Liberty Market Open in Mt. Vernon Triangle

Mt. Vernon Triangle's new Liberty Market, a farmer's market, has opened for business. The market located at 7th and K Streets, NW on the grounds of the old Carnegie Library, now home to The Historical Society of Washington, DC, will be open every Tuesday afternoon from 2:30-6:30 p.m. Producers expect that vendors will offer fresh produce as well as prepared food, beverages, art work, and live music.

Liberty Market is produced in cooperation with The Historical Society of Washington, DC by Michael Berman of Diverse Markets Management, which also runs the Sunday Eastern Market and the downtown holiday market.

Though last week's inaugural debut saw only six vendors and one musician, the market managers are eagerly expecting to add new vendors. Bill McLeod Executive Director of Mount Vernon Triangle Community Improvement District (CID) said " We hope the market will grow as word gets out and vendors tell other vendors." And musicians tell other musicians...

"This exciting neighborhood keeps getting better and our substantial population of residents and office workers are continuing to benefit from the focus of the area's retailers and service providers," said Jeff Miller, Chairman of the Mt. Vernon Triangle CIDs. Interested vendors can contact Diversified Markets Management at (202) 543-3370 or info@diversemarkets.net. Now if they can just figure out how to resolve DC's most odious traffic circle that surrounds it.

Progress on Stalled Dumont

Mt. Vernon Triangle's DuMont Condominium's 559 units at 401 Massachusetts Avenue, NW, have sat lonely and vacant since the project was substantially completed a year ago. Lender PB Capital issued a foreclosure notice in December when the developer, The Broadway Group, failed to secure enough deposits to meet the lender's demand. Mt. Vernon blog The Triangle first reported resolution in the form of a sale to Ideal Realty Group (IRG), which specializes in multifamily and distressed/bank owned properties.

The IRG website lists the 559-units at the Dumont as "under agreement." According to one commenter on the Triangle, at a Mount Vernon Square Neighborhood Association meeting, Bill McLeod of the Mount Vernon Business Improvement District (MVBID) confirmed the sale. You can bet all those new tenants (whether owners or renters) and the potential for retail would be welcome news to the MVBID.

No one at IRG was available or willing to comment or confirm the sale. While there is currently no sale recorded, the September 18th release of a mechanics lien is further evidence of a deal. A representative at Custom Glass Services Inc. was unwilling to comment about any sale agreement, but confirmed the company had a lien on the property that was resolved through a payment from the general contractor, James G. Davis Construction Corporation.

It is unclear if the Dumont, designed by Esocoff & Associates as condominiums, would be sold as such or rented as apartments.

Mount Vernon Triangle Waits for All that Jazz

The Arts at 5th and I will keep Mount Vernon residents waiting for just a bit longer. Donohoe Companies won the right to develop the promised high-end hotel, retail outlets and jazz club in September of 2008, but the District has been negotiating the terms of the land lease for the project with Donohoe. According to Memphis Holland, a Partner at co-developer Holland Development, the group hopes to have a resolution to their negotiations by the end of next month.

Assuming the land disposition is approved by the City Council, the developers can then begin the planning process. Planning will take at least 12 months and construction would not begin until an unspecified time thereafter. The group is not expecting any zoning issues at this time, but in this business, you never know.

The 475,000-square foot development will center around a new 260-room ME Hotel from luxury Spanish hotelier, Melia, and also include a bicycle retailer, hardware store, book store/café and new outlet for the Zenith Art Gallery. One update to the original plan is that the Boisdale Jazz club will likely not be in the hotel, but rather at a location down the street at 5th and K, which Donohoe is negotiating terms for, leaving the in-house space for another restaurant. The building at 5th and K falls under the confines of the Historic Preservation Review Board so the structure would be preserved and renovated for the club and restaurant.

According to Holland, the developers have been in constant communication with the community and once they have approval from the City Council will re-engage the local ANC and the downtown neighborhood association. Zenith Art Gallery recently closed its physical location and is functioning from an online gallery. According to Judith Keyserling of Zenith, the gallery founder anticipates that the new space is still several years off.

It is unclear when the plans for the remainder of the 5th street project will fall into place. For now we know that the hotel, restaurants and retail are in the works, but the music won't be heard for a few more years.

A New New York for DC

Details regarding the Bozzuto Development Company's once mysterious New York Avenue project have finally surfaced. Now teamed with WDG Architects, the developer is pursuing at least one, if not two residential developments along the burgeoning Mount Vernon Triangle strip that also includes recent developments such as Yale Laundry and CityVista.

The so-called New York Avenue Apartments (let’s hope that's a placeholder) is planned to stand 13-stories tall at 460 New York Avenue, NW and include 87 residential units for a total of 85,555 square feet of new District development. The project's 9,059 square foot lot is now mainly vacant, with the exception of a non-contributing building at the intersection of New York Avenue and L Street, NW that will be demolished to make way for the project. A historic building next door to the site "that by virtue of alterations and its serious structural deficiencies has lost its integrity" will include 6 of the planned apartments and receive a full renovation.

Bozzuto Development Company President Toby Bozzuto told DCmud the company has also made tentative plans for an abandoned warehouse across the street that is also under their control.

Per the development team’s presentation to the local ANC 2C last year, WDG will utilize masonry, stone, glass, and metal for the building’s façade, along with “projecting bays” running from the third to eleventh stories. According to documentation from the developer, “The project will serve as a bridge between the historic rowhouses along 5^th Street and the new Yale Steam Laundry project.” A ground floor fitness center and two levels of below grade parking will reportedly round out the development.

Though the PUD project’s timeline has been elongated due to snags with another governing ANC (the project's location is flush to the boundary between two zones) and market declines in general, Bozzuto said it would be "terrific to start...in 2010."

Washington DC commercial real estate news

Homes, Not Houses for the Mount Vernon Triangle

Property owner Abbas Fathi has received preliminary staff approval from the District’s Historic Preservation Review Board to construct a “two-unit, three-story, three-bay wide brick veneer rowhouse-form building” at 1213 4th Street , NW. Unlike most District development these days, however, Fathi isn’t looking to cram the new development full of “stainless steel amenities” or flip it for a profit before the year is out.

“It’s not condos or rentals,” said Fathi. “Two families are going to live there and I’m going to give it to them.”

Fathi intends to deliver the units to members of his own large extended family that has roots up and down the East Coast and it’ not the first time he’s sought such a project. He’s also currently in the midst of similar initiative at 100 Bryant Street, NW – a property he picked up for $399,000 at January’s Department of Housing and Community Development “nuisance property” auction. Says Fathi: “My brother lives outside the area, but has been wanting to join us, so we’re going to renovate the house for him and his family.”

Designed by architect Bill Washington, the three-story project at 1213 4th Street - which is currently a vacant lot only few blocks from that large-scale testament to the breadth of Mount Vernon Triangle redevelopment, CityVista - will measure in at 3,3000 square feet, to be divided between its two future families. If Fathi has his way, both will be moving in as soon as possible.

“We’ve gotten both ANC approvals…because there are two [with jurisdiction in the area]…If we go and get full approval next week from the HPRB, the following day we’re going to go and apply for permits with the DCRA,” says Fathi. ““If we’re able to start in, say, March or so, we should be finished in about 8 months.”

The HPRB staff member tasked with evaluating the Fathi project has largely consented, with one interesting caveat. “There is the possibility that remains of a 19th century structure/occupation of the lot are present,” writes Meyer. “Archaeological investigations may be warranted.”

Given that the HPRB, as a whole, almost always follows recommendations made by staff, this should pose little to no problem for Fathi – especially given the diminutive dimensions of his 4th Street lot. Other quandaries raised in the report include window widths, dimensions of a cornice and the height of the “main entry header.” Nonetheless, final approval is expected to be granted at the HPRB’s March 26th hearing.

Developer Chosen for 5th & I

The District of Columbia announced this morning that it is partnering with developer Donohoe Companies to bring a high-end hotel, retail outlets and jazz club to the soon-to-be booming Mount Vernon Triangle. In a press conference held this morning, Washington DC Mayor Adrian Fenty laid out the changes that will soon be coming to the District- owned site at 5^th and I Streets NW and praised developments in the area as a whole.

"It's important that we move these projects fast, that we get them out to developers who know what to do with them and I think that...in less than a year we've demonstrated that we're not just holding onto these properties," said Fenty. "We're allowing them to be developed for the benefit of the community."

Those benefits will take the shape of a 475,000-square foot development, titled Arts at 5^th & I. The project will center around a new 260-room ME Hotel from luxury Spanish hotelier, Melia and also include - promoters say - a bicycle retailer, hardware store, book store/café and new outlet for the Zenith Art Gallery. Perhaps most exciting for local residents, who lobbied the city for more entertainment-oriented projects in the neighborhood during the 6 month bidding process, will be the addition of a new music venue in the form of the Boisdale Jazz Club – the first US location from the London-based chain of nightclubs.

A new apartment complex sporting 166 apartments will also be springing up on the site, with the developer pledging to a minimum of 50 affordable-housing units within the building. Rounding out the proposal is a 238-space underground parking garage. Groundbreaking is a projected 18 months away, following approval by the City Council.

Jad Donohoe of the Donohoe Companies outlined future plans for not only 5^th and I, but the rest of the Mount Vernon Triangle area as well. “We’re going to take this lot and then move up 5^th Street and take out those vacant properties,” he said. “[Donohoe is going to] redevelop that entire street and build on the investment that the city has already made in CityVista.”

The District’s selection of Donahue comes at the end of a 6 month bidding process that saw JBG, Buccini/Pollin, Potomac Investment Properties, and the winning Donohoe-managed joint proposal that included Holland Development, Spectrum Management, and Harris Development, all vying for a contract to build on the coveted Ward 6 parcel. With regards to how Donohoe’s joint proposal edged out the competition, Deputy Mayor Neil Albert said:

I took a look at their work and was very impressed with it. The community wanted entertainment as part of the development and they had a jazz club, which was well received…and then, they were going to pay us $7 million for this piece of land. They definitely had the best proposal. And that’s not just our rating, but community support was overwhelmingly in support of this proposal.

The 5 & I site was transferred into the city’s portfolio in October 2007 in the wake of the National Capital Revitalization Corp.’s (NCRC) dismantlement. DC's Office of the Deputy Mayor for Planning and Economic Development then issued a Request for Proposals (RFP) early this year. The District is negotiating subsidies for the project with Donohoe at present and hopes to generate approximately $85 million in tax revenue from the Arts at 5^th and I project.

Safeway Opening Brings Commerce to Mt. Vernon Triangle

Mayor Adrian Fenty turned up with a pair of comically oversized scissors today to cut the ribbon on the brand new Safeway in Mt. Vernon Triangle, the company's first downtown location and 17th District store. The grand opening marked the completion of one of the cornerstones of the city's $200 million CityVista project that will see 685 units of residential housing, 138 affordable units, 130,000 square feet of retail space, 800 parking spaces and 150 new jobs created in Mount Vernon Triangle. The new Safeway, which also sports (yet another) Starbucks, despite that company's closure of 500 underperforming stores, marks the first major business to open at the K Street facility that also includes the recently opened CityVista condo complex. “This is really about just more than Safeway,” said the Mayor before slicing the ceremonial sash. “It’s really about revitalizing Washington, DC, our nation’s capital.” Fenty was optimistic that progress was inevitable for the neighborhood. “If you know this area, this was an area that for a long time, not a lot was happening…and what we’ve seen over the years is an area come to life.” He went on to cite the initiative that led to the Verizon Center, Gallery Place and the transformation of Chinatown as steps that now have ramifications for the neighboring Mount Vernon Triangle. “We are continuing on what I think is the real realization that the District of Columbia is turning a corner and that there are great things happening in this city.” Mark Rivers, who spoke on the behalf of the developer behind the project, Lowe Enterprises, shared credit for those “great things” with several other parties who advanced the CityVista cause: the CIM Group, Bundy Development Corporation, Neighborhood Development Company and especially the Office of the Deputy Mayor for Planning and Economic Development. “This is about a $240 million development,” he said, “but $48 million went to small and disadvantaged local business enterprises here in the city.” He then heralded the other businesses that will soon join Safeway in the mixed-use K Street complex. “5th Street Hardware, Results Gym, Chevy Chase Bank and Busboys & Poets will be opening very soon and we’re very excited about that. I know the community is as well.”Following the remarks, the Safeway brass led Fenty (and a pack of photographers) on a tour of the new store’s amenities. Fenty played coy while perusing the facility’s full-service “nut bar” (“One of only 4 on the East Coast!") and ordering a “Fenty-sized” apple cider at the in-house Starbucks. Safeway’s first DC location opened in 1928, but the completion of the corporation’s 56,000 square foot CityVista site does not mark the end of their plans for the District. They have already revealed plans to renovate 8 of their DC locations over the next three years to the tune of $45 million. Those stores targeted for remodeling include Tenleytown and Petworth, both of which could see the addition of 200+ plus housing units on (or on top of) their lots. A developer has yet to be sought for the projects.

Washington DC retail and commercial real estate news

5th & I: The Final Four

March Madness it isn't, but the teams may be competing every bit as hard, and now its down to the final four. The District has narrowed its list of developers for its project at 5th and I Streets down to four: JBG, Buccini/Pollin, Potomac Investment Properties, and a group comprised of Holland Development, Donohoe Development, Spectrum Management, and Harris Development. 463 I Street, the half-acre site in Mt. Vernon Triangle, had attracted seven bids by the March 7 deadline, but three got voted off the island.

Since we now only had to research four proposals, instead of seven, we thought we would show you a preview of what to expect:

The Arts at 5th and I (Holland-Donohoe): A Shalom Baranes-designed creation (rendering below) that would reach 120 feet in height, with a swanky ME by Melia, a Spanish hotel chain opening their first venue in the States. Sitting on top of the 174-unit hotel would be a 96 unit residence, and underground (alleviating noise issues) would sport Boisdale, a London-based live jazz club.













Buccini/Pollin: With master Architect Sorg & Associates, BPG is planning a 130-foot, 12-story building that would house not just one but two hotels: A 186-room Aloft hotel and 128-bed Element hotel, sitting on top of a two-story, 30,000-s.f. entertainment venue called World Cafe Live.

JBG: No catchy name yet, but with design by New York-based FXFOWLE (we're not being obnoxious, they spell it in all caps), the project would include a 230-bed hotel, 187 market rate residences, 34 subsidized residential units, and 44,000 s.f. of retail/commercial space "appropriately scaled to serve the community" with "priority to local retailers." In addition to the subject parcel, JBG will add its contract negotiations with the sellers of adjacent parcels, upping the space that could be developed.

i5 (Potomac Investment Properties): And since it looks like a hotel is destined to occupy the site, PIP is proposing a 79-room Avalon hotel - an independent four-star hotel now in Portland and, it claims, only the 7th LEED certified hotel on the planet. Capping the hotel would be 84 units of mixed income apartments, some of which would be dedicated to artists who would live, work, and just plain be creative on site. Designed by Martinez & Johnson Architecture, the whole building would be designed to achieve a LEED Gold rating. But forget environmentalism, Constantine Stavropolous - owner of Tryst, Open City, and the Diner - would open a fourth retail venue on site (we don't want to bias the decision makers, but they make the only good cappuccino in the city). The scrupulous reader has already realized that PIP has a far smaller total unit count, an intentional decision that building the project as Matter of Right, rather than seeking zoning changes, would allow it to start the project 'within a year' of gaining control of the site.

District Announces Developer Submissions for Mt. Vernon

The District announced Tuesday that its solicitation to develop a vacant half-acre site at Fifth and Eye streets (I Street, to purists), NW, in Mt. Vernon Triangle, grabbed the attention of seven developers. Deputy Mayor Neil O. Albert announced the names of the development teams that responded to the January Request for Proposal; bids were due March 7.

The District received proposals from Buccini/Pollin Group; Clark Realty Capital (which recently won the Poplar Point bid); Donohoe Development Co and Holland Development Group; JBG Cos.; MVT Associates, LLC; NDC-Jarvis; and Potomac Investment Properties, Inc.

"This is really one of the last sites left in the Mount Vernon Triangle," Albert said, speaking of the lot that will almost certainly have competition nearby, as several developments have been announced in the immediate vicinity. "This neighborhood has basically sprung up overnight and this site presents a great opportunity to add some dynamic uses to better serve the existing community and the new mix of office, retail and housing." The site will have the advantage of high visibility on Massachusetts Avenue, making it a dream at least for the marketers.

Proposals for the site include high-end retail such as hotels, restaurants, cafes, fitness clubs, spas and live entertainment venues. Some also included a residential aspect with apartments and condominiums (didn't they get the word that no one would finance condos?), which would include 30% affordable housing, according to the District's rules. Each plan featured underground parking with 100-plus spaces.

NDC-Jarvis proposed building a luxury boutique hotel connected to upscale condominiums (see rendering below), with the pair sharing concierge services and amenities. Proposed retail included a small home furnishings store, an upscale restaurant to serve the hotel and neighborhood. A small jazz performance venue would also be on the site.

"I think we are very invested in this neighborhood," said Adrian Washington, Principal with NDC, and former Anacostia Waterfront Commission frontman, whose current company has performed a number of apartment renovations and conversions throughout DC. "I think our proposal would be a great addition to neighborhood. It's the type of development that is not in the neighborhood right now. It is a boutique, high-end, architecturally distinctive project. And the restaurant would be a great addition to the neighborhood."

Robert Holland of Holland Development Group, co-developer with Donohoe Development Co., said their design would include a Shalom Baranes-designed hotel. "As far as I know, many of the developers were proposing hotel/apartments, a mixed-use development, with some local neighborhood retail," Holland said. "Our difference is that we have identified a Spanish hotel chain to go in there, along with a 10,000-s.f. restaurant jazz venue. It's a London-based established jazz club, not a big commercial destination jazz club, but more local, with very excellent food. It should be a great a compliment to the neighborhood."

Mount Vernon Triangle spans 15 blocks over 30 acres, and already includes more than four million square feet of development, such as CityVista, which is well into the back nine of its 441-unit condo project next door.

The Office of the Deputy Mayor for Planning and Economic Development will study the proposals over the next few weeks and will schedule a public meeting for the community to hear presentations from each of the development teams.

Washington DC real estate development news

Bozzuto Planning...Something...on New York Ave.

The Zoning Commission yesterday took proposed action to approve the rezoning of 5,000 s.f. of land to a moderate density commercial zoning district at the southwestern edge of the block bounded by New York Avenue, 5th and L Streets, NW. Zoning will soon take final action on April 14th after the National Capital Planning Commission gives the yes (or no).

Bozzuto eventually wants to develop the site, but no formal plans have been submitted - and because of the site's negligible size, the P.U.D. process wouldn't apply - P.U.D sites have to be 15,000 square feet. In essence, if Bozzuto can get an official zoning change, they can develop the property by right, but must heed the Historic Preservation Review Board's comments.

The site, which actually sits in both the Shaw neighborhood and the Mount Vernon Square historic district, has no official plan. And although Bozzuto Development Group, the applicant requesting the zoning change, is applying for 5,000 s.f. of rezoning, that amounts to only half of the lot, leaving the other half to be zoned for residential uses. The reason Bozzuto is leaving half the site residential is complicated; the firm owns three lots on the block: the lot being sought for rezoning, and two lots adjacent to the east. The pair of lots to the east are already zoned for moderate commercial uses, so the firm is trying to extend their commercial capabilities for half-a-lot more.

Bozzuto has proposed an 'illustrative' development, though it is not officially attached to the record, which would demolish a single historic building on one of the eastward lots, and would move another neighboring historic structure westward, into the slice of land that would remain in the residential zoning district. Bozzuto would then fill in the vacant lots between the historic property and the Yale Laundry Site, which serves as its eastern boundary. Although there is no official record of what the building would be, Bozzuto might be wise to keep it fully residential, from a purely zoning perspective; Zoning regulations effectively permit "any commercial zone [within this district] to be developed to a high density, if the development is solely residential." However, Bozzuto must be taking note of the Yale Steam Laundry condo project next door, which is not expected to sell out any time soon.

Bozzuto's illustrative development plan ensures the "stepping down [of] the mass of the building proposed." If the rezoning takes place, Bozzuto would be working within a 130-ft. height limit and roughly 50,000 s.f. of gross area. As the Zoning Commission comments, "The requested zoning would, in theory, permit the applicant to construct a building approximately three times as large as what would now be permitted on this site."

We're not sure what its going to be, but that doesn't stop us from being excited.

District Seeks Developers for Mt. Vernon Parcel

The District of Columbia has issued a Solicitation for Offers for the Redevelopment of a vacant 20,600-s.f. lot in Mount Vernon Triangle. The lot, at 463 I Street, NW, sits five blocks from the nearest Metro, and adjacent Walnut Street Development's newly announced project at 459 Eye Street, but will have substantial street presence on Massachusetts Ave. The District is seeking to turn the vacant lot into a mixed-use project that could potentially include housing, cultural and "hospitality uses," and it certainly wouldn't hurt if the project provided retail for the nearby Convention Center.

The Office of the Deputy Mayor for Economic Development (DMPED) issued the solicitation on December 27th, responses are due by March 7th. The property is located on the Northwest corner of Fifth and Eye streets, skirting Mass Ave.; current zoning allows for office, residential, hotel and entertainment uses, and for a height of up to 130 feet, with allowable FAR of up to 10.0. As with all DC-owned property sold off for private development, the District is requiring that at least 30% of any new housing conform to the District's "affordable" criteria.

The property is part of Mount Vernon Triangle, a 30-acre section that the DC government has been actively promoting in order to transform the vacant or shuttered properties into, well, an actual neighborhood. According to the District, there is currently more than 4 million square feet of development in the neighborhood's development pipeline, anchored by the nearly completed CityVista project.

Washington DC real estate development news

New Addition to Mt. Vernon Triangle in Spring '08

A brand new $55 million multi-use development is almost set to materialize in Mount Vernon Triangle as developers and architects put the finishing touches on design plans. 459 Eye Street NW will be the new site of Walnut Street Development's Eye Street Lofts, a 12-story structure which will house 164 apartments and more than 15,000 s.f. of community-serving retail space.

The lot, which spreads from 443 to 459 Eye Street, has been planned for development since 2005, when Walnut Street had originally proposed condos for the site. Unfortunately for the condo market, a historic preservation impediment hindered Walnut Street's vision. The Historic Preservation Review Board (HPRB) halted the plans because of the Central Auto Works garage, a historically-designated structure that currently sits on the lot. Architects HOK Group have decided to incorporate the entire aged structure into the new edifice by piercing columns through the building. Once the columns are in place, Tompkins Builders will have to construct footings beneath the garage to support 10 stories of new construction. The auto garage isn't the only structure being preserved on the site; two existing row-houses are being used in the design-plans as well as an historic blacksmith shop.

The existence of historic structures on the site presented unique obstacles for Walnut Street. HPRB required 9 months to approve project - but subsequent to the extended waiting period, Walnut Street faced an invariably different economic environment. In reaction to the drastic change in the market, developers circular-filed the initial condo proposal and entered into a waiting game to stalk the perfect economic conditions for a rental project; it seems that time is now. Ground is expected to be broken by Spring of 2008.

CityVista Opens in Mt. Vernon Triangle

The CityVista mixed-use project will go to settlement on the sale of its first condominium unit today now that the development team, lead by Lowe Enterprises, has received its final authorization from the city to transfer title. When complete, the Mt. Vernon project will have a large impact on the neighborhood, delivering 441 condominiums, a 9-story apartment building, and Mt. Vernon's first retail sector with an "urban Safeway", Results gym, and a second helping of U Street's popular Busboys and Poets.

Today's sale is in the "L," the first of two condo towers, where the developer reports 90% of the units are already under contract. The "K" is currently 40% sold and will begin settlements next spring. The last building to finish will be the "V", the apartment building now under construction, on which the developers have entertained offers to sell outright.

The first occupancy at CityVista follows a long wait for the city's approval; the development team received a Certificate of Occupancy for the property back in August, but had been stymied in its attempts to convey the properties for lack of tax identification numbers, a problem an individual involved with the project said resulted from DC's failure to officially recognize Lowe as the owner of record on the property. The city - a partner on the project - has now issued the credentials, allowing the project to begin occupancy.

Washington DC real estate development news

Mount Vernon Church Ready to Add Office and Retail Space to Property

Since 1917, the Mount Vernon Place United Methodist Church, at the northwest corner of Massachusetts Avenue and 9th Street NW, has served those in search of spiritual guidance. Starting in 2009, though, this corner will also welcome office workers and shoppers, as United Methodist and developer CarrAmerica (with Clark Construction handling the actual construction) are planning to demolish two of the property’s education buildings and redevelop some of its underutilized land to make way for a new $130 million, 250,000-sf office building project that will also contain 7,000 sf of retail and 220 underground parking spaces. United Methodist will retain 35,000 sf of this new 12-story building for its ministerial work and use, in partnership with the Baltimore Washington Conference of the United Methodist Church, Wesley Theological Seminary, and Asbury United Methodist Church. Meanwhile, United Methodist will dedicate $5 million of its proceeds from this sale to finance the preservation and renovation of the church’s original 1917 sanctuary. In addition, sale profits will be used to create an endowment to sustain and support the church for years to come. United Methodist’s project, which is expected to break ground in the Fall of 2007, is one innovative example of how to adapt to a changing real estate landscape and prepare for the future influx of new residents and workers to the Mount Vernon area.

Mount Vernon Place Church Square Project Breaks Ground

The National Capital Revitalization Corporation (NCRC) has broken ground on its $145 million Mount Vernon Place Church Square development, a unique 300,000-sf residential and office complex to be carved out of a piece of (and also above) Interstate 395 at 3rd and H Streets, NW. The project will be tackled in two phases. Phase 1, which was just started, will be a $45 million, 90,000-sf office complex scheduled to be completed by the end of 2007. Phase 2, while still being finalized, is expected to be a 20,000-sf, 300-unit residential building with underground parking, plus a 10,000-sf, kindergarten-through-third-grade school. About 20% of the units are to be affordable housing. Phase 2 is expected to begin in March 2007. The project is being developed by MQW LLC, a joint-venture of the Mount Carmel Baptist Church, the Wilkes Company, and Quadrangle Development, and falls within the larger Mount Vernon Place Initiative, comprising 11 projects on five city blocks between 3rd and 5th Streets, and Massachusetts Avenue and K Street.