Back to Drawing Boards for Italian Embassy Owners

Earlier this year Valor Development LLC purchased the former Italian Embassy at 2700 16th St. NW for $7.5 million in what will be a second attempt at condo development on the site. Partnering with Potomac Construction Group, Valor intends to renovate the embassy into condominiums, add a three-story wing on the north side of the building (also to house condo units), and construct a nine-story apartment building at the rear of the site. Earlier this month developers' plans and the architectural diagrams provided by Trout Design Studio went before the Historic Preservation Review Board (HPRB). While the HPRB found the conceptual site plan and rehabilitation of the landmark satisfactory, members of the Board directed the applicants to "restudy the architectural treatment of the north wing, and restudy the height, massing and architectural treatment of the new apartment tower, and return for further review when appropriate."

The first phase of the "Flats at IL Palazzo" will be the restoration of the landmark's facade and the conversion of the interior into condominium units "blending the character and charm of the historic building with the sophistication, class, and modern finishes that one expects in this premium location," according Valor's online description. The interior restructuring and transformation will preclude several significant interior spaces: the ballroom, library, dining room, and other smaller spaces will be preserved with some opportunity for public use and visitation. The second phase will include the north wing addition and the construction of the apartment tower, but those elements remain unapproved by HPRB.

Plan rejected in 2006.

Another development team in 2006 was close to moving forward with similar development plans for the ex-embassy, when HPRB designated the property an historic landmark just before construction was to begin, in part because the new tower would have eaten into part of the historic structure. HPRB asked the city to revoke the building permits for the 79-unit Il Palazzo condominium, a decision the developer litigated and lost. This go-round developers have moved the proposed apartment tower from near the front to the northwest corner of the site, far-removed from the 16th Street frontage and centered around a second courtyard. While the overall efforts seem to respect the historic nature of the property, and rearrange the site plan in accordance with HPRB's public wishes, the Board still found the three-story addition "capricious and discordant with the rest of the proposal" and the apartment tower's design to be "busy and composed of too many elements." Developers and designers have been advised to rethink their designs and try again soon. Although this is sure to delay Phase II, developers are still planning to deliver Phase I to the marketplace in summer of 2011.

The last project was spun by Spaulding & Slye, Colliers & Castleton Holdings, lender O’Connor North American Property Partners LP was forced to foreclose on the property, and enabling Valor to swoop in and purchase the site.

Washington DC real estate development news

Wheaton Metro Projects

Wheaton's profile has never been sufficiently distinct to stand out against its neighbors to the south, lacking a strong downtown and well defined borders. But now several teams are hoping to make area more of a destination.

Construction is well underway for Bozzuto Development and Torti Gallas and Partners' mixed-use project at the Red Line’s Wheaton Metro station. Located at 11175 Georgia Avenue in Maryland, Metro Pointe will include 2,000 s.f. of ground retail below 173 rental apartments which will be a mixture of lofts and single story units. Residents will have traditional amenities such as a business center, courtyard terraces, and a walking park, and less traditional features like direct elevator access to the Metro, an uncommon convenience in DC.

“It will be five buildings connected together, the main building on Georgia and Reedie Drive is brick with Hardipanel…When you get to Amherst drive it turns into townhouses,” said Project Manager Mark Weisner at Bozzuto. He added that Fed Ex Kinkos and a small convenience store will occupy the retail space.

While the Georgia Avenue project is underway and scheduled for completion in the third quarter of this year, Bozzuto’s other - more ambitious -project with Spaulding & Slye Investments, is still being conceived, it may soon take shape down the street where Georgia Avenue and Veirs Mill Road intersect.

Still in the planning and documentation stage, the Metro Plaza at Wheaton Square on Georgia Avenue may begin construction in the second half of next year; the mixed-use project will include over 400,000 s.f. of Class A office space, street-level retail, residential units planned as apartments, a Metro bus terminal, and parking for 500 cars. Planned at the intersection of Reedie Drive, and Veirs Mill, the project's backers expect the development to redefine Weaton's 'city center'.

The project is still not much more than a rendering (see above) - a representative at the company jokingly asked DCMud to tell them what was happening at the site - Bonstra Haresign Architects’ website says the project will have “an 11-story, 300,000 square foot commercial tower, a 10-story, 130,000 square foot residential building, 10,000 square feet of ground floor retail along Georgia Avenue, and 5 levels of above-grade structured parking.”

The project will have access to the Metro tunnel under Georgia Avenue on the north side of the site and to a pedestrian bridge at the west side of the site.

As Bill Bonstra said to DCMud in January, “Georgia Avenue is an unbelievable mix of land use... And the Wheaton area is coming in right on the coattails of the revitalization of Silver Spring. It was only a matter of time for development to move north as it had done from the west.” How much time, we just can't say.

Wheaton Maryland real estate development news

Bozzuto Group Wins Silver Spring Mixed-Use Project

Back in late October, the Montgomery County Planning Board of the Maryland-National Capital Park and Planning Commission (MC-MNCPPC) heard proposals from three development teams competing to design and build a new mixed-use project on 3.24 acres at the corner of Georgia Avenue and Spring Street, at the northwestern entrance to downtown Silver Spring. This week, the Commission officially announced the winner to be SilverPlace, LLC (comprised of Bozzuto Group, Spaulding & Slye, and Harrison Development).

 Phase I will include a mixed-use building on Georgia Avenue that will hold 358 dwelling units (261 for sale, 91 for rent), 30% of which will be affordable. The initial development will also include retail, a specialty grocery store, and over 500 underground parking spaces, as well as a 9-story office tower on Spring Street that will house the Montgomery County Park and Planning Commission (PPC). Overall, there will be 150,000 sf of office space. The project will extend Fenton Street to open it to residential and retail development.

Groundbreaking is likely to be in 2008, with completion in 2010. Silver Spring-based Torti Gallas will provide master planning for the project. The two proposals not selected included one from Silver Place Joint-Venture, LLC (Donohoe Companies, Otis Warren & Company and MCF Investment Company), which proposed three buildings (one residential, one mixed-use with residential, office space, and retail, and the PPC headquarters), and another from PN Hoffman / Stonebridge Associates, which would have built residential and retail on this site, and a new PPC headquarters at a different lot already owned by the team.

Silver Spring, MD real estate development news

Architect Selected for Metro Plaza Project in Wheaton

The $150 million Metro Plaza complex, a mixed-use project planned to be built on 3 acres at the southwest corner of Georgia Avenue and Reedie Drive next to the Wheaton metro station, now has its architect. Developers Spaulding and Slye Investments and Bozzuto Development Co. have just hired well-know DC architect company Bonstra Haresign (AOL Headquarters, Q14 condos) for this project, which for now will consist of up to 450,000 sf of office and retail space, though the developers are leaving upon the possibility of including residential units depending on the market. Construction on this complex is expected to begin in 2008, with occupancy hopefully starting by the end of 2009.

Montgomery County Planning Board Reviews Mixed-Use Designs for Silver Spring Project

On Thursday, October 26, the Montgomery County Planning Board of the Maryland-National Capital Park and Planning Commission (MC-MNCPPC) heard proposals from three development teams competing to design and build a new mixed-use project on 3.24 acres at the corner of Georgia Avenue and Spring Street, at the northwestern entrance to downtown Silver Spring. The development will include the new headquarters for the Montgomery County Park and Planning Commission (MCPPC), as well as workforce housing and retail. The three development teams selected to make presentations were: (1) Silver Place Joint-Venture, LLC (Donohoe Companies, Otis Warren & Company and MCF Investment Company), which is proposing to erect three buildings on the site (one residential, one mixed-use with residential, office space, and retail, and the PPC headquarters; (2) SilverPlace, LLC (Bozutto Group, Spaulding & Slye, and Harrison Development), which would build a 358-unit residential and mixed-use building along Georgia Avenue, with a specialized grocery store, and a nine-story office headquarters for PPC; and (3) PN Hoffman / Stonebridge Associates, which would build residential and retail on this site, and a new PPC headquarters at a different lot already owned by the team. The MC-MNCPPC is expected to make a decision on a winning team in early 2007, with redevelopment of the site completed by 2010.