Showing posts with label retail. Show all posts
Showing posts with label retail. Show all posts

Tuesday, May 22, 2012

ICSC Spotlight: DSW takes over D.C., L St. Borders site gains a future

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DCMud’s man at the International Council of Shopping Centers Convention survived that shopping center jungle with a couple new updates, both conspicuously involving clothing …

  •  DSW, the footwear retailer, plans to open three new stores in Washington, D.C. One will be in Columbia Heights, one in Friendship Heights and one on Connecticut Avenue. So anyone who has been stocking up on heels for the coming shoe drought can breathe easy.

  •  Following the trend of transforming ex-Borders into things that have absolutely no hope of raising the national literacy rate (see: the Hamilton), a large but as-of-yet unnamed clothing retailer will be taking over the old Borders site on L Street.


Friday, June 26, 2009

The Monty Makes (Another) Go of It in Bethesda

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Montgomery County Maryland commercial real estateThe would-be developers Monty, LLC will head back to the Montgomery County Planning Board on Thursday, July 2nd to shore up their final site plan for The Monty - a high-rise residential project on a The Monty apartments, Bethesda, SK+I, Parker Rodriquez landscape architects, Woodmont Triangle1-acre lot in Bethesda that currently hosts several vacant storefronts from 4915-4917 Fairmont Avenue and 4914-4918 St. Elmo Avenue in the Woodmont Triangle. Since its initial approval in May 2007, the 17-story residential development has grown (via an update to the developer's plans this past March) from 133 apartments to include "a maximum of 200 units" for a total of 210,188 square feet of new Bethesda real estate. Described by Planning Board staff as "an attractive urban infill redevelopment project,” the project is still planned to subsidize 30 moderately priced dwelling units, 7,700 square feet of ground floor retail and 211 underground garage spaces. One of the Monty’s more interesting flourishes will be the 5,480 The Monty apartments, Bethesda, SK+I, Parker Rodriquez landscape architects, Woodmont Triangle, Washington DC retail for leasesquare feet of (mandatory) public use space. A so-called “pedestrian promenade” on the building’s south side will include art installation, composed of a chain link backdrop and live bamboo, by artist Dan Steinhilber and the landscape architects of Parker Rodriguez. Once complete, the piece will “provide an animated experience as a person moves through the space” for a quasi-hallucinogenic stroll that would seem more Burning Man than Bethesda (and make it a sure-fire destination for area Zendik pamphleteers. Eew.) SK & I is performing the architectural design for the building. Since the first of this year, both the County’s Transportation and Environmental Planning divisions have both lent their final approval to the re-jiggered development scheme, as have Planning Board staff. Though the developer has not stipulated a final timeline for construction, once complete, it will stand directly across from the site of another Woodmont Triangle high-rise, the also delayed 4900 Fairmont development. The project has been approved in the past, but just might possibly happen this time. 

Montgomery County commercial real estate news

Wednesday, June 17, 2009

Founders Square Readies for Demo in Ballston

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It looks like Old Man Economy might have finally started taking his pills again. After gaining approval from the Arlington County Board in July of last year, the Shooshan Company's ambitious plans for Founders Square, a five-building, mega mixed-use development in Ballston, seemed about as promising as a GM-backed pension plan. But despite slippery start dates in all types of construction, Shooshan's Vice President of Development, Kelly Shooshan, tells DCmud the project is still on track for its originally scheduled 2009 Arlington, Shooshan, RTKL, Virginia, Paradigm Developmentgroundbreaking and that the company will be seeking a general contractor before the summer is out. "We're looking to probably be bidding the project in the middle of the summer and will probably start construction sometime in the fall or early winter," said Shooshan. Located on 4.6-acre parcel bounded by North Randolph Street, Wilson Boulevard and North Quincy Street in Ballston, the RTKL Associates-designed development will replace the industrial and non-tax paying bus lot known simply as the WMATA site, a gas station, a recycling center and a tre chi-chi Super Pollo chicken joint. Founders Square is intended to house 26,000 square feet of retail space (8,000 of which the Shooshan Company has since farmed out to Paradigm Development), 730,000 square feet of office space in two towers, and another two worth of housing for a total of 378 residential units. “The buses have been gone since March 27th,” said Shooshan. “When we start the project, it’ll start with demo…the site is just a one-story building, so it’s a very small portion of the construction timeline.” “Super Pollo will be relocating to the new retail building and there are several other tenants that have expressed interest in the other two spaces in the retail building. It’s very small retail, only 8,000 square feet. The first office building is a secured office building, so it won’t have any retail in it." The secure building will, though, have enhanced security features suitable for defense-related businesses. Arlington, Shooshan, RTKL, Virginia, Paradigm DevelopmentThe development’s residential units are tentatively scheduled to hit the market as rentals and all five Founders' buildings will aim for a LEED certification. In the meantime, the developer has yet to definitively budget the project, as it is, in the words of Shooshan, “evolving over time with the present market conditions.” "There’s such a large spread right now with construction prices decreasing every minute, it’s really hard to give a formula on the whole entire project,” she said. In 2008, Shooshan completed Liberty Center in Ballston, a 21-story, 469-unit residential building. Despite continued development, the rough and tumble Arlington 'hood has somehow managed to keep its street cred intact.

Arlington Virginia commercial property news

Tuesday, June 16, 2009

The Dirt on...14th and U

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Washington DC commercial retail and real estate for lease, 14th Street, DCPawn shops no more
As any casual observer of the area can tell you, the post-riot 14th Street that used to host DC’s finest peep shows and open-air drug markets (RIP Shop Express) is long gone. True, there are probably a dozen dollar stores hocking Obama t-shirts and incense at any one time, but the retail scene has expanded beyond just Footlocker and tattoo artistry of Pinz-N-Needlez. While Whole Foods isn't too far way, the newly-opened boutique grocer, Yes! Organic, should satisfy the immediate needs of hummus-starved newcomers. In fact, the neighborhood today boasts DC’s most impressive array of niche-centric retail with everything from gourmet confectionery (Cake Love) to pricey custom furniture (Vastu) to comic books (Big Monkey) and hand-made jewelry (DC Stem), within walking distance of the U Street/Cardozo Metro station.

Real estate’s best bet
Washington DC retail and commercial real estate for lease, 14th Street, DC
Two blocks north of the famed 14th and U interchange, DC's largest concentration of new condos and apartments is brewing, with more than 1000 new units of housing going up within a stone’s throw of 14th and W. Among those completed are PN Hoffman’s Union Row and Jair Lynch’s Solea condos, while Level 2’s View 14, UDR’s Nehemiah Center residential tower are under construction, and Perseus Realty’s 14W is scheduled to begin shortly. And, unlike, say, the area surrounding Nationals Park in Southeast, where neighborhood amenities are still absent after the residential building boom, U Street is already loaded with restaurants and nightlife of all stripes. And with Room & Board scheduled to open more than 30,000 s.f. of retail space next year, expect much more visibility for the neighborhood.

Eating out: it’s not just half-smokes anymore

Busboys and Poets, 14th Street Washington DC, Lincoln Theater, Black Cat, DC9, Nellie's, 9:30 Club, Shallal, Ms Pixies, ben's Chili BowlWhile Taco Bell and McDonald's might be the most popular dining establishments (at least at 2 am), the inroads made by funky restaurants like Busboys and Poets, Marvin (country fried chicken and waffles--who knew?) and Tabaq have gone a long way to bringing some flavor to the neighborhood. In the past months, newly opened establishments like cajun/soul food eatery, Eatonville, and The Gibson, where mixologists design the perfect cocktail, have been abuzz in the press and are the newly-minted, go-to destinations for urbanistas city- (and suburb) wide. Even greasy spoon and DC dive landmark Ben’s Chili Bowl has moved upscale by opening a white table cloth eatery, Ben’s Next Door.  After you've over-indulged, you can work it off with an Urban Funk Class at Results Gym.


Adams Morgan ain’t got nothing on U Street
While nearby Adam’s Morgan may have one thing going for it (read: boozed-up college kids), U Street’s approach to nightlife is more diversified with culture: The Lincoln Theater and Source Theater, DC's most eccentric sports bar, Nellie's, and a laundry list of music venues (The 9:30 Club, Black Cat, DC9, and the Velvet Lounge) share space next to bars that (gasp) don’t specialize in jell-o shots and specials on Miller Lite…not that there’s anything wrong with that.

But it’s still has that old school DC charm
But if you’re really attached to the iPod adapter you keep in your tape deck, it might still be good idea to take it inside before sacking out for the night. Area car thieves have made the old smash-and-grab a fact of daily life at 14th and U, much like five o’clock congestion or sidewalk sermons from Greenpeace. Whether it is women’s clothing, a half-empty pack of cigarettes or the kids’ car seat, literally nothing is too inconsequential a target for area miscreants. For a closer look, check out the MPD's crime map.

Nonetheless, don't be afraid to chill out. This is a neighborhood with not one, not two, but three yoga studios after all. Santa Monica, here we come.

Washington DC retail and real estate news

Wednesday, June 10, 2009

Room and Board Buys into 14th Street

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Washington DC retail for lease - 14th Street corridorMinneapolis-based home furniture retailers Room and Board have purchased a vacant, four-story building at 1840 14th Street, NW and plan to transform it into a fully rehabbed, 33,000 square foot flagship location - their first in the DC metro area. According to the broker14th street retail for lease, Washington DC, Room and Board signs lease, Blake Dickson who facilitated the purchase, Wayne Dickson of Blake Dickson Real Estate, the retail chain has big plans for the re-emergent 14th Street corridor and will use the entire space for their showroom.

"Room and Board is expecting this to be a regional draw for them...Through their catalog sales, they did a zip code analysis of where the majority of their customers were.  The building at 1840 14th Street was just about dead center in that customer base," he said.

Known to some as the Taylor Motor Building, 1840 14th Street began its life as a Ford Model A showroom, and, in subsequent decades, went on to to serve an array of uses, including stints as an arts space and church. Most recently, the building was slated for a residential makeover by Four Points, LLC, which paid some $10 million for the site. Plans for that project, the so-called T Street Flats, (or "Rapture Lofts") were announced in 2007, but never made it past the planning stages.

Room and Board signs retail lease in Washington DC"Blake Dickson Real Estate has been working on that property for the better part of two years…It was most recently a church, called the Church of the Rapture, and then the initial plans by Four Points, LLC had a condo element,” said Dickson. “They bought that building at the top of the market and then later decided to go all commercial with it.”

As purveyors of handcrafted, American-made furniture, Room and Board will be among the latest in a string of upscale chain retailers, including Bang and Olufsen and Whole Foods, to set up shop along the once unfashionable 14th Street corridor - the same strip that recently lost its Storehouse furniture retailer, only to gain Mitchell Gold in its place. One block over at 14th and S Streets, NW, the JBG Companies also have plans on the boards for a new mixed-use complex with ground-floor retail. (Once that Apple Store gets announced, consider gentrification complete.)

Room and Board have retained omnipresent DC architects, Eric Colbert and Associates, to design the extensive renovation, which Dickson described as a “gut job.” The build-out is expected to take between 12 and 18 months.

Washington DC retail real estate news

Tuesday, April 28, 2009

Arlington's First Green and Gold Building

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In a major coup for Erkiletian Real Estate Services' (ERES) mixed-use redevelopment of the Executive Office Building, the developer has gained both a density bonus and approval from Arlington County Board. The reason? In a first for Arlington, ERES is pursuing a LEED Gold certification for their new building - a "green" rating second only to Platinum (but who can afford that nowadays).

Located two blocks away from the Courthouse Metro at 2009 14th Street North, the aging seven-story office complex and adjoining parking garage on site will be razed in the coming months to make way for a sixteen-story titan of eco-friendly development. At present, plans prepared by the architects of the Lessard Group call for 254 rental residential units, 8,127 square feet of office space and 4,354 square feet of retail - plus, for good measure, an additional 2,257 square feet of flexible office/retail space. Couple that with a 26,145 square foot public plaza on top of the project’s three-story parking garage -which, according to the Board, will host "a scenic overlook offering views of national monuments in Washington, DC" - and Arlington legislators have reason to be pleased as punch.

“This building has it all – high-quality housing, ground-floor retail and office space and a public plaza that will offer great views of the national monuments,” said Board Chairman Barbara Favola via press release. “We get all this in a building that is built to a Gold LEED standard. This is the sort of project we want to see more of in Arlington.”

The caveat is that while developers can aim for green standards, there is no guarantee that, once built, the project will qualify as planned. A final determination will made by the US Green Building Council based on five criteria: sustainability, water efficiency, energy and atmosphere, materials and resources, and indoor environmental quality. There's no word yet on exactly what type of features Arlingtonians can look forward to bragging about once the building is completed. When DCmud last reported on the as-of-yet untitled project in December, ERES was projecting a third quarter 2009 start date for construction – shortly after they begin work another 200-unit residential building at 621 North Payne Street in neighboring Alexandria.

Alexandria real estate development news

Friday, April 10, 2009

New Mixed-Use for Arlington Strip Mall

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Fairfax-based development company Walnut Street Development (WSD) hopes to bring some needed mixed-use development to their backyard. Just across the county line, the company has teamed with architect Ann Ardery for a mixed-use makeover of an Arlington strip mall at 2515-2525 Lee Highway.

The three to four story project aims to deliver 22 new apartment units, along with 13,000 square feet of retail. The 22,643 square foot lot currently hosts a one-story, 4,500 square foot edifice whose sole retail contribution is now a 7-11 and adjoining vacant storefront. WSD’s project plan also calls for a “predominately underground garage” with 73 parking spaces and a LEED silver certification. Though the developer has yet to specify what kinds of retailers they’ll be courting for the project, they have assured local residents that some sort of “convenience retail” – ala the current Sleven at the site – will be included.

The project’s dimensions have shifted somewhat since it was originally submitted to Arlington County in 2004; the project’s first incarnation called for 24 residential units with a diminutive 3,750 square feet of retail. Through meetings with the Planning Commission and Transportation Commission, as well as presentations to the residents of the neighboring Cleveland House Condominiums and the North Highland and Lyon Village Civic Associations, not to mention market forces, the project has re-emerged with stronger emphasis on the planned retail space. The project goes back before the Arlington County Board again April 26th.

In the meantime, WSD is also well underway on at their Residences at Old Town Square development. That project, located at the former site of the Fairfax City Library, will contain 80 new condos in two buildings and is scheduled to deliver later this year.

Arlington Virginia real estate development news

Friday, April 03, 2009

The Millennium Arrives in Pentagon City

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General contractors BE&K Building Group will top out construction today on Kettler’s 21-story Millennium at Metropolitan Park project – the second installment of what is planned to be an ambitious 8-phase, 10-building development in Pentagon City. The project’s first component, the 399-unit Gramercy, opened in 2006.

Once completed in April 2010, the Dorsky Hodgson Parrish Yue-designed building will feature 300 rental apartments with high-end amenities including “a rooftop pool, spa, fitness center and party room,” in addition to a first floor library and business center. More than 7,500 square feet of ground floor retail space will round the initial construction. Work on a “central park planned to serve residents of the entire Metropolitan Park complex” will begin in the project’s next phase – which Kettler’s Jamie Gorski told DCmud in February is currently scheduled to go to ground later on in 2010 with a late 2012 delivery.

Wednesday, July 25, 2007

The Sound of Silence – Birchmere Cancels Plans for Silver Spring Music Hall

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And now for a story that harshes our mellow, considering dcmud’s mini-obsession with music (after our real estate crush, of course). Last September, we reported that Montgomery County officials had announced a partnership with Lee Development Group that would bring a new branch of the Birchmere Music Hall to the old art-deco J.C. Penny building at 8656 Colesville Road (owned by Lee Development), located at the corner of Colesville Road at Fenton Street in Silver Spring, by 2009. The Birchmere – a long-time stalwart of the Del Ray, Alexandria, scene on Mount Vernon Avenue (old-timers like us will also remember its original location in Old Town), has supported many major singer-songwriter talents, including well-known performers such as Mary Chapin Carpenter, Lyle Lovett, and John Hiatt.

However, this week Birchmere officials announced that the planned $8 million, 800-seat venue (pictured) is now off the table, and that Montgomery County officials and Lee Development both have backed out of the deal. Instead, it appears that this location might instead see the development of a 152-room hotel, 183,000-sf office building, a 650-space garage, and a "stand-up" nightclub. (A comedy club? Shudder ....) While the loss of The Birchmere is a blow to music lovers, at least developers appear to still be singing a positive tune on Silver Spring’s potential.

Update: The Post is now reporting that instead of the Birchmere, a bigger music venue is in consideration to occupy this space! Live Nation, the world's largest producer of live concerts, is contemplating putting one of its Fillmore-branded clubs here, and would make the club three times as large (over 2,000 capacity) as what was planned for the Birchmere. While we'd personally prefer having the homegrown Birchmere and its emphasis on intimate shows, the Fillmore coming would be a major coup on Silver Spring's part. Stay tuned ....

Tuesday, July 24, 2007

Developer to Expand Hyattsville Project

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As the redevelopment of Route 1 in Hyattsville into a vibrant, livable city center moves forward, Bethesda-based developer EYA is already making plans to add new residential units and commercial/retail space to its current $125 million "Arts District Hyattsville" plan for the area. EYA has agreed to purchase two additional properties next to the former Lustine Chevrolet dealership lot (where Route 1 hits Madison Street), which it is now in the midst of redeveloping, with Phase I delivering 12 "live-work" units plus 119 townhouse-style row homes that are scheduled for Spring 2008 completion (and will sell for between $400,000-$600,000), and Phase 2 promising 220 more row homes, four "live-work" units, and 34,500 sf of retail and restaurant space (pending plan approval by the Prince George's County Planning Board this fall). With its new land purchases, EYA envisions building either 82 new residential units, or perhaps 12 residential units and a mix of commercial and retail use. EYA’s "Arts District Hyattsville" project is part of Maryland’s designated effort, launched in April 2005, to redevelop the town’s Route 1 corridor into a "gateway arts and entertainment district."

Wednesday, July 11, 2007

NoMa Gets Its First Hotel

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On July 11, the usual DC official suspects (including Mayor Fenty) joined the ownership team headed by The Finvarb Group in breaking ground on the first new hotel squarely in the North of Massachusetts (NoMa) area in Northeast DC (usually delineated as being bounded by Massachusetts Avenue to the south, North Capitol Street to the west, Florida Avenue the north, and about 3rd Street NE to the east). The eight-story, 218-room Courtyard by Marriott will be located between the New York Avenue Metro station and the new US Bureau of Alcohol, Tobacco, and Firearms (ATF) headquarters, and will feature 10,000 sf of ground-level retail, including at least one outdoor café. In addition, an elevator will provide direct access from the plaza between the hotel and the Metro station entrance to the elevated Metropolitan Branch bicycle and pedestrian trail running alongside the Metro track. The hotel will also be next to MRP Realty’s planned Washington Gateway project, and the Florida Avenue Market redevelopment.

Saturday, July 07, 2007

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

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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.

Friday, July 06, 2007

Southeast’s "Blue Castle" Property Back On Market

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According to the Washington Business Journal, a much-eyed parcel of land near the Navy Yard and the new The Yards project and Nationals Ballpark in Southeast is back on the market. The almost 100,000-sf, Civil War-era “Blue Castle” building at 770 M Street SE (and the 1.6 acres it sits upon) is now owned by Preferred Real Estate Investments Inc. of Conshohocken, PA, which bought the property for $20.2 million in 2005. The current sale is being handled by Cassidy & Pinkard Colliers. Whoever the buyer is, they will inherit the current leases now being used through 2012 by charter schools Eagle Academy Public Charter and Kipp D.C.'s Key Academy. At that point, the property will most likely be redeveloped; the current zoning is for retail and office development of 214,000 sf. Cassidy & Pinkard Colliers has already reportedly received a number of proposals, though no decisions have been made at this time.

Wednesday, July 04, 2007

New Changes at Rockville Town Square Project

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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.

Tuesday, July 03, 2007

For Sale - Silver Spring's The Blairs

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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!

Thursday, June 28, 2007

New Hotel Coming to the West End

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One of the hottest areas for development these days is the District’s West End, the once-quiet stretch of Northwest Washington between Dupont Circle and Georgetown (north of Foggy Bottom) best known in the past for its unremarkable office buildings and lack of retail … well, excluding the long-gone and missed Cineplex West End Theater and the original Goldoni restaurant on 22nd Street between L and M Streets, and the more-recently gone and not missed Lulu’s nightclub on M Street. But new development is quickly awakening this area, starting a few years ago with the building of the Ritz-Carlton hotel/condo at 22nd and M Streets, followed by the Columbia Residences development and The Atlas on 25th Street, the new Trader Joe’s grocery store, and still more to come. The most recent news now comes with Perseus Realty’s announcement that it plans to build a new luxury hotel for Starwood Capital Group called "The One" at 2201 M Street, the site of the former Nigerian Embassy, just across the street from the Ritz. While Perseus still needs to gain approval for the project from the DC Zoning Commission (as it would exceed current zoning permission), the developer envisions a LEED-certified “green” hotel, with a glass and greenery-filled atrium stretching from floor to roof visible from the exterior. In all, the building would be 125,000 sf and 110-feet tall. Perseus expects to submit its formal zoning application in late July.

Update: The Washington Business Journal is reporting the hotel will officially be called "1 Hotel & Residences," and the $100 million, 5-star hotel will feature 180 rooms, a "double skin," vine-covered surface to insulate the building, and solar water heating. Ground is expected to be broken in summer 2008, with completion in late 2009.

Tuesday, June 26, 2007

Bethesda’s The Veneto Project

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The Woodmont Triangle area of Bethesda has been a particularly active corner of the DC region of late. In March 2006, developer Gus Pappas submitted to the Montgomery County Department of Park & Planning plans for The Veneto, to be located at 4901 Cordell Avenue, at the southwestern intersection of Cordell and Norfolk Avenues (the former location of Gallery Neptune). The project, which will curve around and front both Cordell and Norfolk Avenues, is planned to be an eight-story building with two below-ground parking levels (45 spaces), with 4,575 sf of retail and 33,824 sf of total residential space, containing 13 dwelling units. Well, that was over a year ago, and so far things are … status quo, it seems – the project application signs are still on the windows, but no movement has been seen or documented recently with the County. Looking ahead, though, it is easy to see the few blocks south of Norfolk Avenue being busy with construction cranes, with this project, The Monty at 4915-4917 Fairmont and 4914-4918 St. Elmo, and the Bethesda Maryland construction project4900 Fairmont residential project, among others, all hitting their stride around the same time. As we learn more of The Veneto’s fate, we will pass details along. 

Bethesda Maryland commercial real estate news

Sunday, June 17, 2007

New Name, New Town Center for Rhode Island Metro

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As first reported in dcmud back in March when it won zoning approval, big plans are in the works for the area immediately surrounding the Rhode Island Metro station in Northeast DC, with the then-named Brentwood Town Center by developer Rhode Island Avenue Metro, LLC (the combination of Mid-City Urban LLC and A&R Development) looking to emulate the successful Bethesda Row and Shirlington mini-village concept with a “main street” and town-house style buildings. But while the plans remain, the name has now changed. The $96 million Rhode Island Station project, as it is now known, will contain a total of 370,000 sf and will include 274 rental apartments and 70,000 sf retail space that will spread along Rhode Island Avenue NE and surround the entrance to the metro station. The complex will feature a number of small buildings as opposed to two or three larger structures, allowing for color and architectural diversity. In addition, the town center will include two parking garages with over 400 parking spaces for retail and residential uses as well as parking for metro customers. The developers expect to have letters of intent from national businesses for 50 percent of the retail space by the end of this summer. The land for this project is owned by the Washington Metropolitan Area Transit Authority, but is being rented to the developer under a 60-year ground lease. The project is set to break ground in early 2008.

"Contested" 5220 Wisconsin Project Wins Zoning Approval

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Last week, the DC Zoning Commission granted its initial approval to DC-based developer Akridge’s proposed mixed-use development for 5220 Wisconsin Avenue NW, over objections by the local Advisory Neighborhood Commission regarding the project. Akridge hopes to build its $30 million Friendship Heights condominium complex just south of the metro station between Harrison and Jenifer Streets NW, now home to a flower store and a used-car lot and auto body shop. The planned building would house up to 70 condo units (seven percent reserved for affordable housing), and offer 13,200 square feet of street-level retail, plus two levels of underground parking.

In unanimously approving this project, the Zoning Commission reject opponents’ claims that the 79-foot building would tower over the neighborhood, and instead saw it as a natural continuation of the larger-scale development just to the north. A final vote on this project has yet to be scheduled.

Condo units at 5220 Wisconsin (one and two bedroom) are expected to be between 1,100-1,300 sf, with an average price of $800,000. The structure would include a five-story traditional-style brick section facing Wisconsin Avenue to help mesh it in with the existing streetscape, with an additional two stories of glass set back from the street. The southern part of the structure will taper down to three stories on the southwestern side. There will also be an open courtyard at the center of the building, which is planned to be LEED Certified (Leadership in Energy and Environmental Design), with "green" features such as a roof that stores and filters storm water and the recycling and reuse of 50% of all construction materials waste. In addition to this building, Akridge plans to upgrade the existing yet foreboding PEPCO substation to the south of this site by restoring its façade, fixing the sidewalks around it, and adding windows for artwork displays. The developer hopes to start construction on this project later this year.

Friday, June 08, 2007

Old New York Avenue Hecht’s Building To Become New Mixed-Use Development?

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Readers of dcmud know of our particular fascination with all the new development slated for what we call The Devil’s Bowling Alley – that stretch of New York Avenue NE starting from N. Capitol Street going to the Maryland border long known for its auto lots, warehouses, and houses of "entertainment" of mixed repute. But the march of redevelopment continues its move eastward, first with MRP Realty’s mixed-use Washington Gateway project at the intersection of New York and Florida Avenues NE, and Abdo’s massive $1.1 billion Arbor Place complex planned for where New York Avenue, Bladensburg Road, and Montana Avenue NE meet. And now, it looks like the old Hecht’s distribution warehouse, located between these two projects on 16 acres at 1401 New York Avenue NE, will be the next to go under the knife. Pennsylvania-based Patriot Equities is now under contract to purchase the750,000-sf warehouse from Macy’s, and the company plans to develop a mixed-use complex on the site, with retail, office space, and residential units. As the property is currently zoned for industrial use, Patriot will need to have the zoning changed, as well as deal with the building’s landmark status. We will be sure to update you as plans are further developed and released.

Previously: Exclusive: Washington Gateway Project Images, Details
Previously: DC Zoning Approves Abdo’s Newly Named "Arbor Place" New York Avenue Project
 

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