Flats at Dupont Circle

Flats at Dupont Circle, 2000 N Street, 20036, NW, Washington DC
The Flats at Dupont Circle offer an exceptional location, modernist and thoughtful lobby, but not much interior design to match. Hardwood floors, plush carpeting in the bedrooms, Formica countertops, and cultured marble bath vanities mar what is otherwise a thoughtful design of common areas and great interior courtyard. Archstone and Charles E. Smith developed this 306-unit property, a former Embassy Squares Hotel that they emptied and renovated in 2007, with architecture by WDG Architecture and interior design by Forrester Construction Interior Group. At least the modern design of the lobby, Click! Cafe (with WiFi), fitness center and party room give a general aura of sophistication to apartments that are rent-controlled. Common amenities include pilates/yoga studio, outdoor circular pool and patio, BBQ grills and laundry room in lower level. The building maintains a two pet policy (breed, age & weight restrictions). The apartment building is just a few blocks from Metro set between Dupont Circle, the West End, and downtown Washington DC.

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The Amelia Fills in Ballston

The Dittmar Company is nearing the end of work of their newest Arlington County apartment project: The Amelia.

Designed and constructed by the same in-house Dittmar team responsible for the company's other Northern Virginia holdings - including their most recent developments at 1325 Pierce and Quincy Plaza - the Amelia is set to include 108 rental apartments, 4,158 square feet of ground floor retail (soon to be occupied by a mattress dealer) and 147 parking spaces. Flashy it may not be (we're looking at you, pillow top provider), but it’s a surefire improvement over 816 North Oakland Street’s former use as a four-story office building and adjoining Pizza Hut – two things off the menu for tenants when they begin to relocate to the building just off Wilson Boulevard early next month.

“Our first apartments will be in place by the 8th of May. Everything is ready [for that date], except that...we are waiting on Arlington County to give us permission to start moving in. We are pre-leasing at this point,” said Dittmar Leasing Consultant, Marsha Graham.

The building’s amenities are duplicitously friendly to health nuts and couch potatoes alike with a “cardio theater and strength equipment” for the former, while the more sedimentary folk can look forward to a “community room/media lounge with flat screen TV’s” and a “full service business center equipped with 24” Apple iMac computers. Interior decorum comes on the form of Corinthian countertops, “designer ceramic tile floors,” nine-foot ceilings and private balconies overlooking Oakland Park. Also in keeping with the current zeitgeist, the Amelia also Dittmar’s first foray into eco-friendly architecture.

“We are the first green building that Dittmar has built,” said Graham. “We are sound baffled and wonderfully insulated. All of the appliances are Energy Star rated, including a HVAC system...that is said to be 15% more efficient for heating and cooling.”

Rents at the Amelia are currently starting at $1625 for a one-bedroom with two-bedrooms priced from $2595 on up.

Arlington Courthouse Apartments to Replace Old Executive Office Building

Arlington's Courthouse District will be losing a prominent eyesore in the New Year, if Erkiletian Real Estate Services has their way at 2009 14^th Street. A proposal pending before the Arlington Planning Commisision calls for the demolition of the 45-year-old Executive Building and adjoining parking garage (pictured) to make way for two projects that will add new condos, retail and even an entertainment venue to one of Arlington's most desirable neighborhoods.

With all the effete charm of a suburban dentist’s office, the 7-story, glass-plated bastion of Northern Virginia office architecture currently houses the Arlington Chamber of Commerce, the ominous sounding Allen Etiquette Institute and a gaggle of law firms. An amenable Planning Board staff has labeled the building “physically out of context with the neighborhood” and believes that it “obstructs the existing view” of the much revitalized Courthouse area – a judgment that would seem to work in favor of Erkiletian.

With design from the Lessard Group, the Alexandria-based developer plans to replace the Executive Building with two dissimilarly-scaled projects. The more prominent would be a 16-story, 239,000 square foot residential high-rise that would sport 247 rental units. The unnamed tower would occupy the bulk of the parcel’s southern half and front 14^th Street North – just two blocks from the Courthouse Metro. In exchange for environmentally advanced LEED Gold certification, Erkiletian hopes to receive a “bonus” of .35 FAR (buildable square footage) on top of the 4.8 FAR residential density approved for the site.

Meanwhile, the project’s secondary component aims to replace a small piece of the Executive Building’s lost office potential - with a 2-story, 13,765 square foot office building that would include 2,148 s.f. of ground floor retail. The square-shaped “cube” would front North Taft Street and also serve as an entranceway to a new 1/3 acre private plaza that would divide the dueling developments.

In addition to providing a reflecting pool and off-street outpost for resident smokers, the plaza would also benefit the greater Courthouse community with a publicly accessible amphitheater that would host four to six concerts or events yearly. Erkiletian intends to include a public art component in the plaza, pending an agreement with Arlington Parks, Recreation & Cultural Resources.

In stark contrast to the Executive Building’s 60s-style motif, the development team intends to clad both buildings in “terracotta/beige brick” with metal, concrete and granite accents. The neighboring projects will both sit atop a three-level, 270-space parking garage – one level of which will creep above grade along Taft Street and provide direct access to ground floor retailers and a proposed fitness center.

Erkiletian is currently projecting a third quarter 2009 start date for the project - shortly after work on their 200 unit residential project in neighboring Alexandria is scheduled to get underway.

NoMa Development Breaks Ground, Part VII

On Monday, at 10:30am, Mayor Adrian M. Fenty and assorted camera-seekers will join developer StonebridgeCarras at 2nd and N Streets, NE, to break ground at for the first phase of Constitution Square. The developer will officially kick off its 1.6 million square foot project (pictured) at the ceremony, a mixed-use building that will include 440 apartments, a 200-room Hilton Hotel, a 50,000 s.f. Harris Teeter grocery store and massive office space - 589,000 in Two Constitution, and 350,000 in One Constitution. The project is the first major mixed-use project to break ground in the NoMA neighborhood.

StonebridgeCarras, with Chicago-based partner Walton Street Capital, had announced several major leases over just the past few weeks, including the Department of Justice lease of 88% of the office space of Two Constitution Square, and the 20-year lease of Harris Teeter, which hopes to open in late 2010. The project sits adjacent to the New York Ave. Metro station; the residential portion will be designed by Bethesda's SK&I Architectural Group. HOK Architecture is designing the office space; the project is being ambitiously designed to achieve a LEED Gold certification by the U.S. Green Building Council.

Bad News for Brookland Condos

Brookland Square, formerly known as 1300 Rhode Island Avenue, will now go forward as an apartment building. The 326-unit condo project was initially approved as such back in 2006, but Columbia General Rhode Island, LLC and Republic Land Development sent a letter to the Board of Zoning Adjustment on March 4th requesting modification of the approved plans, to switch the condo to a rental building. In a BZA order dated Tuesday, the Board approved the modifications.

"The Applicant contends that it has spent a considerable amount of time attempting to reduce construction costs and improve the economics of the project, particularly given the very difficult economy and housing market," the approving order stated.

BZA, obviously no Pollyanna when it comes to the economy or housing market, stated gloomily "Because the condominium market in the District of Columbia (and nationwide) has stalled and is predicted to not recover for several years, and the economy, and in particular the credit markets, has dropped to recession or near-recession levels, the Applicant has been forced to redesign the project and convert it from a condominium to a rental apartment building and to undertake numerous and significant cost-cutting efforts in order to reduce construction costs and make the units affordable to the rental market."

Developers will re-work the design plans to meet the needs of an apartment building, including reducing the size of the units and adding two units per floor, for an overall increase of 10. Each of the fourth-floor private rooftop terraces have been eliminated; alas, doing away with the need for the spiral staircases leading up to them. Finally, an on-site leasing and management office will be added to the ground floor, reducing the size of the ground-floor residential units.

Eric Colbert Architects is the designing the building while Republic irons out the project's financing - a groundbreaking date is anticipated by the third quarter of this year.

Help Wanted: 1600 North Capitol Seeks Developer

A 77-unit mixed-use project will soon rise at the corner of Florida and North Capitol Streets, NW, if a suitable development partner can be found. The design of the project at 1600 North Capitol Street, NW, is currently being inked by DC-based Bonstra Haresign Architects, and the owner is now seeking a savvy developer to see the project through (phones are open, call now, don't wait). The 18,984-s.f. chunk of vacant land will house a 7-story, L-shaped building, with approximately 117,000 s.f. of space, serving both residential and retail purposes, according to the architects.

Florida and Q Street, LLC initially applied for zoning approval back in February of 2006; the typical zoning procedure ensued, but surprisingly, "There were no parties in opposition," according to the Zoning Commission. Other than a few minor changes to the design of the building's facade, the P.U.D. application went swimmingly. NCPC (National Capital Planning Commission) approved it in December of 2006, followed by Zoning's approval in January of 2007.

The now-approved P.U.D. application had requested that the zoning for the site be changed from C-2-A to C-2-B, which would allow for: An increase of residential lot occupancy to 75%, a 15 ft. increase in maximum building height to 65 ft. and "medium density" development on the lot by right. Yet in the same approval, NCPC and the Zoning Commission gave the nod for the design of a taller structure than the by-right zoning permitted, approving a 7-story central tower at the intersection of North Capitol Street and Florida Avenue; the building will now measure 81 ft. from N. Capitol Street, and 86 ft. from Florida Ave.

Of the 77 units, 73% will be one-bedrooms and 26% will be two-bedrooms; and one lucky person will get a three-bedroom unit. The plans also include approximately 5,000 s.f. of ground floor retail along Florida Avenue and two levels of underground parking to create a total of 84 parking spaces.

"We're anxious to continue work on implementing an important residential project in a fast-developing corridor of the city," said Bill Bonstra, Principal at Bonstra Haresign, "Mr. [Joe] Mamo has worked diligently with the community, hand in glove, to understand their needs. In response to community requests we've incorporated neighborhood retail into the project," Bonstra added.

NOMA Waitin' for First Residential Building

The Cohen Companies’ Union Place, the first of several residential buildings planned for the NOMA Business Improvement District (BID), held their ceremonial groundbreaking this week. At the project’s completion, the development will include 700 residential units two blocks from both Union Station and the New York Avenue Metro Station at 3rd and K Streets, NE.

Designed by Bethesda-based GTM Architects, the project will be built in two phases; the first, named the “Loree Grand” after Loree Murray, a neighborhood leader and activist, is slated for completion in mid 2009 and will include 212 apartments in a 10-story structure, some of which will be voluntarily designated as affordable workforce housing by the developer. Though not bound by the affordable housing requirements that accompany deals with the DC government, the developer has allocated 11 percent of all apartment homes as affordable. Phase one will also deliver an interior public courtyard, "green" roof, childcare center, fitness center, 4,000 s.f. of retail space, and underground parking that will allow one space per unit. Phase two is planned to raise the height to 14 stories. Rick Conrath, principal of GTM and project architect, says the K Street frontage will allow an attractive street presence, with wide sidewalks permitting a generous separation between vehicular and pedestrian traffic; conforming to DC's vision of the avenue as a walkable boulevard with cafes and shopping.

At the completion of both phases, the project will have seven different floor plans that range from junior one-bedroom units starting at 516 s.f., to two-bedroom-plus-den units of more than 1,400 s.f., as well as an indoor/outdoor swimming pool opening onto the courtyard. Cohen has acquired 42 separate properties and is in good company among other large-scale developments likely to begin soon, including Archstone Smith’s project at 1st and M, and MRP Realty’s Gateway Project at the intersection of New York and Florida Avenues.

Elizabeth Price, President of the NOMA BID, tells DCMud that almost 3 million s.f. of development will break ground in the now-vacant neighborhood by the end of the year, including the neighborhood’s first hotel, the Courtyard by Marriott. Plans for a grocery store are also in the works, the name of which has not yet been announced.

With 1500 rental apartment planned for next year, Price noted, “Everything that is planned as residential in NOMA for the next 6-12 months is rental, which is not a surprise given the condo market. The first phases are planned as apartments, but many have second phases that may change to condos.”

The seventh in the District, the NOMA BID was established in March and is bounded by Massachusetts Ave. on the South, North Capitol Street on the West and Q and R Streets on the North. It extends beyond the CSX/Metrorail tracks on the East.

Trammell Crow Readies Work on Alexan Project in South Arlington

No longer will you be able to glimpse the familiar site of the old EconoLodge Motel alongside the western side of Interstate 395 at 2485 South Glebe Road while driving south, as developer Trammell Crow Residential has finished demolition work on this site in preparation for the early 2008 construction start for its $50 million Alexan at South Glebe project. The Alexan, located less that a mile from Shirlington’s restaurants and shops, is expected to be a 217-unit apartment building skewing toward young professionals. Twenty units will be set aside as affordable housing. Plans also call for about 330 below-grade parking spaces. The Alexan is expected to be completed in 2010.

White Flint View Moves Forward

On July 12, the Montgomery County Planning Board approved the preliminary plan submitted by builder Naples Commercial LLP for White Flint View, its proposed development for the 1.87 acres located at 5511 Nicholson Lane (at the north end of Huff Court) in North Bethesda, just east of Rockville Pike and the White Flint Metro station. Naples intends to construct a 16-story tower with underground parking containing 183 residential units (about 23 units will be reserved as moderately priced dwelling units), as well as 29,500 sf of retail, including a sit-down restaurant. The plumbing supply store now on the lot will be torn down. In addition, Naples will contribute to the County’s planned extension of Citadel Avenue from Marinelli Road south to Nicholson Lane, where it will connect with Huff Court. No timeline is yet known for this project.

DC Council Approves Sale of 6428 Georgia Avenue; Park East Back on Track?

Last week, the DC Council gave unanimous approval to the sale of 6428 Georgia Avenue NW, a 5,184-sf lot containing a vacant building of 7,000 sf (formerly Blockbuster Video), to Georgia Avenue Investment Partners, LLC (Ellis Denning) for almost $4 million, bringing to a close the short, odd tale of this Brightwood property. A year ago, Ellis Denning actually owned this land, and had plans to construct Park East (pictured), a condo-retail complex on the site. But in August 2006, the DC government, threatening eminent domain, managed to purchase the lot from Ellis Denning for $3.9 million with the intention of building a firehouse for Fire Engine Company 22. Soon after, opposition to this plan was raised, with many pointing out that a firehouse would be inconsistent with efforts to revitalize this stretch of Georgia Avenue as a livable, pedestrian-friendly space. With this in mind, the DC Council passed a bill to sell the lot back to Ellis Denning at the same price for which it was purchased from them. Ellis Denning is expected to now move forward with its plans to build a 5-story complex on the lot, but now with 39 apartment units rather than condos (12 units will be affordable housing). Design is by Hickok Cole Architects.

Washington DC real estate development news

Court Dismisses Lawsuit Challenging Views at Clarendon Project

On July 11, the Arlington Circuit Court dismissed a lawsuit filed by Clarendon residents that challenged the Arlington County Board’s approval of the First Baptist Church of Clarendon’s Views at Clarendon project, clearing the way for this contested development just a block from the Clarendon Metro station. The judge, in rejected the eight counts of the lawsuit filed by three residents after the Board approved the project in February, stated that the complainants failed to show the Board acted improperly in its decision, and that the zoning change by the Board was acceptable. While this case may still be appealed to the Virginia Supreme Court after a final order is entered, it appears that the Views at Clarendon might actually now see the light of day. The First Baptist Church of Clarendon is looking to build the Views at Clarendon, a mixed-use church and residential development, at its current location at 1201 N. Highland Street. The project will keep the church's 107-foot steeple, while rebuilding the church (a smaller version) within a 10-story, 116 rental-unit structure (with 70 units reserved for moderately priced housing). The project will also preserve Arlington’s largest child care center, which serves 185 children.

Silver Spring Transit Center MOU Approved

Last week, the Montgomery County Planning Board reached a Memorandum of Understanding (MOU) with the Department of Public Works and Washington Metropolitan Area Transit Authority (WMATA) regarding the massive mixed-use development project slated for the site of the Silver Spring Metro station, clearing the way for the issuance of bids for this $75 million development. The new Paul S. Sarbanes Silver Spring Transit Center, as the project is called, broke ceremonial ground last November, and is expected to be completed in 2009.

The Silver Spring Metro station is one of the busiest transit centers in the Washington area, currently serving 27,000 Metro riders, 32,000 bus riders and 1,100 MARC train riders daily, a number that is expected to increase to 97,000 patrons per day by 2025. Under the MOU, the Planning Board agreed to exchange its 35,000-sf Metro Urban Park (located on the current site) for an 11,633-sf park at the transit plaza entrance and an 11,590-sf park just off site. In addition, the Planning Board made clear it expects the county and WMATA to build all “essential elements” for the Center (escalator canopies, shade tress, light fixtures, etc.), and for any necessary additional funding to be sought from Federal and/or state governments.

If project plans hold, the development will transform the 5.7 acres around the metro station into a new three-story transit hub, with the first two levels for buses, and the third for metro’s Kiss and Ride, taxis, and some parking. The project will also feature two residential buildings containing 469 units, a 196-room hotel, 25,000 sf of street-level retail adjacent to Colesville Road and Wayne Avenue, and a public plaza. When completed, the Center is expected to significantly enhance access to existing Metrorail, Metrobus, Ride-On, MARC rail, bus and taxi, and the Metropolitan Branch Trail, as well as the planned Purple Line. The private development is being handled by Silver Spring Metro Center Partnership/Foulger-Pratt Development, with architecture by Zimmer, Gunsul and Frasca.

Logan Circle's Wardman Row Buildings to Stay Affordable, Get Upgrades

With the Logan Circle neighborhood gentrifying northward along 14th Street NW, and the concurrent redevelopment of the U Street corridor working its way downward, many wondered what fate was in store for the number of affordable housing buildings in this area. Once such development is the row of housing holding 124 units located along R Street just west of 14th Street. The answer is now clear, as the expected new purchasers of five of the seven buildings in the complex (1416, 1428, 1432, 1436 and 1440 R Street NW) are planning to implement more than $6 million worth of renovations once the sale is completed later this summer, and the units will be offered with more diverse income-level requirements than before.

Non-profit group NHT Enterprise and the Hampstead Development Corp. are believed to be paying current owner R Street Associates LP $11 million for the five buildings (1420 and 1424 R Street are not part of the deal, and are owned by another entity). The new owners have already requested funding from the DC Department of Housing and Community Development and the DC Housing Finance Agency toward the expected upgrades to the five 4-story buildings, which should begin this fall and continue for the following year. Residents will continue to live in the units during the work, which will include new kitchens and bathrooms, plus new roofs that incorporate "green" features.

The other major change will come with the income requirements for these units. Currently, the property owner receives federal subsidies to keep the units affordable, and the top threshold for these units is $28,350 for a family of four (30 percent and less of the area’s annual median income). Under the new ownership, residents will instead receive Section 8 vouchers which they can use to stay at these units, or to rent elsewhere. In addition, there will now be “tiers” of affordability, with 6 brand new carved-out units renting at market rate with no income restrictions; of the existing 124 units, 94 units will require a 60 percent and below annual median income, 24 units will require a 50 percent and below median, and 6 units will remain at 30 percent and below median.

The "Wardman Row" buildings have experienced a long and lively history. First built by Harry Wardman and architect Albert Beers in 1913-1914 in the Classical Revival style as affordable apartments, the buildings watched as the neighborhood fell on hard times after the riots of the late 1960s left 14th Street scarred. The buildings underwent renovations in the 1970s and 1980s, and were put on the National Register of Historic Places in 1984. They have since watched new shops and restaurants open on either side since the 1990s.

"What's Happening on East Capitol Street Near RFK?"

In response to the throngs of rabid dcmud readers (of course, throng in the blog-based community being a few dedicated, astute readers) asking "what's the deal?" with a possible development site along East Capitol Street near RFK, we decided to take our jalopy down there to report back our findings. It appears that developer Comstock East Capitol LLC has some plans in store for 1705-1729 East Capitol Street SE, the site of a vacant, 80-unit apartment building (pictured) bounded by East Capitol Street SE to the north, 18th Street SE to the east, A Street SE to the south, and 17th Street SE to the west. The 42,629-total sf plot is directly across the street from Eastern High School and just blocks to the Stadium-Amory Metro and RFK. Comstock’s consolidated planned unit development (PUD) proposal indicates the company plans to demolish the abandoned structure and build a new five-story, 134-unit apartment building (11 being affordable housing), with a garage holding 113 parking spots. The developer has submitted an application to the DC Zoning Commission to upzone the property density to allow its project (the parcel is currently zoned R-4, but Comstock will need R-5 zoning to build at its proposed size). Advisory Neighborhood Commission 6A (ANC6A) originally went on record as opposing the zoning application for this project (in a 6-0 vote), noting that the size of the project was not in line with this residential neighborhood, as well as what it felt was an insufficient number of designated affordable units (it would like to see 20 percent (at least 26 units) be affordable housing). However, there is indication that the Commission is developing a working relationship agreement with Comstock where the developer will work with the Commission on ensuring the community’s voice is heard with the project, plus a possible donation by Comstock to Eastern High School and Eliot Junior High to improve their athletic fields. The public hearing on the zoning request has been repeatedly delayed, most recently the June 18 meeting. We will keep you up to date as we learn the fate of this project, and of course, please send any tidbits you have (or correct us) on any project you see in your neck of the woods!
(h/t on this story to commenter mr. x)

Silver Spring's Moda Vista Residences Project Expected to Be Approved

While we have recently been fixated with the development lined up in south Silver Spring, we’d be remiss if we didn’t catch up with what’s happening northeast of the Red Line tracks and Georgia Avenue. The latest news arrives regarding the Moda Vista Residences project, a 1.27-acre development slated for the southeast corner of Fenton Street and Silver Spring Avenue (8115 Fenton Street), currently the site of parking lots and two detached homes. The Montgomery County Planning Board is expected next week to approve the project plan submitted by Fenton Development LLC, which calls for a five-story, 94-unit residential building (12 being moderately priced dwelling units) with 3,500 sf of ground-floor retail. The project also calls for an 8,331-sf plaza running along Silver Spring Avenue, plus two exterior public art displays on the site. In addition, the façade along Silver Spring Avenue is to gently transition downward to match the detached homes to the east of the project. An interesting side note is that this property lies in a possible path for the proposed Purple Line; if so, studies are underway that envision the Line going through a tunnel at this point and not affecting this project. There are no further details regarding groundbreaking or completion schedule for the project at this time.

New Changes at Rockville Town Square Project

Back in April, we first reported that development team RD Rockville (ROSS Development and Investment and the DANAC Corporation), citing poor sales, had decided to switch one of the four condominium complexes (specifically, the Lunette building) in its $350 million, 12.5-acre Rockville Town Square project from condos to apartments, and had notified buyers of the decision. Now comes word that in late June, RD Rockville sold off three of these residential buildings (the Lunette, the Venetian and the Fenestra) to an affiliate of CIM Group of California. The sale, complete details of which have yet to be disclosed, was handled by Sonnenblick Goldman. The fourth building, the Palladian, is currently being sold as condominium units by RD Rockville. The Rockville Town Square project, containing 644 residential units and 180,000 sf of retail, is located along (and to the west of) Rockville Pike, just two blocks from the Rockville metro station, and bounded by Beall Avenue to the north, Washington Street to the west, and E. Middle Lane to the south. Design by WDG Architecture. Early indication is that CIM Group will offer the residential units in these three buildings (which contain 492 of the 644 total units between the four original buildings, plus retail) as rentals (management will be by Realty Management Services), with leasing expected to begin this month.

For Sale - Silver Spring's The Blairs

Interested in some property? OK – how about a lot of property, namely a large chunk of south Silver Spring residential and commercial property? Anyone with passing familiarity with Silver Spring is well aware of The Blairs, the massive mixed-use residential, retail and office complex located just south of East-West Highway (and the Silver Spring metro) and north of the DC line, bordered on the east and west by Colesville and Blair Mill Roads. Well, this past week property owner The Towers Cos. placed a “For Sale” in the window, the first time the complete 26-acre property has been put on the market since it was first developed in the 1960s. In total, The Blairs consists of 1,397 rental units spread between three hi-rises, garden apartments, and townhouses, 83,154 sf of retail space (including the Giant supermarket, CVS, and other stores in the shopping strip), and 69,517 sf of office space.

While the complex could simply change hands with residents not even noticing the switch (except for maybe a rent bump), it is interesting to note that the Cassidy & Pinkard sales flier indicates that the property could easily be expanded, stating that new development capacity could include 1,403 additional apartments, and 297,329 sf of new commercial space. Such expansion would certainly add a wrinkle to the already-significant level of development happening at this corner of East-West Highway and Blair Mill Road. Just east across Blair Mill is the still-selling, 151-unit Mica condo conversion, and rubbing shoulders with the Mica is the 96-unit The Argent project, which just broke ground last month at 1200 Blair Mill Road. Just northeast of The Blairs is the 247-unit 1200 East-West project, which broke ground in June, and across East-West Highway from this project is the 460-unit Silver Spring Gateway project. We might as well also go west and throw in the 1,020-unit Falkland North project at the corner of East-West Highway and 16th Street. The best investment of all, with this myriad development? One of those silvery Food Trucks that stops on the works sites twice a day to serve breakfast and lunch to the construction crews – now they will be doing brisk business for the next few years!

"Conversion Reversion" Hits Leesburg Project

As mentioned in our "DC Condo Growth to Slow" column from Friday, the number of condominium units coming to market is less than originally projected, as developers pull back in the face of uncertain market perceptions and cancel new projects, or reverse plans to convert apartments to condo units. The latter progression – apartments to condos, then back to rentals, or "conversion reversion" – is what is now being reported for a major residential development in Leesburg. In 2005, Reston-based Comstock Homebuilding Cos. announced plans to convert Bellemeade Farms, a 316-unit garden apartment community located on Gateway Drive just off Route 7 that it had just purchased from Fairfield Residential, into condominium units. However, this past February the company, after upgrading a number of units and actually selling 58 condos in the new project, decided to scale back the number of condo conversions in the community. And now Comstock has decided to forgo the project completely, just last week closing on the $48 million sale of the community to Chicago-based Waterton Associates. Waterton will now develop the property as, once again, rentals. Waterton has also worked with Comstock to purchase back the already-sold-as-condo units. Rentals to condos to rentals … to who knows what next time – stay tuned.

Washington DC real estate and retail news

Randall School Project Update

Last November, the vacant Randall School at Half and I Streets in Southwest DC, long the desire of many dreaming developers, was purchased by the Corcoran Gallery of Art, which announced it had bought the 80,000-sf building from the DC government for $6.2 million, and hired Monument Realty to manage its renovation into new art space and apartments. However, last week the Southwest Advisory Neighborhood Commission (ANC 6D) voted in opposition of this renovation plan, stating that the development didn’t do enough for the surrounding community. The Corcoran was hoping to gain the commission's approval before going before the Mayor’s office on June 27 (and after that the Zoning Commission, as part of the historic structure is slated for destruction), though the ANC’s approval is not required.

The Corcoran, which has outgrown its home on 17th Street near the White House, envisions using half of the fixed-up school for studio, classroom, and display space for its larger-scale art collection, while converting the other half of the building into market-rate and affordable apartments. There will also be underground parking. As part of its deal with the city, the Corcoran will offer some space in Randall to artists who used to lease space in the building. For this project, the Corcoran will sell Randall to Monument for $8.2 million, which will then manage the building. The Corcoran is donating its profit from the sale to the city’s public school modernization fund. As for the apartments, while numbers are not yet known, twenty percent of the units will be affordable housing.

Takoma Project Gets Underway as Apartments

The developer of the aborted Centex project, the Pavilions at Takoma, has begun excavation on the site to carry the project forward, now as an apartment complex. Atlanta-based Gables Residential, which owns numerous apartment buildings throughout the DC area and has substantial assets throughout the Southeastern U.S., demolished the existing structures after it purchased the land from Centex in January of this year, and has begun underpinning to make way for the new building. Gables will go forward with the same Eric Colbert-designed project originally planned by Centex, with 144 units, 180 underground parking spaces, and street-facing courtyard two blocks from the Takoma Park Metro Station, but will develop the property as rental apartments instead of condos. Centex began selling the project as condominiums in the Fall of 2006 before selling the development outright, but sales for the project were reportedly slower than anticipated, one of several Centex projects locally that began marketing but never got out of the ground. Gables expects the project to complete in the first quarter of 2009.