The Moderno Condominiums

The Moderno, 1939 12th St., NW, Washington DC
Moderno condominium is a 19-unit condo, a joint venture between DC-based Lakritz Adler and Robertson Development, just off few feet off U Street. The Moderno consists of residential as well as (still vacant) ground floor and underground retail, and 12 parking spots, built in one structure that look like two buildings of 4 and 5 stories. Unique features included in some units: 19-foot ceilings, Spanish porcelain tiles and Spanish-built cabinets and some with outdoor showers on penthouse units. One-bedroom condos started originally in the high $300k's and three-bedroom condos stepped just over the $1m line. Construction began in the third quarter of 2007 and finished in early 2009. Designed by CORE Architecture and Design of DC, with Ellis Denning as the General Contractor for the project, this wood-framed building with brick and glass facade is a refreshing addition to the architecture of U Street, with modern interiors that incorporate wood and stone flooring and minimalist interiors as well as large glass bays, located 1 block to the U St. Metro. Phase 1 sales began October 2006 and did not sell out until late 2009, despite some hype about a supersonic sales pace.

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Silver Spring Church Goes Residential

Developer Lakritz Adler has presented its first plans to turn a decaying church into a large residential project in Silver Spring across from the new downtown library. The DC developer is working with the First Baptist Church on Wayne Avenue to build a roughly 200-unit apartment building and replacement church for the congregation.

According to Josh Adler, Managing Partner of Lakritz Adler, the developer has been working with the church for three years to develop a site plan, which should begin construction by late next year, replacing the 80-year old church with a 5-6 story apartment building and church along Fenton Street, between Bonifant and Wayne. Assuming approval by the county, the residential project would be the largest for the developer and its first church development, both on a small downtown site, which Adler says led to a challenge that other firms turned down for being "too complicated." But Adler says his firm was contacted by the church for the undertaking and found a good match, despite the novelties. "I can't say we've built a church before; but they have a church architect, Dimensional Dynamics, a Pennsylvania firm which has an expertise in that area." For the residential piece, the team has selected Torti Gallas of Silver Spring. While plans remain just that, Adler expects the project to include about 30,000 s.f. of ground floor retail, replacing what is now largely a surface parking lot. If things move expeditiously, Adler predicts construction could start two years from now. If all goes well, Lakritz Adler and First Baptist will erect a 5 story building (grading to 6 stories on the lowest portion of the site) along Fenton Street, with retail along the front that rounds the corner on Wayne, with a residential entrance on Bonifant. Current designs specify a concrete structured first floor for retail, a garage below, and a 4-level wood-framed residence on top, topping out at 60 feet measured from the highest elevation. Adler sees ultimate approval as likely. "We're not asking for any variances or exceptions. We've had a number of community meetings in the past month, as well as with Park and Planning Staff; we've gone in with a meaningfully smaller building than we are allowed to build there, and have tried to design it in a way that the community approves of." First Baptist, he adds, has been an active part of the design process. Located directly opposite the upcoming Purple Line station and new Silver Spring library, Adler says of the land "its a very important site, I don't think anyone could argue that it is the single best multifamily site in Silver Spring today." The developer promises the building will be worthy of the location. "It will be built accordingly, with lots of amenities, a nice roofdeck, and a business center. I would compare it to Ellington on U Street, the same kind of quality level. The very high end of residential quality for Silver Spring." The first plans for the site, created in 2007, were for an office building, but that changed with the shifting market. "It seemed like the office market was better at first, but our view is that residential market is starting an upswing" said Adler. While the team is building under the presumption of rental apartments, he notes that the project could of course go condo down the road. "The plan is for rental, but nothing is stopping us from switching in the future."

Silver Spring commercial real estate news

Groundbreaking for Georgia Avenue CVS

Groundbreakings are never quite as exciting as officials or the press want them to be. Really they are an opportunity to get dress shoes dirty, make a few speeches and wait months for something to replace the ceremonious dirt. Today's groundbreaking at a CVS in Parkview/Petworth Community met all the aforementioned expectations, but DCMud attended, just in case something unexpected happened. Nothing did. That said, the fulfillment of promised retail for a community long underserved is certainly something to note and a welcome sign of progress for neighbors. The CVS is the first step in a line of promised retail on the Georgia Avenue Corridor. The lot in question is at the intersection of Georgia Avenue and New Hampshire Avenue NW, across from Donatelli's Park Place and diagonal from the Georgia Avenue Metro. The space sits just on the border of Wards 1 and 4 and will serve the communities there. The site once was home to a gas station that closed in the early 90's and the lot sat vacant until 2000 when a real estate developer proposed a plan for a 10-story residential tower. According to Robb LaKritz, the community and the city disliked the project so much that it eventually died. In 2007 LaKritz Adler purchased the property and began the long process of working with the community, where Principal and Managing Partner Robb LaKritz lives, to pursue the type of retail the area needed. There was one major obstacle the developer had to work through with the city - the soil of the former gas station was deemed contaminated by health officials. But with some finessing and consideration for the type of tenant the developer was pursuing, LaKritz Adler and city officials were able to obtain approval for development and secure CVS as the tenant. The 11,000 s.f. site is smaller than a typical CVS, which are usually 14,000 to 15,00 s.f. The Georgia Avenue CVS will also include a mezzanine to accommodate more space on a second floor. Construction, not yet begun, is expected to wrap up mid-2010. The project was made possible partly through a $2 million Georgia Avenue Great Streets Grant from the District, which spends approximately one-fifth of its $10 million budget for the area. The grant will be financed through TIF bonds, which make the District a development partner of sorts creating an added value for the lot in order to secure additional private financing. The TIF bond will be financed through the sales tax revenue generated by the new CVS and will expire after 25 years or when the taxes revenue fulfill the financial obligations. So, the Mayor shoveled some rocks as he lead Councilmembers Graham and Bowser with the cheer of "1-2-3, New CVS!" Get excited.

Washington DC commercial property news