Barracks and Castles and Gardens

On Thursday night's calendar of the Historic Preservation Review Board (HPRB) is a plan regarding the ongoing construction of an 8th Street Bavarian beer garden at 720 L Street S.E., on the heels of last month's raze application from the National Community Church for the Miles Glass site at 8th and Virginia, where it plans to build what will amount to its headquarters.

While these may represent ordinary changes in Barracks Row, it's the beginning of a series that will include the transition of behemoth The Blue Castle - formally known as the Navy Yard Car Barn - a 99,000 s.f. space that its developers intend to eventually turn over to retail.

This significance of the change on the street is not taken lightly. Even The New York Times had taken notice last month.

The building, purchased for $25 million by Madison Marquette in 2007, now 100% leased, currently houses social service providers and charter schools. "We don't want word to get out there that we're changing something soon because we don't want to scare the tenants," said Retail Director Christina Davies of the Madison Marquette retail group. "They're great tenants."

And yet retail for the neighborhood has always been in the plans. The Blue Castle allows for a massive influx of retail to the area without having to build new construction. In its former life, the building was built in 1891 as the repair center for trolleys and street cars.

What is Madison Marquette waiting for? "The right tenant," said Davies. In the meantime, superstores and smaller businesses are actively courting the developers, they say. "We have the option for both," said Davies. "We can lease to a series of restaurants and banks, for example, or a big box client. We just haven't decided yet."

Davies cites high ceilings as a draw for superstore retailers or, say, a gym. But folks from the Barracks Row Main Street would prefer "vibrant ground level tenants," said Martin Smith, Executive Director for the organization. "We would like to see retail that engages with passers-by," he said. "That traditionally does not include big box stores. There are two levels to the building, however, which may be a terrific place for a big box tenant." Columbia Heights' DCUSA serves as an example, with smaller retail at street level, with Best Buy and Target on upper levels.

Earlier this year, Madison Marquette, ICP Partners LLC, Barracks Row Main Street and Capitol Riverfront District discussed possibilities in zoning changes for various projects. While all storefronts facing historic 8th Street SE will remain at 45 feet in accordance with the zoning overlay, Smith noted the possibility of back-end building expansions of 65 to 85 feet in height on a per project basis, amendments that would allow for bigger clients.

Also in discussion is a second restriction in the overlay of Barracks Row which requires that no more than 50% of available street frontage is allowed to have a liquor license. "This may not be a problem now, but it could be as we move forward," said Smith.

Washington, D.C. Real Estate development news

Bridging the Waterfront in Southeast

Everyone loves a great bridge. Planners in southeast D.C. will capitalize on that sentiment as they begin work on a bridge, possibly as early as this week, that will extend the Anacostia riverwalk between Diamond Teague Park and the Park at the Yards. The 611 foot structure will surmount the DC Water facility now dividing the two parks, furthering the pedestrian path that will eventually parallel the Anacostia River and wrap around Buzzards Point, connecting northeast D.C., the southwest waterfront, and the tidal basin.

The bridge - a slightly arched, elongated pier with wood planking and steel cabled rails - is being designed by Paul Friedberg of MPFP LLC, a New York landscape architecture and urban planning firm that designed the neighboring park and eye catching footbridge, both completed last year, which have achieved both critical acclaim and public success.

MPFP Managing Principal Rick Parisi says the new span, a pier with piles, will feature an Ipe deck to match the boardwalk, with stainless steel cable rails, gently arcing from elevation 13 (above median water line), rising to elevation 18, and sloping back down to elevation 7, allowing service boats to access the O Street pumping station, where DC Water manages overflow from sewers and rain. The incandescently lit pier will offer wayfarers an overlook opposite the pumping station with interpretive graphics, some in the ground, some in vertical planes. Parisi says the graphics will "talk about the use of water and history of DC water, improving the quality of water and uses of water today." The architect says work could start as soon as this week, as piles have to be completed by end of March, before the start of spawning season (for fish, not architects).Though the bridge will enhance park aesthetics, the ultimate goal is linking the piecemeal trail along the riverfront and its federal, District, and private property owners. The capitol riverfront trail has already opened between Benning Road and the 11th Street Bridge, the next obstacle is the Navy Yard, where the trail is built but not yet open to the public.Claire Schaefer, Deputy Executive Director for the Capitol Riverfront Business Improvement District, says the bridge "will start to create that feeling of promenade." Soon pedestrians will be able to stroll from the old soccer stadium to the new baseball stadium and on to the new soccer stadium in Buzzards Point without ever leaving the waterfront. Well, maybe. The newest installment of that promenade is being cosponsored by the D.C. government, DC Water, and Forest City.
Bridge photo courtesy Capitol Riverfront Business Improvement District

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Canal Park Underway Next Week

Work on southeast DC's grand Canal Park will get underway next week, as general contractors begin the construction of the 3-block urban park that will be a centerpiece for the ballpark (Capitol Riverfront) neighborhood "by February 15th." District of Columbia officials and representatives Canal Park Development Association had anticipated an earlier start date and 2011 completion date, and held a kick-off party last August, but "financing issues" have delayed construction, until now. The 3 acres of landscaping will offer "a stunning urban park on the site of the historic Washington Canal" with a variety of water features, a large pavilion/restaurant (LEED Gold or Platinum certified) designed by Studios Architecture and two smaller pavilions, 2 large fountains, wintertime ice skating rink, rain garden, multiple lawn spaces, an electric car charging station, and bicycle racks. The park will also collect and recycle its own rainwater and that from the neighborhood and nearby buildings, filtering through its rain garden for use in fountains and ice rink. Last summer the CPDA selected Davis Construction to build out and Blake Dickson Real Estate to locate a restaurateur for the park's pavilion. Philadelphia-based OLIN is the landscape architect. Chris VanArsdale, Executive Director of CPDA, says the financing and permitting issues of yore have been worked out, allowing CPDA to issue a work order to Davis next week with construction immediately thereafter and completion expected next spring. The District is ponying up $13.5m of the estimated $28m development tab. William C. Smith & Co., one of the early developers in the area, is providing in-kind support and an undisclosed amount of financial assistance. VanArsdale says that the difficulty in obtaining approval was caused by financing using the new markets tax credits. The federal government owns the land in arrangement that gives control to the District, which in turn has a 20-year agreement with the Canal Park Development Association to develop and manage the land. The canal that once ran across the site connected the Anacostia to Tiber Creek (now buried under Constitution Avenue), which ran to the C&O canal.

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Canal Park Party Scheduled for Tuesday

Work on southeast DC's grand Canal Park will be set in motion on Tuesday, at least officially, when the District holds a formal ceremony to celebrate the new park that will grace the Capitol Riverfront neighborhood a few blocks from Nationals Stadium. Actual construction has not yet been scheduled, but the park's caretakers are showing progress, having just selected Davis Construction to build it and Blake Dickson Real Estate to locate a suitable restaurateur for the pavilion on the park's southern end. The 3-acre park will offer a variety of water features, but its most iconic feature will be the pavilion designed by Studios Architecture. Wayne Dickson of Blake Dickson Real Estate notes that Canal Park will be an environmental improvement as well as an aesthetic one, and projects that the Canal Park Development Association will select a "family-oriented" restaurant that offers positive synergy with its green locale. Despite the lack of hard start dates, promoters are sticking to a late 2011 completion date . The design incorporates a boardwalk, "rain garden," three pavilions, ponds, a large fountain, sunken amphitheater, and seasonal ice rink The District is picking up a $13.5m tab to ensure the success of the park in what is destined to become the centerpiece of the neighborhood. The bill is a relative steal compared to what DC spent on the stadium next door, and the Lerners can't even charge for admission. Total costs for the project have not yet been determined. William C. Smith & Co., one of the early developers in the area, is an organizer of and contributor to the park development association. Philadelphia-based OLIN is the landscape architect for the project. The federal government still owns the land in arrangement that gives full control to the District, which in turn has a 20-year agreement with the Canal Park Development Association to develop and manage the land. The canal that once ran across the site connected the Anacostia to Tiber Creek (now buried under Constitution Avenue), which ran to the C&O canal. 

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Canal Park Plans its Debut in Southeast

DC's Capitol Riverfront neighborhood near the ballpark may have its skeptics, but it remains the only neighborhood with a riverfront presence, and now may add to its credentials the most active public urban design in the city. Having heretofore suffered the indignity of lacking a real park despite ample vacant land, planners expect to start work within a month on Canal Park, a 3-block, 2-acre stretch of parkland that juts north from M Street. The city is just putting the finishing touches on its waterfront park as well.

 

Chris VanArsdale, Executive Director of the Canal Park Development Association (CPDA), says work will likely begin on the site by "late July or early August," notwithstanding the fact that permits have not been issued and a general contractor has not yet been selected. VanArsdale says the CPDA issued a Request for Qualifications for the construction work, followed by a Request for Proposals, and is now waiting for those responses. Completion is expected in late 2011. Each park block will have a distinctive design, with a shaded boardwalk that runs the length. Green features include a linear "rain garden," combination of large and small open spaces, three pavilions, an urban plaza, and prominent water features like ponds, fountains and seasonal ice rink. The rain garden will act as an on-site water collection, treating and reusing stormwater runoff. The open green space between K and I Streets could be used for movies or concerts, with seating room for 500 and standing room for 1,200 accommodated by a sunken amphitheater. A two-level pavilion (pictured above) will serve as an observation area and cafe with outdoor seating. Canal Park replaces what was once bus and car lot, and more recently a Kansas-flat strip of lawn. Development of the land into a green space, first conceived in 2000, has been stymied by changing control. 

The land was first given to the Anacostia Waterfront Corporation, which drew up plans for a park, but the AWC was disbanded by the government and not until May of 2008 did DC transfer development rights to the CPDA. The CPDA then started anew by replacing the design team with Philadelphia-based OLIN; Studios Architecture designed the pavilions. While the feds still technically own the land, the District controls the property by way of a "jurisdictional transfer," which VanArsdale says gives the federal government a right to redeem the land, which it "rarely, if ever" does. The CPDA has a 20-year license to develop and maintain the park; the District will pick up most ($13.5m) of the $15m in construction costs for the project. The National Capitol Planning Commission gave an initial approval to the plan in October of 2009, and gave final approval in June. The canal that once ran across the site connected the Anacostia to Tiber Creek (now buried under Constitution Avenue), which ran to the C&O canal. 

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Anacostia River Park Unveiled Today

The District's $8 million Diamond Teague Park project officially opened today after breaking ground a little over a year ago. At 10:45 am today (11:15ish Fenty Standard Time), the Mayor and his entourage of Fenty for re-election volunteers gathered together with Earth Conservation Corps volunteers and Florence and Ivory Teague - parents of the slain teenager for whom the park is named - for a grand opening ribbon-cutting ceremony.

Located at First and Potomac SE on the Anacostia River, Diamond Teague Park's first steps toward fruition began when Mayor Anthony Williams facilitated jurisdictional control of the land and the defunct Capitol Pumphouse from the Federal government and into the hands of the District in 2006.

Before his murder in October 2003, 19-year old Diamond Teague served as a member of the Earth Conservation Corps, a non-profit organization committed to engaging youth in "activities that restore and clean the Anacostia River and surrounding communities." As part of its agreements with the District, Coastal Properties, a commercial dock operator, has agreed to hire students from the Corps to help maintain the park.

The park's two piers include a 250-foot commercial pier for the water taxi service that became available last summer and a 200-foot pier for docking kayaks and canoes. If funding comes through without a hitch, a concrete and steel, pyramid-shaped memorial designed by Byron Peck of City Arts could be showing up at the site by late October of this year. The Landscape Architecture Bureau designed the project.

Although the park is largely funded by the District, Maryland-based developer Florida Rock shelled out $800,000 toward the project as part of the community benefits agreed to in the PUD for it's neighboring RiverFront on the Anacostia development.

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20 M Street SE Secures Booz Allen Hamilton Lease

The underdog southeast ballpark neighborhood has something to boast about today: 20 M Street, SE secured a lease for nearly 30,000 s.f. from Booz Allen Hamilton, bringing building occupancy up to 70%. While other potential projects sit as big gaping holes, Lerner Enterprises and WDG Architect's 20 M Street has scored a series of victories in snagging leases from the General Services Administration, Bureau of Land Management (BLM) and now from a coveted private entity. Both the BLM and Booz Allen Hamilton will move into the neighborhood this year; Booz Allen Hamilton will be the cool kids on the top floor.

The 10-story, 190,000-s.f. office building contains four levels of below-grade parking, 10,971 s.f. of retail space and was the first LEED Gold certified building for core and shell in the District. The building sits across from the Navy Yard Metro and a block away from Nationals Park. Hmm, who wants to bet how many season tickets Booz goes in for this year?


Washington, D.C. real estate development news

The Joy of CSX: Capitol Hill Braces for Big Dig

Thanks to expansion of the Panama Canal, Capitol Hill may be about to get its own Big Dig - a $174 million capital improvement project that will unearth the long-buried tunnel south of the Capitol Building to widen and deepen the antiquated freight line. For those that miss the obvious connection between Panama and DC, the $5 billion overhaul of the Big Ditch in Panama will now make it easier to ship cargo from Asia to the Gulf of Mexico, and from there into the midwest via rail lines, beating out formerly dominant west coast ports as the cheapest point of entry into the American interior. That is, if the rail lines can handle the increased cargo. Which brings us back to Capitol Hill.

In 2008, freight-hauling giant CSX, which owns the tracks that cross the Potomac and mole beneath the Capitol, launched its National Gateway project to improve the capacity of its rail lines, one of which happens to lie under Virgina Ave in Southeast DC. CSX plans to unearth the narrow tube from 2nd Street to 11th Street, beginning in 2011 and continuing for an estimated two to three years. Surely Bostonians are smirking sympathetically, but area residents and business are bracing for the worst.

According to officials from the company, the CSX rail lines that disect DC are some of the most congested on the line. According to the National Gateway website, a variety of factors lead to the decision to expand and renew the current freight system. Population growth, energy costs, and environmental factors will mean increased demand for freight. According to CSX, the current system of tracks, bridges and tunnels is outdated, hence the new plan to widen the tunnel and lower the tracks to allow for double-stacked trains, but in order to access the tunnels for construction, its Virginia Avenue ceiling will need to be removed.

In the late 1800's Congress authorized the B&O Railroad, now CSX, to build the tunnel and own the area below ground, while the federal government retained ownership of Virgina Avenue at grade. As with any major project in D.C., a spiderweb of authorities will have their say over the planned construction. According to National Capital Planning Commission (NCPC) Senior Planner David Zaidain, since CSX is applying for federal TIGER Grants to fund a portion of the project, the company will have to comply with the National Environmental Protection Act and the National Historic Preservation Act. NCPC has oversight because Virginia Avenue is technically federal land and is inside the L'Enfant City plan. NCPC will review the concept and give final approval to the public space effects of the project during and after construction. For good measure, the District Department of Transportation will be working with CSX to evaluate impact on traffic.

Assuming CSX obtains the federal grant money and jumps sufficiently through the various oversight hoops, residents on Capitol Hill can expect an extended period of construction and all its attendant pleasures. Among the joys of CSX: new traffic patterns - including temporary bridges connecting the numbered streets and diverted flows from Virginia onto G Street - construction noise, and the unmasked noise of trains running through the Capitol Riverfront neighborhood. For three years. Or more. And that's before planners start getting ideas about what other infrastructure goals could be accomplished while they're at it.

The project is particularly irksome to residents and businesses such as EYA's Capitol Quarters housing development. The new townhomes line the streets near Virginia Avenue and the proposed CSX plan is giving some future homeowners a (possibly justified) case of buyers' remorse. Some would-be buyers have backed off when they caught wind of the area's construction future. EYA Partner AJ Jackson had this to say about the Capitol Quarter community and CSX, "EYA has been in contact with CSX and will be working with the company as well as the District government to ensure that Capitol Quarter continues to be a great community if CSX’s National Gateway proposal goes forward. Our goal is to ensure that any proposal that’s considered includes the needs and concerns of the Capitol Quarter." Like moving massive amounts of freight from the gulf to the north and west. At least Hill residents can console themselves that this will save alot of fossil fuel consumption. And Bostonians will tell them that this too shall pass. But not soon.

Images from the NCPC and DDOT Freight Railroad Realignment Study.

Washington DC real estate news

Buzzard Point Gets Attention

A little-known area in the southwest waterfront will get a lot of attention when the American Planning Association (APA) spends four days this month analyzing Buzzard Point, the southern promontory of southwest DC, where the Anacostia and Potomac converge. The Planning Assistance Team (PAT) intends to produce a series of recommendations for further study and suggested visions for the future of the area between South Capitol Street and Fort McNair. The PAT will speak with stakeholders and property owners, and a public meeting to review the recommendations will likely be held on Saturday, November 21st at the Police Building on M Street SW. Details will follow as the event approaches. The area is zoned within the Capitol Gateway Overlay for mixed use of commercial and residential; the APA's review is significant because the area currently has no master plan. A hodgepodge of industrial buildings, Buzzard Point will continue to be the home of the U.S. Coast Guard Head Quarters until its move to St. Elizabeths in Anacostia. It will also be the terminus point for two of the planned DDOT street car lines.During the four-day period the PAT team will speak with area property owners such as Monday Properties, Akridge and Douglas Development as well as representatives from the War College, Fort McNair and other area civic associations. After the four day evaluation, the PAT will make recommendations available at a public meeting, which will be an opportunity for feedback and further suggestions from the community. Michael Stevens, AICP and Executive Director of the Capitol Riverfront BID, said a final report could be expected within two months of the APA evaluation. From that point the report will go to the Office of Planning, Office of the Deputy Mayor for Planning and Economic Development, and to the District Department of Transportation for review and consideration. Stevens hopes the Office of Planning will ultimately develop a Small Area Neighborhood Plan setting out zoning changes and offering a broad vision for the community, which until now has consisted of a few large development firms on an interesting but largely unknown spit land, with only hopeful ambitions of what it some day may become. 

Washington DC commercial property news  Top image from the Capitol Riverfront BID.

DC's Canal Park Gets Federal OK

The National Capital Planning Commission (NCPC) on Thursday approved final plans for Canal Park in Southeast DC. Canal Park, in the Capitol Riverfront neighborhood, will encompass approximately 2 acres of federal land under District jurisdiction - three city blocks of parkland between 2nd Place and 2nd Street, and from I to M Streets. Each park block will have a distinctive design, including a linear rain garden, combination of large and small open spaces, three pavilions, an urban plaza, and a prominent water feature. The rain garden will act as an on-site water collection, treatment and reuse of stormwater runoff. The larger flexible green space between K and I Streets could be used for movies or concerts, with seating room for 500 and standing room for 1,200. The water feature is envisioned as supporting "interactive use" in the summer and skating rink in the winter. In March of this year the city announced the choice of OLIN, a Philadelphia-based landscape architectural firm, to design the park. Studios Architecture, a consultant of OLIN, designed the planned pavilions for the park as pictured above.

To close out the meeting, the NCPC also agreed to release their CapitalSpace plan for public comment.

Washington DC commercial property news

Congressman on a Wire

The federal government and the circus will be one step closer after today's Zoning Commission hearing, which will consider an application for a Trapeze School on land currently owned by the General Services Administration. The zoning text amendment would allow TSNY (Trapeze School of New York) a trapeze and performing arts facility on 55,300 s.f. of land east of the ball park and southeast of the U.S. Department of Transportation building.

Pending approval the "trapeze school and aerial performing arts center" will have access to the land as a matter of right until December 2014. The school is currently in a temporary location at the site of the Old Washington Convention Center at 9th and H St, NW. Perhaps Congress might consider doing one of the schools "team-building workshops." The Zoning Commission hearing is scheduled for tonight at 6:30 PM in the Office of Zoning hearing room at 441 4th Street and is open to the public, so swing by.

photo by Rich Riggins

Capitol Quarter's LEED Silver Townhomes Open Next Week

Next Wednesday, Washington DC officials and developers will celebrate the first occupancies of the Capitol Quarter community of new market-rate townhomes, affordable workforce homes, and public rental apartments in the Capitol Riverfront Neighborhood. The 208 townhomes along 7 city blocks are walking distance from the Navy Yard, Capitol South and Eastern Market Metro stations. The townhomes achieved Silver LEED for Homes certification and together make up the nation's largest "LEED for Homes" community.

The construction, which began in mid-2008, proceeded in two Phases, the first covering four blocks, the second covering the remaining three blocks. Phase I should be completed in May of 2010 according to Jennifer Hebert, Director of Marketing for EYA. This first phase consists of 77 market-rate townhouses, 36 work force homes, 39 public housing rentals, and 8 Housing Choice Voucher (HCV) units. Only the market-rate and workforce homes are LEED for Homes certified. For Phase I, 53 of the 77 market-rate townhomes are sold (22 are settled), all 36 workforce homes are sold (7 are settled), and Hebert indicated the District of Columbia Housing Authority (DCHA) has been filling the rental units as quickly as they can be built. Phase II will begin after Phase I is complete and EYA expects Phase II to finish some time in 2012.

DCHA, DC Mayor Adrian M. Fenty, and EYA will attend the ribbon cutting ceremony scheduled for Wednesday, August 26 at 10:00 AM to celebrate the first occupancies in the neighborhood. Capitol Quarter was developed through a public/private partnership among the US Department of Housing and Urban Development, DCHA, the District of Columbia government, Forest City, Urban Atlantic and EYA. According to Michael Kelly, DCHA Executive Director, DCHA and EYA have committed over 40% of labor contracts for the construction work to local and small businesses.

The two, three and four bedroom units were designed by Lessard Group. Each home has ENERGY STAR appliances and other green amenities, such as high-efficiency cooling units and low flow plumbing fixtures. The market-rate townhomes range from $635k to the mid-$700s. The workforce homes were sold in two releases; the first ranged between $295k and $350k and the second ranged from $350k to $450k. Finally, the rental unit rates are set by DCHA, but generally ask the occupants to pay 30% of their income towards rent.

LEED Gold for Monument's 55M, Southeast

Monument Realty has been awarded an environmental gold medal; Gold LEED status, that is, on its Half Street, SE office building. Coming on the heels of recent set backs including the Watergate foreclosure and auction and the bankruptcy of financing partner Lehman brothers, the news had to be a welcome respite from the negative media glare accompanying the Watergate auction.

The Gold status, the second highest rating in the system, was awarded by the U.S. Green Building Council (USGBC) and came as a surprise to the developer, which had expected only the Silver certification. "[t]o be awarded Gold is a true testament to the hard work that all the team members put into this project,” said Michael Darby, Principal of Monument Realty.

55 M Street, a Class A commercial office building in the heart of the Capitol Riverfront neighborhood - and the official pedestrian entrance to the ballpark - features 275,000 s.f. of office space and 13,000 s.f. of ground floor retail directly above the newly expanded Navy Yard Metro station. Architect Davis, Carter, Scott included environmentally conscious design features such as a green roof and an LID (Low Impact Development) streetscape concept that captures rainwater to irrigate street trees and plantings and reduces storm water run-off. Monument has yet to begin work on the residential portion of the block, for which Lehman was a partner, and has no immediate plans to add to the residential stock of the neighborhood.

Ballpark: Build It and They Will Come, They Might Even Stay

It's a good thing that the Nationals' standing as perhaps baseball's worst team ever will likely have no effect the residences of the surrounding neighborhood. The Capitol Riverfront Business Improvement District (BID) has issued its second quarter residential statistics for 2009, showing how desirable the area is to reside in, and it looks like the cliched Costner-ism of "build it and they will come" is working...for some more than others. EYA's Capitol Quarter townhome development appears to be the leader of the pack of with "88 of 113 (market rate) units sold" - though sales began in the fall of 2006. With prices starting at $630,000, EYA can be content with its position as the only new single-family home project in the area, and their only competition in the area are the dreaded c-word – condominiums – and its Capitol Quarter has generated a slew of favorable media coverage for its tre trendy green construction practices and subsequent “LEED for Homes” certification. Proof positive that condos are indeed still on the sluggish side, Texas-based developer JPI’s pair of Capitol Riverfront condos. Or at least they were considered as condos before the Big Crash - The Axiom at Capitol Yards, The Jefferson at Capitol Yards and Faison's Onyx on First (pictured) – are now all renting as apartments. But according to the BID, the buildings have achieved 60% occupancy of their collective 960 units. That leaves approximately 384 empty units on the market, despite the fact the first completed building, The Jefferson opened its doors one year ago this month. It’s presumably that same dearth of buyers that made JPI go rental with their third area building, 909 at Capitol Yards; so far with less success than its predecessors. According to the BID report, only “25% of the 237 units” at 909 – but the project began renting only in the spring of this year. The developer has been trying to court the young, urbanista demographic for the building by advertising amenities like yoga studios, communal Nintendo Wiis and a residents-only bar/pub. JPI's tentative plans for a fifth and final 415-unit apartment building at 23 Eye Street still remain on the table, at least officially. Valhal Corporation’s Capitol Hill Tower Condo-op is still trudging along with "80% of 344 units sold." That would seem an admirable rate of occupancy had the building not opened early in 2006, with sales almost a year before that. Not mentioned in the BID stats is the Cohen Companies' Velocity condo project, the 200 unit condo nearing completion, but for which sales are reportedly not, well, high velocity. Nonetheless, the BID reports that, in total, there are now “an estimated 1,863 residents living in the Capitol Riverfront , with over 2,000 residents expected by the end of the year.” You could be one of the lucky 137 by year's end. Ghost town or boom town? You be the judge. 

UPDATE: Says Ted Skirbunt, Director of Research & Information Systems at the BID: "JPI’s buildings were always going to be rental from the beginning. The only building thus far to convert from condos to rental apartments is the Onyx."

Washington DC commercial retail and real estate news

Artomatic Does Southeast in Style

High culture and high-rise office space don't often collide, but they did today as DC arts organization, Artomatic, opened the doors on its landmark 10^th anniversary exhibition at Monument Realty's new 275,000 square foot, LEED silver-certified building at 55 M Street, SE in the Capitol Riverfront. With galleries on each of its nine-stories, this year's Artomatic celebration overlooks Nationals Park and the city's monumental core, while featuring the work of more than a thousand artists of just about every discernible sort – painters, sculptors, videographers, musicians, tattooists, poets, dancers and more. And, to wash down that load of multimedia, bars, retailers and vendors -- including the Hard Times Café, Red Bull, Cake Love, Busboys and Poets and the Flying Dog Brewery – are scattered throughout. The city legislators present, including Ward 6 Councilmember Tommy Wells and Congresswoman Eleanor Holmes Norton, touted this year’s festivities as the beginning of the “new 20003.”

“We’re no longer an emerging neighborhood. We’re here,” said Capitol Riverfront BID board member and Cohen Companies Executive Vice President Eric Siegel – who, in his acting his role with the latter organization, helped develop the Velocity Condominiums project a stone’s throw away at 1025 1^st Street, SE.

BID officials are projecting that Artomatic will draw some 70,000 visitors to the neighborhood (now dubbed “The ‘Front” for short) during its five-week run. The exhibition is open to the public starting today, Friday, May 29^th at noon. The opening gala will begin around 8 PM tonight and feature a fire dancers, 24 bands and performances and a discussion with PostSecret creator Frank Warren.

Artomatic 10 will close up shop on July 5^th, but until then, the exhibition will available for perusal on Wednesdays and Thursdays from 5 pm – 10 pm; Fridays and Saturdays from 12 noon -1 am; and Sundays from 12 noon – 10 pm.

And, having just returned from the sneak peek, let me state it plainly: it's pretty kick-ass.

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