect, experienced in residential properties including the Potomac Promenade Condominiums on the National Harbor, will begin the design process next month.

Apartments Just a Fly Ball Away

With construction of the new Nationals ballpark moving full speed ahead in Southeast along South Capitol Street, a number of new apartment buildings within spitting distance of the field have recently been announced. First up is Camden Property Trust's 1325 Capitol SW project (pictured), located right across the street from the National's stadium between N and O Streets. The $99 million, 210,000-sf apartment project will be nine stories tall and contain 244 units, mostly one bedrooms with an average apartment size of 860 sf. Construction is expected to start Summer 2007. Camden (the owner) has yet to select a developer. Next up are two apartment projects from residential developer JPI: 70 and 100 I Street, a $210 million project with two towers containing nearly 700 units (completion is scheduled for late 2008); and 901 New Jersey Avenue, a $75 million, 238-unit apartment building set for the block now housing the Nexus Gold Club, a "gentlemen's" club (so, uh, I was told...). 901 New Jersey is set to being construction in 2007 with a late 2008 completion date. Finally, there is Faison's planned residential tower at 1st and L Streets SE. This will be a 14-story, 266-unit tower. Construction started last month, and the tower is expected to be done in late 2008. Make sure to glance to your left when driving down South Capitol – you can tell your kids you remember it when it was all empty lots and run-down warehouses....