Its been a long time coming, but construction at Takoma's metro-centered residential project is at last underway. Developers have begun work at 233 and 235 Carroll Street, on the District's side of Takoma, on 2 buildings that add 150 rental apartments to the traditionally tranquil neighborhood.
Development partners Federal Capital Partners (FCP) and Level2 Development, (in a crowded field of partners that includes MCZ and SGA Architects), began work last week
on the pair of buildings designed by SGA Architects, a 4-story building at the corner of Maple Avenue and a 5-story adjacent building closer to the Metro station.
Now actively under construction, Level2 partner Jeff Blum says construction to start moving up from the bottom of the hole will commence "within the next few weeks." His plan incorporates the original 4-story building, plus a new 5-story, warehouse-like building to the west, along with new mandates on what to build. "The original project was designed and permitted under a set of zoning regulations that did not include the Takoma Overlay [increased density] nor inclusionary zoning [affordable housing requirements]. " The ANC initially argued against the height, but Blum notes that the higher density is permitted under the new zoning, a decision he says is "appropriate because it is only a few hundred feet from the Metro station."
Each building will have its own parking garage (about 100 spaces total), with a total of 9700 s.f. of retail space. The buildings will be wood-framed over concrete, with differing architectural styles - the 4-story building featuring an "art-deco flavor," and the other a 19th century red brick, warehouse style apartment building. A "3-story glassy hyphen" will connect the two. Developers are shooting for LEED certification this time around, and expect completion in March of 2014.
The project has long stuttered, and for those that enjoy the long, twisted tale that accompanies many development projects, the tale of Takoma Central doesn't disappoint. Bethesda-based architecture firm SGA purchased the lot for redevelopment in 2004, with plans to build Ecco Park condominiums - "green," but not LEED certified, said the owner.
To prep, the developer partially remediated the soil on the former gas station site, then announced the project in 2006. With nothing more than clean dirt at the site, the SGA sold a third of the 85 condos, but the coming housing bust forced the developer (and financial partners) to rethink, and like many other condo projects, the development went rental. At least on paper.
Returning deposit checks, SGA announced the project would still go forward, now as an apartment building. But financiers were as scarce as condo buyers, and it was not until August of 2010 that the developer thought it had a financial partner, and Ellisdale was awarded a $13m construction contract. But financing was elusive, and it was not until early 2011 that Level2 and MCZ entered the picture to partner with SGA, acquiring the second site and expanding the scope of the project. Finally, earlier this year, FCP joined the fray and the site took on new life.
"This is a neighborhood that is thirsting for new retail" says Blum of Level2, noting that the new streetscape "will better connect the Metro station to the existing shopping area on the Maryland side." In addition to the extra retail frontage, Blum says the sidewalk "is going to be vastly improved" - "from a 4-ft path of lose bricks and other obstacles" to an 18-foot wide space, including 6-foot sidewalk and space for a sidewalk cafe, for "a much nicer, and safer, pedestrian experience." Hamel Builders is doing the construction. Finally.
Washington D.C. real estate development news
Showing posts with label SGA Architects. Show all posts
Showing posts with label SGA Architects. Show all posts
Friday, December 07, 2012
Takoma Central Underway
16
comments
Posted by
Ken on 12/07/2012 10:00:00 AM
Labels: Level 2 Development, SGA Architects, Takoma
Labels: Level 2 Development, SGA Architects, Takoma
Friday, July 01, 2011
Takoma Park Progresses on Twin Developments
13
comments
Posted by
Anonymous on 7/01/2011 11:39:00 AM
Labels: Hamel Builders, Level 2 Development, SGA Architects, Takoma
Labels: Hamel Builders, Level 2 Development, SGA Architects, Takoma
SGA Companies and Level 2 Development are finally watching construction progress at their joint residential-and-retail project at 235 Carroll Street NW in Takoma Park, a long dormant site that Bethesda-based SGA Companies, founded by Sassan (Sas) Gharai, purchased in 2004. Three years later, site prep was undertaken, including extensive environmental remediation and the removal of rusted-out oil drums left over from the former gas station and truck rental facility on site. Still, four years went by before construction began, last month.
Of the changes at 235 Carroll Street in the Takoma Park Historic District, Sara Green, Commissioner of ANC 4B 01, has no complaints. It's the site next door, at 231 Carroll St, also being developed by SGA and Level 2, that is giving her some grief.
The developers' plans for the adjacent site (231 Carroll) were approved, with suggested refinements, yesterday, June 30th, by the Historic Preservation Review Board (HPRB), and now await final approval by the Historic Preservation Office (HPO).
Although Green submitted in her testimony to HPRB yesterday, "Everyone I have talked to is excited about seeing a vacant and ugly lot on our 'main street' developed, and this design has several very appealing and creative features," her concerns lie with the back of the building at 231, not the appearance from the front.
Along the new "main street," the two buildings will be distinctly different, thanks to community feedback and HPO recommendations, as the HPRB Staff Report by Anne Brockett details, "The design for [231] has changed dramatically in its exterior appearance since submission. Initially it was proposed to match the design of 235 Carroll."
In the interest of visual diversity, the newest plan for 231 Carroll St is a 5-story complex with 60 residential units, 35 underground parking spaces, and a retail component, designed with a "warehouse-inspired aesthetic" using predominantly red brick. In contrast, 235 Carroll St is a longer but shorter building, with 4 stories, 84 residential units, 70 underground parking spots, and 6,500 s.f. of ground-floor retail, featuring "yellow brick with panelized bays."
The two residential-and-retail complexes will be connected by a glass "hypen" of sorts that at once connects and separates the two buildings, which Commissioner Green appreciates, as does much of the community, according to her.
Of 231, the staff report explains that "large, street level openings have brick arches and are covered by a corner canopy suspended from metal rods. The upper story windows are 6-over-6 hoppers with steel lintels and sills. The side elevation along Cedar Street continues the warehouse materials and detailing of the main block and then at a setback and lower wing changes to a mix of stucco bays and hardiplank-sided recessed balconies. Along this elevation, the northernmost corner loses its top floor for a terrace, thus stepping down toward the adjacent historic home on Cedar."
It's the "step down" plan, on the corner of Carroll Street and Cedar Street, where Green's concerns are focused.
In her testimony to the HPRB yesterday, Green stated, "The Takoma Central District Plan specifically addresses height. It states that 'new commercial and residential buildings should be no more than 2-4 stories in height to match existing residential scale' and to preserve Takoma’s 'small/town village character'."
She continued by saying that, "The Takoma Overlay District permits heights of up to 55 feet, but as I also understand it, you have the ability to reduce the height, as needed, on case-by-case basis."
Yet, overall, the project has been well received by both ANC4B and a majority of the immediate Takoma Park community. Green also asserts that Sas Gharai of SGA, and Jeff Blum of Level 2, have worked diligently with concerned parties, and have revised the design at 231 Carroll into something commendable. Still, she believes, it could be better, and specifically, shorter.
Meanwhile, the complex already underway at 235, dubbed Ecco Park early on, had planned for condos but turned rental in the spring of 2008. The project was also once in the hands of Ellisdale Construction, in the summer of 2010, but is currently being built by Hamel Builders; Hamel Builders could not be reached this morning, and Ellisdale would not disclose any information on the change.
Washington D.C. real estate development news
Of the changes at 235 Carroll Street in the Takoma Park Historic District, Sara Green, Commissioner of ANC 4B 01, has no complaints. It's the site next door, at 231 Carroll St, also being developed by SGA and Level 2, that is giving her some grief.
The developers' plans for the adjacent site (231 Carroll) were approved, with suggested refinements, yesterday, June 30th, by the Historic Preservation Review Board (HPRB), and now await final approval by the Historic Preservation Office (HPO).
Although Green submitted in her testimony to HPRB yesterday, "Everyone I have talked to is excited about seeing a vacant and ugly lot on our 'main street' developed, and this design has several very appealing and creative features," her concerns lie with the back of the building at 231, not the appearance from the front.
Along the new "main street," the two buildings will be distinctly different, thanks to community feedback and HPO recommendations, as the HPRB Staff Report by Anne Brockett details, "The design for [231] has changed dramatically in its exterior appearance since submission. Initially it was proposed to match the design of 235 Carroll."
In the interest of visual diversity, the newest plan for 231 Carroll St is a 5-story complex with 60 residential units, 35 underground parking spaces, and a retail component, designed with a "warehouse-inspired aesthetic" using predominantly red brick. In contrast, 235 Carroll St is a longer but shorter building, with 4 stories, 84 residential units, 70 underground parking spots, and 6,500 s.f. of ground-floor retail, featuring "yellow brick with panelized bays."
The two residential-and-retail complexes will be connected by a glass "hypen" of sorts that at once connects and separates the two buildings, which Commissioner Green appreciates, as does much of the community, according to her.
Of 231, the staff report explains that "large, street level openings have brick arches and are covered by a corner canopy suspended from metal rods. The upper story windows are 6-over-6 hoppers with steel lintels and sills. The side elevation along Cedar Street continues the warehouse materials and detailing of the main block and then at a setback and lower wing changes to a mix of stucco bays and hardiplank-sided recessed balconies. Along this elevation, the northernmost corner loses its top floor for a terrace, thus stepping down toward the adjacent historic home on Cedar."
It's the "step down" plan, on the corner of Carroll Street and Cedar Street, where Green's concerns are focused.
In her testimony to the HPRB yesterday, Green stated, "The Takoma Central District Plan specifically addresses height. It states that 'new commercial and residential buildings should be no more than 2-4 stories in height to match existing residential scale' and to preserve Takoma’s 'small/town village character'."
She continued by saying that, "The Takoma Overlay District permits heights of up to 55 feet, but as I also understand it, you have the ability to reduce the height, as needed, on case-by-case basis."
Yet, overall, the project has been well received by both ANC4B and a majority of the immediate Takoma Park community. Green also asserts that Sas Gharai of SGA, and Jeff Blum of Level 2, have worked diligently with concerned parties, and have revised the design at 231 Carroll into something commendable. Still, she believes, it could be better, and specifically, shorter.
Meanwhile, the complex already underway at 235, dubbed Ecco Park early on, had planned for condos but turned rental in the spring of 2008. The project was also once in the hands of Ellisdale Construction, in the summer of 2010, but is currently being built by Hamel Builders; Hamel Builders could not be reached this morning, and Ellisdale would not disclose any information on the change.
Washington D.C. real estate development news
Wednesday, November 17, 2010
Classically Styled Townhomes in Old Town Get a Modern Kick
2
comments
Posted by
Brooks Butler Hays on 11/17/2010 03:30:00 PM
Labels: Old Town Alexandria, SGA Architects
Labels: Old Town Alexandria, SGA Architects
Sponsored Story
These days it seems every new proposed multifamily condominium in the metro area has some sort of green roof involved, but it's rare that one reads or hears about green-roofed townhomes. For architect and developer Sassan Gharai of SGA Companies, who recently finished a twin home project in Old Town, it seemed logical to offset the heat island effect with a little rooftop landscaping, no matter what size the building. The rooftop not only provides environmentally friendly greenery, but a superb deck that offers spectacular views of the Monument and the District's treasures lying just beyond the Potomac. Listing agent Alan Dalton of ADMC Realty Group says of the property, "This is an unusual amount of space for Old Town, with both modern finishes and classic charm of the historic neighborhood—and everything you could need at your fingertips. Another rare treat is the phenomenal 1,000-square foot master suite with fireplace, luxury bath and walk-in closet that is the size of most bedrooms!"
While many of Georgetown's luxurious old homes offer an explicit glimpse of economic tensions, as two, three million dollar brick mansions stand opposite decaying subsidized apartment complexes, Gharai's newly finished rowhouses offer a vision of a modern, sustainable, mixed-income community. Just down the street development group EYA are spearheading the long overdue redevelopment of the rundown James Bland Additions, currently operated by Alexandria Redevelopment and Housing Authority (ARHA). The five full blocks of redevelopment will be named Old Town Commons, adding 245 market-rate and 134 affordable homes to the neighborhood. This more attractive and harmonious juxtaposition of diverse and distinct socioeconomic groups is mirrored in the design of Gharai's building, as the the simple aesthetic is reflected onto two halves of the home, one half utilizing brick, and the other employing side paneling.
Although each home is accompanied by a spacious backyard and two parking spaces, other modes of a transit are readily available. Each home has two parking spaces, and is located just four blocks west of the Braddock Road Metro. Residents can enjoy the outdoors in their spacious backyards or head four blocks east to the Potomac River for a walk, run, or bike ride on the beautiful Mount Vernon Trail. There's plenty of space indoor to explore as well, as each home swells to a whopping 4,000 s.f., making sure there's enough room for the five bedrooms, five-and-a-half baths, lower level au-pair suite or home office with kitchen and separate entrance, elegant, state-of-the-art kitchen, and living and dining rooms. If all this sounds like a great place to call home, make your next address 712 Wythe Street for $1,249,000. Having labored some five years through the trying zoning approval process in Alexandria, Gharai says he is looking forward to finally finding two happy families to enjoy the comforts of his creativity.
Old Town Alexandria, VA Real Estate Development News
These days it seems every new proposed multifamily condominium in the metro area has some sort of green roof involved, but it's rare that one reads or hears about green-roofed townhomes. For architect and developer Sassan Gharai of SGA Companies, who recently finished a twin home project in Old Town, it seemed logical to offset the heat island effect with a little rooftop landscaping, no matter what size the building. The rooftop not only provides environmentally friendly greenery, but a superb deck that offers spectacular views of the Monument and the District's treasures lying just beyond the Potomac. Listing agent Alan Dalton of ADMC Realty Group says of the property, "This is an unusual amount of space for Old Town, with both modern finishes and classic charm of the historic neighborhood—and everything you could need at your fingertips. Another rare treat is the phenomenal 1,000-square foot master suite with fireplace, luxury bath and walk-in closet that is the size of most bedrooms!"
While many of Georgetown's luxurious old homes offer an explicit glimpse of economic tensions, as two, three million dollar brick mansions stand opposite decaying subsidized apartment complexes, Gharai's newly finished rowhouses offer a vision of a modern, sustainable, mixed-income community. Just down the street development group EYA are spearheading the long overdue redevelopment of the rundown James Bland Additions, currently operated by Alexandria Redevelopment and Housing Authority (ARHA). The five full blocks of redevelopment will be named Old Town Commons, adding 245 market-rate and 134 affordable homes to the neighborhood. This more attractive and harmonious juxtaposition of diverse and distinct socioeconomic groups is mirrored in the design of Gharai's building, as the the simple aesthetic is reflected onto two halves of the home, one half utilizing brick, and the other employing side paneling.
Although each home is accompanied by a spacious backyard and two parking spaces, other modes of a transit are readily available. Each home has two parking spaces, and is located just four blocks west of the Braddock Road Metro. Residents can enjoy the outdoors in their spacious backyards or head four blocks east to the Potomac River for a walk, run, or bike ride on the beautiful Mount Vernon Trail. There's plenty of space indoor to explore as well, as each home swells to a whopping 4,000 s.f., making sure there's enough room for the five bedrooms, five-and-a-half baths, lower level au-pair suite or home office with kitchen and separate entrance, elegant, state-of-the-art kitchen, and living and dining rooms. If all this sounds like a great place to call home, make your next address 712 Wythe Street for $1,249,000. Having labored some five years through the trying zoning approval process in Alexandria, Gharai says he is looking forward to finally finding two happy families to enjoy the comforts of his creativity.
Old Town Alexandria, VA Real Estate Development News
Friday, November 12, 2010
Florida Ave Jungle to Make Way for Condos
3
comments
Posted by
Brooks Butler Hays on 11/12/2010 03:47:00 PM
Labels: Bogdan Builders, Kady Development, SGA Architects, U Street
Labels: Bogdan Builders, Kady Development, SGA Architects, U Street
The overgrown lots at 1421-1423 Florida Avenue NW have changed hands several times over the last few years, but finally rest in the palms of a developer intent on moving forward with construction. Originally attracting the interest of Kady Group some time ago, the properties were acquired by Bogdan Builders in 2007 for $550,000, and now the paperwork is all but signed in a deal that sees the vacant lots into the arms of Sassan Gharai, founder of SGA Companies. In September, Gharai presented his plans for a six-story, 16-unit condominium to the Meridian Hill Neighborhood Association, and last month Chris Colross of SGA Architects presented his firm's plans to the Historic Preservation Review Board (HPRB). The Board adhered to assigned reviewer and preservation specialist Eldra D. Walker's recommendation to "approve the proposal in concept, delegating final approval to staff."
Rising 60 feet, the masonry clad apartment building will stack ten 2-bedroom/2-bath units and 4 studios atop an eight-space ground-floor garage. The roof of the garage will support a first-floor terrace garden, and each unit will feature either a full or Juliet balcony. While the proposed setback penthouses and an 8-to 12-foot elevator overrun are not counted toward a building’s height and do not require a zoning variance, the project still must go before the BZA, as the parking garage will require the frequently unpopular curb cut on Florida Avenue, resulting in the loss of one parking space (gasp).
Fitting snuggly into the rapidly transformed Greater U Street Historic District, SGA offers their staple - a traditionally inspired design sampling materials found throughout the storied neighborhood: brick, 2/2 windows, stone accents, and metal panels. "The building’s front, side and rear elevations will be fully articulated with ordered fenestration, brick pilasters with stone caps, and horizontal bands of stone," explains Eldra D. Walker, while "large recessed brick panels and a modern embattlement will crown the new structure." Despite the building's height, Walker found the architectural aesthetic to be "understated, calm, and residential in character."
Gharai seems to have his hands full designing and developing as of late, with news that his long-delayed Ecco Park is "back on track." Since Gharai delivered the Butterfield House in 2008 in the market has seen better days, to say the least, but some developers apparently smell a recovery. Quoted recently in the Takoma Park Newsletter, Gharai explained the significance of his decision to kick the 235 Carroll Street NW project back in gear: “I think what it shows is the market’s finally coming around because the banks are willing to lend again.” His optimism must also be the inspiration behind his plans to acquire and develop the lush Meridian Hill property, and hopefully a sign of more good news and development activity to come.
Washington D.C. commercial real estate blog
Rising 60 feet, the masonry clad apartment building will stack ten 2-bedroom/2-bath units and 4 studios atop an eight-space ground-floor garage. The roof of the garage will support a first-floor terrace garden, and each unit will feature either a full or Juliet balcony. While the proposed setback penthouses and an 8-to 12-foot elevator overrun are not counted toward a building’s height and do not require a zoning variance, the project still must go before the BZA, as the parking garage will require the frequently unpopular curb cut on Florida Avenue, resulting in the loss of one parking space (gasp).
Fitting snuggly into the rapidly transformed Greater U Street Historic District, SGA offers their staple - a traditionally inspired design sampling materials found throughout the storied neighborhood: brick, 2/2 windows, stone accents, and metal panels. "The building’s front, side and rear elevations will be fully articulated with ordered fenestration, brick pilasters with stone caps, and horizontal bands of stone," explains Eldra D. Walker, while "large recessed brick panels and a modern embattlement will crown the new structure." Despite the building's height, Walker found the architectural aesthetic to be "understated, calm, and residential in character."
Gharai seems to have his hands full designing and developing as of late, with news that his long-delayed Ecco Park is "back on track." Since Gharai delivered the Butterfield House in 2008 in the market has seen better days, to say the least, but some developers apparently smell a recovery. Quoted recently in the Takoma Park Newsletter, Gharai explained the significance of his decision to kick the 235 Carroll Street NW project back in gear: “I think what it shows is the market’s finally coming around because the banks are willing to lend again.” His optimism must also be the inspiration behind his plans to acquire and develop the lush Meridian Hill property, and hopefully a sign of more good news and development activity to come.
Washington D.C. commercial real estate blog
Tuesday, August 24, 2010
Rhode Island Avenue Northeast: Development "Hotspot"
41
comments
Posted by
Brooks Butler Hays on 8/24/2010 03:27:00 PM
Labels: Eckington, Marcus and Millichap, PERS, Rhode Island Ave., SGA Architects
Labels: Eckington, Marcus and Millichap, PERS, Rhode Island Ave., SGA Architects
The corner of 4th and Rhode Island Avenue, NE, may be one of the District's least celebrated corners, but an area hitherto untapped by real estate developers, is finally getting attention. Thanks to PERS Development, a plan to remodel an abandoned 32-unit building at 329 Rhode Island Avenue NE will soon be underway, making way for "hip, boutique, luxury condominium homes." Just a few blocks east of the Rhode Island Ave - Brentwood Metro, the project will build off the local momentum of Baltimore-based A&R Development Corp's 8.5 acre, $108 million project (including 274 new residential rental units and 70,000 s.f. of ground floor retail) that broke ground this spring on the former WMATA parking lot, making the vicinity a "transit oriented developer hot spot." PERS Development is a young and ambitious team with four completed projects under their belts, and now two more in the works. All four of their finished developments have sold out, the last being Sky DC in Randall Highlands. On their four previous projects, PERS has specialized in small, moderately-priced condos. But as advertised, this endeavor seems destined to be slightly more high end than the units sold in Randall Heights for $200,000. However, while PERS President and CEO, Ramin Bassam is promising a "very, high-end boutique product," a price point between high $200,000s and $350,000 proves value also remains a priority. Marty Zupancic of Marcus & Millichap brokered the deal that sees the property travel from the reluctant hands of the previous owner Byung S. Shin of BSS Partnership to the more purposeful and enterprising hands of the developer.
The development will come as welcome news to local residents, but especially so for neighbor Steven Conn who several months ago compiled a slide show of evidence in an effort to convince DCRA that the building at 329 Rhode Island was a hindrance and hazard to the community, and therefore should be classified as "blighted." Local blogger Dan Silverman gave voice to Conn and his cause by highlighting the property with the honorable distinction of the Horse's Ass Award. The District was in the midst of designating the building as blighted and condemned only two months ago, but PERS was able to step in, usher through the necessary building improvements, and remove said designations, enabling the financing and property transaction to go through, and development plans to move forward. The top floors of the building were significantly damaged by a fire that raged in the evening hours of July 31st last summer. While the neglected building, singed, dirty, and windows boarded, is an eyesore at the moment, its proximity to the metro and its location on a highly visible island-like street corner, makes the property apparently attractive to real estate developers. In a press release, Bassam stressed that: “This project represents a great opportunity to fulfill the growing demand for luxury condominiums in the District of Columbia by delivering a high end product in an under-served submarket at a time when supply is getting tight. It has just the type of character and location that we have been looking for.”
SGA Arcitects have been contracted for the design, and initial renderings should be finalized later this week. The building will transform from a sordid blemish of a property into ultramodern, highly-wired chic condos. Each unit will be outfitted with wi-fi and iPad docking stations. Other amenities include a state-of-the-art glass-enclosed gym, a rooftop deck outfitted with a European shower, and various community lounges. Units will be planked with natural bamboo flooring. The bottom floor will reserve room for five retail tenants, an amenity that new owner Bassam says is desperately needed in the neighborhood. "A late weeknight trip to the McDonald's across the street is an at least twenty minute wait in line, there are not enough retail options at the moment," explains Bassam. The often elusive project financing of the acquisition and needed construction, normally the last piece of the development puzzle, is already in place, compliments of Bethesda-based Monument Bank.
Washington D.C. Real Estate Development News
The development will come as welcome news to local residents, but especially so for neighbor Steven Conn who several months ago compiled a slide show of evidence in an effort to convince DCRA that the building at 329 Rhode Island was a hindrance and hazard to the community, and therefore should be classified as "blighted." Local blogger Dan Silverman gave voice to Conn and his cause by highlighting the property with the honorable distinction of the Horse's Ass Award. The District was in the midst of designating the building as blighted and condemned only two months ago, but PERS was able to step in, usher through the necessary building improvements, and remove said designations, enabling the financing and property transaction to go through, and development plans to move forward. The top floors of the building were significantly damaged by a fire that raged in the evening hours of July 31st last summer. While the neglected building, singed, dirty, and windows boarded, is an eyesore at the moment, its proximity to the metro and its location on a highly visible island-like street corner, makes the property apparently attractive to real estate developers. In a press release, Bassam stressed that: “This project represents a great opportunity to fulfill the growing demand for luxury condominiums in the District of Columbia by delivering a high end product in an under-served submarket at a time when supply is getting tight. It has just the type of character and location that we have been looking for.”
SGA Arcitects have been contracted for the design, and initial renderings should be finalized later this week. The building will transform from a sordid blemish of a property into ultramodern, highly-wired chic condos. Each unit will be outfitted with wi-fi and iPad docking stations. Other amenities include a state-of-the-art glass-enclosed gym, a rooftop deck outfitted with a European shower, and various community lounges. Units will be planked with natural bamboo flooring. The bottom floor will reserve room for five retail tenants, an amenity that new owner Bassam says is desperately needed in the neighborhood. "A late weeknight trip to the McDonald's across the street is an at least twenty minute wait in line, there are not enough retail options at the moment," explains Bassam. The often elusive project financing of the acquisition and needed construction, normally the last piece of the development puzzle, is already in place, compliments of Bethesda-based Monument Bank.
Washington D.C. Real Estate Development News
Friday, August 06, 2010
Takoma's Long Awaited Residences May Be Underway Soon
11
comments
Posted by
Brooks Butler Hays on 8/06/2010 04:32:00 PM
Labels: Ellisdale Construction, SGA Architects, Takoma
Labels: Ellisdale Construction, SGA Architects, Takoma
Long thought to be another dormant development, turned rental then stalled even after Domus Realty presold nearly half of 85 units in 2008, the Ecco Park project in Takoma, at 235 Carroll Street, is now reported to be back on track. Ellisdale Construction, responsible for mixed used developments such as Moderno and Riggs Place, was awarded the $13 million contract earlier this week to build the four-story building, containing 5-6 thousand s.f. of retail, and 70 below-grade parking spots. The building was designed and developed by Bethesda-based SGA Architects and will include a few environmentally friendly features such as a green roof and recycled materials, but is unlikely to receive a LEED certification. Even without the rating, architect Sassan Gharai confidently described Ecco Park as "the building equivalent of a hybrid car." Financiers are hopeful that it sells better than a hybrid car.
No tenants for the retail space have been selected, and the development team is still undecided on whether the building will be built and marketed as entirely rented units or for-sale units. Dan Ford at Ellisdale said a mix of rentals and for-sale condos is technically possible but not exactly the most attractive option from a marketing standpoint; however, their team has accounted for each scenario in their budgeting strategies, and SGA effectively opted for that on Capitol Hill when its Butterfield House condominium real estate project failed to sell all its units after 3 years of marketing and rented unsold units.
Patios or balconies are planned for a majority of units; and a combination of brick veneer, metal and glass paneling, and stucco siding will make up the palette of materials used in creating the exterior fenestration. The building will be a wood frame structure secured over podium slab. Ellisdale President Kevin Ash explained, "We’re really excited about this project; it really is what we do best. With the economics of construction what they are today, wood-frame buildings really hit the sweet spot between density and cost. We’re finding this building type to be the most able to be financed right now.” Dan Ford insisted that the wood frame technique has been perfected by their construction engineers to mitigate common problems such as fire safety and noise transference, enabling them to build safely and keep their budget slim.
A popular technique on the West coast for some time, podium slabs are now becoming a more common occurrence on East coast construction sites. An efficient design solution for up to 4-story residential projects with underground parking, like Ecco Park, this special type of foundation system effectively distributes the weight-load from the wood-frame above the slab to walls and pillars below. This technique is not only cost effective, but also environmentally responsible, reducing concrete usage. The cement industry is considered to be one of two principle producers of CO2, accounting for as much as 5% of worldwide emissions.
The site, adjacent to the Takoma Metro, formerly home to a truck rental facility, and a gas station before that, needed loads of contaminated soil replaced and the excavation of several rusted-out oil drums before it was properly suited for construction. That preliminary work was done over two years ago, and the dirt there has had plenty of time to sit idly by, pondering its future. But ground is expected to finally be broken this fall (somewhere between October and January). Constructions is anticipated to span approximately fifteenth months, meaning a delivery date cannot be expected until at least early 2012.
Washington D.C. Real Estate Development
No tenants for the retail space have been selected, and the development team is still undecided on whether the building will be built and marketed as entirely rented units or for-sale units. Dan Ford at Ellisdale said a mix of rentals and for-sale condos is technically possible but not exactly the most attractive option from a marketing standpoint; however, their team has accounted for each scenario in their budgeting strategies, and SGA effectively opted for that on Capitol Hill when its Butterfield House condominium real estate project failed to sell all its units after 3 years of marketing and rented unsold units.
Patios or balconies are planned for a majority of units; and a combination of brick veneer, metal and glass paneling, and stucco siding will make up the palette of materials used in creating the exterior fenestration. The building will be a wood frame structure secured over podium slab. Ellisdale President Kevin Ash explained, "We’re really excited about this project; it really is what we do best. With the economics of construction what they are today, wood-frame buildings really hit the sweet spot between density and cost. We’re finding this building type to be the most able to be financed right now.” Dan Ford insisted that the wood frame technique has been perfected by their construction engineers to mitigate common problems such as fire safety and noise transference, enabling them to build safely and keep their budget slim.
A popular technique on the West coast for some time, podium slabs are now becoming a more common occurrence on East coast construction sites. An efficient design solution for up to 4-story residential projects with underground parking, like Ecco Park, this special type of foundation system effectively distributes the weight-load from the wood-frame above the slab to walls and pillars below. This technique is not only cost effective, but also environmentally responsible, reducing concrete usage. The cement industry is considered to be one of two principle producers of CO2, accounting for as much as 5% of worldwide emissions.
The site, adjacent to the Takoma Metro, formerly home to a truck rental facility, and a gas station before that, needed loads of contaminated soil replaced and the excavation of several rusted-out oil drums before it was properly suited for construction. That preliminary work was done over two years ago, and the dirt there has had plenty of time to sit idly by, pondering its future. But ground is expected to finally be broken this fall (somewhere between October and January). Constructions is anticipated to span approximately fifteenth months, meaning a delivery date cannot be expected until at least early 2012.
Washington D.C. Real Estate Development
Wednesday, July 23, 2008
Butterfield House Architectural Tour
SPONSOR
The Butterfield House will be offering a guided tour, led by the project architect, Sassan Gharai, principle of SGA Architects of Bethesda. The tour will take place at 3 pm on Saturday, July 26th, on location at 1020 Pennsylvania Ave., SE. The Butterfield House, a 28-unit residential building near Capitol Hill's Eastern Market, recently completed construction, and was featured last month by the prestigious National Building Museum for its design, which successfully blends modern amenities and technology within the framework of Capitol Hill's historic fabric, adding to the Hill an elegantly detailed structure, even by the rigorous standards of the surrounding architecture.
SGA Architects has designed and developed a number of large commercial, residential, and retail buildings throughout the greater DC area. Development of the Butterfield House, named after celebrated architect William Butterfield, involved removal and remediation of the structures and soil of the service station that had occupied the site for many years. Mr. Gharai will be discussing the environmental improvement of the site as the architecture and design of the building. Marketing and sales by DCRE.
Washington DC real estate news
Thursday, June 26, 2008
National Building Museum Features Butterfield House
SPONSORED ARTICLE
The National Building Museum will be sponsoring a tour of the Butterfield House, at 1020 Pennsylvania Avenue, SE, on Friday, June 27th. The organization, a Congressionally-chartered institute to enhance more thoughtful and architectural techniques, sponsors its monthly tour to "highlight special construction methods and innovative technologies used in the building process. Some tours have focused on green building strategies, while others have examined preservation projects of historic buildings."
SGA Architects, a Bethesda-based firm performing both architecture and multi-family development, converted the site from an auto repair shop to a high-end condominium, completing the project earlier this year. The developer is now selling the remaining 8 units in the 28 unit building, and is celebrating what will be an iconic building due to its classic design and Pennsylvania Avenue address.
The new condo sits just two blocks from the Eastern Market Metro station and Barrack's Row, and advertises such features as cork sound remediation layering between the floor and subfloor, reclaimed wide-plank cherry floors, underground parking, and video entry systems. Condos start at $359,000 for one bedroom and at $575,000 for two bedrooms.
Capitol Hill real estate development news
Wednesday, May 07, 2008
Takoma Park Condos Go Rental
Ecco Park Condominiums, planned as Takoma Park's only new condominium project, will now go forward as an apartment building. The 85-unit condominium had been designed and was to be developed by SGA Architects of Bethesda, but SGA began returning money to purchasers several weeks ago. The site, two blocks from the Takoma Park Metro Station, was a brownfield and former gas station, a condition the developer remedied last year by removing and replacing the soil, but construction and excavation had not yet begun.
According to the developer, the lack of financing for a new condominium building became the insurmountable hurdle in the development process, requiring a new financing agreement that precluded condo sales. Domus Realty had presold 35 of the 85 units as of last fall, when the sales center closed. "I'm really excited that the project is still moving forward despite the turmoil in the markets." said Sas Gharai, the architect and developer of the project. But Gharai also suggested that with the dwindling condo construction the decision may not be irreversible, "At some point, we may re-evaluate when the market changes."
Ecco Park is designed to include 6,500 s.f. of retail, and at one time was mentioning a Trader Joe's Express as a possible tenant. It would also feature underground parking, and patios or balconies for most of the units. Prices started at $180k for a studio and in the high $200k's for a one-bedroom, and at $495k for a two-bedroom. SGA recently completed and is selling the last few units at the Butterfield House on Capitol Hill.
According to the developer, the lack of financing for a new condominium building became the insurmountable hurdle in the development process, requiring a new financing agreement that precluded condo sales. Domus Realty had presold 35 of the 85 units as of last fall, when the sales center closed. "I'm really excited that the project is still moving forward despite the turmoil in the markets." said Sas Gharai, the architect and developer of the project. But Gharai also suggested that with the dwindling condo construction the decision may not be irreversible, "At some point, we may re-evaluate when the market changes."
Ecco Park is designed to include 6,500 s.f. of retail, and at one time was mentioning a Trader Joe's Express as a possible tenant. It would also feature underground parking, and patios or balconies for most of the units. Prices started at $180k for a studio and in the high $200k's for a one-bedroom, and at $495k for a two-bedroom. SGA recently completed and is selling the last few units at the Butterfield House on Capitol Hill.
Monday, March 24, 2008
New Condo Opens on Capitol Hill
The developer of Capitol Hill's newest real estate development has announced it has completed construction and will hold its public opening this weekend. The Butterfield House, at 1020 Pennsylvania Avenue, had already sold about half the 28 units in the building during pre-construction; the developer had been making final improvements over the past month to complete the building.
SGA Companies, a Bethesda-based firm performing both architecture and multi-family development, converted the site from a gas station and auto repair shop to a condominium over the past two years. SGA both designed and developed the Butterfield House, in what is likely to be the last new condo on Capitol Hill proper for the next few years, with no other new construction in the development pipeline on the Hill. About 2650 new condominium units are likely to reach delivery in DC within the next two years, nearly 60% of which will be concentrated in Mt. Vernon Triangle, the new stadium area, and the U Street corridor.
The developer will hold the Butterfield House Grand Opening on Saturday and Sunday, March 22 and 23rd, to celebrate what it hopes will be one of the more iconic buildings on Capitol Hill due to its design and address on Pennsylvania Avenue. The new condo sits just two blocks from the Eastern Market Metro station, and advertises such features as cork sound remediation layering between the floor and subfloor, reclaimed wide-plank cherry floors, underground parking, and video entry systems. Condos range in price from about $350,000 to over $1m. Sales and marketing by Ken Johnson of DCRE.
Washington DC commercial property development news
Sunday, August 13, 2006
Architect to Build New Takoma Condos
Sassan Gharai, of Bethesda-based SGA Architects, is designing and developing a new condominium to take shape in Takoma this Fall. Ecco Park will feature 85 units and 6000 s.f. of retail space in a 4-story building adjacent to the Metro, on a contaminated site now housing a truck rental facility and gas station. The infill project will incorporate green elements - such as a green roof and recyled products - but will not likely be LEED-certified. Patios or balconies are planned for a majority of units, as well as underground parking and exterior fenestration combining metal, stone, and glass; with sales to begin in September and groundbreaking this Fall. Gharai is currently building the Butterfield House on Capitol Hill which should deliver early next year.
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