Tuesday, June 03, 2008
Columbia Pike: A Streetcar Named Desire
Labels: Arlington, Baileys Crossroads, Carbon Thompson, Columbia Pike, DSF Advisors, Fairfield Residential, WDG Architecture, Woodfield Investments
"It's an initiative that’s been in works for quite some time, it's been approved and we are in the evolution and implementation of that right now. There is a desire to try to improve both the streetscape and transportation systems (see now the tie-in to Tennessee Williams?). We recognized that with revitalization and increased density there will be more people using the transportation systems," said Pamela Holcomb, Managing Director of the Columbia Pike Revitalization Organization (CPRO), an organization formed in 1986 to resuscitate the ailing thoroughfare.
The "modified streetcar alternative" that was selected as the most appropriate model and that will now go forward is a tram-like trolley. Because Columbia Pike is so narrow, the trolley would run on either side of the street with inlaid rails that allow cars to coexist with the tracks. "This is not seen as a cutesy idea the way some places have done it. It is not for tourists, these modern light rails are intended for efficiency. This will attract businesses," Holcomb said.
It seems those working on the project imagine a more European-style tram reminiscent of Rome and Amsterdam, despite the slow speeds of those systems, that will run with traffic on either side of the street, a unique solution, at least in the DC area, to transportation challenges. Construction on the trolley is slated to begin in 2010 with delivery in 2014.
The trolley will arrive none too soon for developers tasked with integrating a new community with little sense of commonality and that, for its new found density, will stretch over three miles from end to end, but extend no more than one block deep in most places.
Tim Jasper, Project Manager for Columbia Village, said he has seen the benefits of streetcars and thinks the trolley will benefit the developments.
"I pushed for the Scottsdale trolley project too. I think the fact that we are not really on a Metro line here in Columbia Pike makes transportation a little more difficult, there are tons of buses. I think it would be a way cool idea; its kind of a different angle," said Jasper.
The Columbia Village project at Columbia Pike at S. Greenbrier, which developer Fairfield Residential LLC is working to re-name, will bring another mixed-use project to the strip. The site is the only one in Columbia Pike that allows heights over six stories and will, therefore climb to 10 stories (if you got it, flaunt it). The project will include over 234 residential units and approximately 7,500 s.f. of retail space with three levels of below-grade parking.
But other projects are also in the queue. "We are excited about the number of projects on line at Columbia Pike; it will really turn it into a destination (there's the buzzword) for people looking for apartments and retail in the area and make it a much more exciting place," said Margaret Smith Ford, Partner at Woodfield Investments', which is now building the Siena Park project at 2301 Columbia Pike. Designed by WDG Architects, Siena Park will eventually offer up 188 rental apartments, 32,000 s.f. of "neighborhood-serving" retail and restaurants, and 14,000 s.f. of office space. The $88 million project - replacing the old Safeway on the site - will also include three levels of underground parking.
By the time the trolley is finsihed, the Carbon Thompson and B.M. Smith Associates' Penrose Square will be completed as a mixed-use development and a stop on the trolley line. The developers have also donated a parcel of land in front of the development for a new town square for Columbia Pike; Arlington County is charged with its design.
Behind the green space will be a 57,000 Giant supermarket with 325 residential units above it that will be completed in 2011. Penrose Square will offer structured parking (325 retail and 400 residential spaces) and 40,000 s.f. of other retail space; vendors have not been chosen.
Andrew Gutowski, Senior Vice President of Carbon Thompson and Penrose Square project manager said the company strongly supports the trolley. "I've lived in Europe and have seen trolleys and trams and how they can help the community," he said.
He added that the trolley line and grocery store would have a mutual symbiotic relationship, the trolley bringing the store customers, and the store giving residents another reason to use the new form of transportation.
While the exact trolley brand has not been selected, Holcomb said the primary purpose is to more efficiently move people down the pike. Fear not, bus lovers, public buses will still be used during rush hour. As construction continues along the pike, the trolley team is in the process of environmental planning and engineering studies.
Also in the area is DSF Advisor's Halstead at Arlington, a 269-unit residential project with over 40,000 s.f. of retail and 450 spaces in an underground parking garage in the Southwest corner of Columbia Pike and South Walter Reed Drive. An example of a neighborhood-rebuilding project, the development will restore the facade of the Arlington Hardware building and will build a new location for the Arlington Free Clinic.
Fire Sale of Land in SW
The Office of the Deputy Mayor for Planning and Economic Development issued a Solicitation for Offers yesterday for the development of two District-owned parcels in Southwest. The forgotten quadrant of DC to some (not us), Southwest is just starting to get attention thanks to the development of “Southwest Waterfront” by PN Hoffman. The District seeks “highly-qualified development team with the financial capacity to complete this complex project” and prefers to hire one developer for both sites.
The first parcel, Lot 28 on the western side of Square 494, is 34,000 s.f. and bounded by 6th, School, and E Streets. It is currently the antiquated home of a two-story fire station used by Fire Engine Company 13. The fire station will pose a challenge for developers as a new fire station must be included in proposals, but will save taxpayers the cost of constructing a new station or renovating the old one.
“We can’t have the station go out of service, the developer should come back to us with a plan of how to keep the station open the whole time and build a new one, either on one of the two sites or adjacent to the property if they own land in the area,” said Sean Madigan, Press Officer for the Deputy Mayor.
The city says there is no time like the present to move Company 13 to a newer facility while simultaneously bringing another development to the neighborhood. SW firemen wont be the only civil servants enjoying new digs.
The eastern side of the lot, which is about 40,000 s.f. and the home of the Metropolitan Police Department’s First District Headquarters, is planned for DC’s new 240,000 s.f. Consolidated Forensic Laboratory. According to project manager Senthil Sankaran, MPD will eventually move to another SW location to make room for the laboratory on the vacated site.
The presence of a fire station and forensic laboratory does make the site a little loud (and grim) for a residential project, but the city will consider all offers as long as they include a fire station. Madigan said an office use is most likely, but a hotel or apartment building could be possible if built correctly and with (a lot of) insulation. But if the Ritz Carlton can be next to a fire station in the West End, why not here too?
Community leaders would like to see a community center incorporated in the proposals and the District is requiring that developers designate that at least 35 percent of any contracts go to certified local, small, or disadvantaged businesses and give at least half of the jobs to DC residents.
“Particularly this section of office space is a great opportunity to do some infill work. This project alone won’t transform this office quarter, but a project like this could go a long way to make this a more lively area just south of the mall and could help connect the area to the waterfront activity that is coming. There is no reason not to do this now,” Madigan said.
The second site, Square 495 or Lot 102, stands empty and is used as a parking lot by a local school during the week and a church on the weekend. Smaller than its adjacent site at 19,187 s.f., it is bounded by 4th Street, E Street, and the Southwest/Southeast Freeway. (The building on the left is a privately-owned office building.)
Proposals are due on August 15, 2008, but a pre-offer conference will be held later this month.
Sunday, June 01, 2008
Andrews Air Force Base BRACing for Growth
Labels: Andrews Air Force Base, BRAC, Prince George's County
Andrews Air Force Base is part of the 2005 national BRAC (Base Closure and Realignment Commission) process that was used by the Department of Defense to streamline operations and reorganize bases to increase operational readiness, taking the strategic decisions out of the hands of provincial legislators. The BRAC program handed a net increase of personnel to Andrews, and the county is making plans to benefit from that increase.
At Andrews, BRAC will create 800 new military positions that will be in place by January of 2011. According to James Estepp, Director of Operations, Greater Prince George's Business Roundtable and the Andrews Business & Community Alliance, the realignment will lead to a net increase of 3,000 military and civilian assigned jobs. ABCA is a group of members of the surrounding business, community-service, and faith-based organizations who work to support "the mission at Andrews Air Force Base while fostering successful economic and community relations."
ABCA plans for a development to surround the base as the increase in personnel begins, including over 5 million s.f. of office space, 2 million s.f. of retail, and over 15,000 residential units to accommodate the population increase caused by the new employees, their families, and the additional businesses drawn to the area. The base proper is 5,000 acres, the land around it is owned by multiple individuals and corporations, a coordinated development effort of all the land is not yet assured.
“Our original idea was a vision and we are working on increasing our membership (in the alliance) to make that vision happen. There will be multiple developers in play because of the land, where it is, and how it is owned. We are talking about 5,000 acres. We are certainly drumming up support,” Estepp said.
He added that there would not be any major steps forward within the year because of the BRAC time frame. “BRAC isn’t law until 2011, so federal, state and local politicians will not be under pressure to move until closer to the deadline.”
Maryland Gov. Martin O’Malley has authorized the creation of state “BRAC zones” for which areas in Maryland can apply to get matching state funds for infrastructure work around military bases. According to Estepp, this benefits the Alliance's plans as it provides incentives to the county for infrastructure for businesses moving near the base. The municipality would apply for such a zone.
Andrews is bound by Route 4, Branch Avenue, Old Alexandria Ferry Road and Allentown Road. Part of the Alliance’s plan involves extending Metro’s Green Line to the base.
Both Anne Arundel and Montgomery Counties are involved in the BRAC processes, moving jobs to Fort Meade and the National Naval Medical Center in Bethesda.
Friday, May 30, 2008
Construction at Capitol Quarter Begins
With a financing package that settled today, construction of the 33-acre Capitol Quarter in Southeast is now set to begin. Spurred by a Hope VI grant from HUD in 2001 that has been leveraged from $34.9 million to $700 million, the DC Housing Authority is partnering with Forest City Enterprises, Mid-City Urban, and EYA Associates, Inc. to create Capitol Quarter on the site of the now-demolished 707-unit Arthur Capper and Carrollsburg Dwellings public housing projects in Near Southeast. DCHA closed today on the first of three phases; construction will now begin on a 158 townhouse segment that will deliver at the end of 2009.
Until this point, construction was being done on the infrastructure of the area as part of an agreement with the District government to install new underground utilities, sanitary and water lines, and a new storm management system. These improvements were financed by a $36.7 million bond approved by the District Council and backed by new real estate taxes generated from new developments.
A mixture of affordable and market-rate rental and for-sale townhouses, the site, located officially at 1023 4th Street, SE, will include 395 public housing units, 162 rental units for seniors, 139 rental units for workforce housing, 410 affordable rental units, 42 voucher for-sale units, 171 for-sale workforce units, and 144 market-rate units when the project reaches completion in 2013. Located near the Navy Yard, the development will also offer 702,00 s.f. of office space, 51,000 s.f. of retail space, and an 18,000 s.f. LEED-certified community center.
“The retail will be neighborhood serving but will also serve the office portion because this will be a large residential community, but it is also right on the Navy Yard, and that huge office complex is right there. It is also caddy-corner to the stadium,” said Dena Michaelson, Director of Public Affairs for DCHA.
The 33-acre site is within walking distance of the Navy Yard Metro, and was vacated in phases starting in 2001. The project was fully demolished in 2006, and has since completed the senior independent-living building. The second phase, which will include another 158 townhouses, will deliver between 2011 and 2012. The third and final phase will deliver 52 townhouses between 2012 and 2013. The townhouses, handled mainly by EYA were designed by Lessard Group.
Thursday, May 29, 2008
Bethesda Condo Gets the Go-Ahead
Labels: CORE Architects, Polinger Shannon and Luchs, Triumph Development, Woodmont Triangle
The Woodmont Triangle project will now include only 61 condominium units, 8 of which will be affordable, 2,000 s.f. for four art studios, and a 3,277 s.f. outdoor public plaza. Now nine stories, the building will replace two small office buildings on the north side of Rugby Avenue at the intersection of Auburn and Rugby Avenues, and will include two and a half levels of underground parking.
"Obviously we are in the Bethesda Central Business District – which is a dynamic market in and of itself," said Elliot Schnitzer, a manager at Polinger. "Walter Reed is relocating to Bethesda Naval. Our site is between the Medical Center and Bethesda Metro stops and in walking distance to Bethesda Naval," he said.
Schnitzer also told DCMud that the developers will now work with Guy Martin of CORE Architects on construction drawings. When asked about the likelihood of joining the go-rental trend, Schnitzer said the company was standing by their condo plans. As DCMud reported last week, Triumph Development canceled its plans for 4901 Hampden Lane in the center of the Bethesda shopping district just last week, citing the approval process and market factors.
“People who have changed to rental have already broken ground. We hope to time it to hopefully hit the market on the rebound,” he said. A construction schedule has not been set, though the project will certainly beat out its neighbor - 4823 Rugby Ave. - which has submitted plans for a 24-unit building but remains in the 'concept' phase.
The Duke Begins Sales in Old Town
The project replaces the Fannon Oil site, which has been largely been vacant recently. Unlike the innovative, urban-chic styles developers strive for in emerging D.C. neighborhoods, the developers had to follow specific architectural guidelines to make the project fit into the Historic District.
“The Old Town Architecture Review Committee is very picky, so a lot of the decisions of what to build were governed by the historic nature of the area. The townhomes that you will see from the street are all brick, so they blend in. Every detail was combed over to make sure the project fit in with the historic nature of the area,” said Jane Herrmann, Sales Manager for the project.
Located on the 1300 block of Duke Street on the edge of the Historic District of Old Town Alexandria, the project is two blocks from the King Street Metro and the main strip of shops and restaurants. The project will join Cromley Lofts and the Jamieson, both new residences selling near the King Street metro station.
Alexandria Virginia real estate development news
Tuesday, May 27, 2008
Hill East: Douglas Takes Down the Colonel
Labels: Douglas Development, GTM Architects, Hill East
Brookland/CUA Metro Station
Labels: Brookland, Catholic University, Douglas Development
While a final group of developers for has not yet been determined, Catholic University will be involved in the process, and WMATA will select a developer for the land included in their metro station. There is also speculation that Douglas Development will be involved. CUA, WMATA, and Douglas Development are the primary land owners and the organizations that worked with the city on the Small Area Plan.
Plans at this point remain in flux, but the OP is releasing first drafts of what the public can expect. “Our next step is the final draft. We have an outline based on community input, developers can follow it, but they don’t have to. They can develop the land by right based on zoning or submit a PUD,” said Deborah Crain, Ward 5 Planner.
According to the Executive Summary recently released, “The overall concept for the Brookland/ CUA Metro Station Area Plan proposes a neighborhood civic core and arts infrastructure surrounded by transit-oriented mixed-use development at the Metro Station, along Monroe Street, in areas along the railroad tracks north and south of the Metro Station, along a strengthened and revitalized 12th Street, Brookland’s historic Main Street.”
The plans break the area into five subdivided zones, each with its own development agenda. Below are the five areas being developed:
The Metro Station: The plan envisions a transit-oriented mixed-use development at the metro station, with 200 to 250 residential units, 30-35,000 s.f. of retail or residential space, over 200 below-grade parking spaces, and six-story buildings. This area, which is about 4-acres, will include the extension of Otis, Newton, and 9th Streets, a Kiss and Ride with short-term parking along 9th and Newton Streets, and single family residential space along 10th Street. Metro station entries would be relocated along Newton Street and public spaces for community gatherings and farmers’ markets would also be included.
Monroe Street would be featured as a “tree-lined urban street with retail, residential, and cultural uses connecting Brookland from east to west.” There would be over 700 residential units, over 80,000 s.f. of retail, restaurant, and cultural space, 650-850 below-grade parking spaces, and green space at the historic Brooks Mansion. CUA recently selected Abdo Development to develop their 9-acre South Campus on either side of Monroe Street between Michigan Avenue and the Metro. According to Toby Millman at Abdo, they are starting the PUD process.
12th Street would be revitalized as a Historic Main Street with retail, residential, and office space, and improved connectivity to the metro station along Monroe and Newton Streets. There would also be infill opportunities between Monroe and Randolph Streets, and South of Monroe Street.
The Commercial Area North of the Metro Station was outlined as a new residential and office area including 400-500 residential units in the form of condominiums, apartments, and townhouses. Neighbors would like to see 20,000 s.f. of office space and over 200 below-grade parking spaces.
The Commercial Area South of the Metro Station would include 150-200 residential units mixed with cultural uses and only 75-100 below-grade parking spaces. The Metropolitan Branch Trail would be integrated along 8th Street.
Friday, May 23, 2008
Georgia Ave. Development Takes Hold! (Sort of)
Labels: Domus Realty, Donatelli, EDG Architects, Frank Schlesinger, Georgia Avenue, jair lynch, Torti Gallas
Park Place - Donatelli Development's mixed-use project above the Petworth Metro station, has topped out, reaching its full height at seven stories. Donatelli, along with partners Gragg & Associates, Canyon Capital Realty Advisors and Earvin 'Magic' Johnson, was awarded development rights to the lot through a competitive process in 2004. 20% of the condos are mandated as "affordable." Like Highland Park apartments and Kenyon Square condos, Donatelli's projects that redefined the center of Columbia Heights, the condos were designed by Torti Gallas & Partners of Silver Spring, with sales by Washington DC-based Domus Realty. Construction is expected to complete early next year. Okay, so the topping out isn't a major news event, but at least construction hasn't stopped.
3912 Georgia Avenue - The mayor announced yesterday that a court had given clear title to the District, which will transfer the property to the Jair Lynch Development Partners. If the property sounds familiar, it may be due to frequent mention by this blog. The 130-unit apartment building, two blocks north of the Metro station, was awarded to JLC and development partner AHD Inc. (Affordable Housing Developer) by the National Capitol Revitalization Corporation (NCRC), before that organization was disbanded by the current administration. The $38 million project is being designed by EDG Architects and Frank Schlesinger Associates and will be built by Meridian Construction. Jair Lynch will provide 40% of the rental units at subsidized rates, and add 24,000 s.f. of retail space. NCRC gave Jair Lynch the land back in 2006, but it turns out that the city did not have clear title to the land.
Despite the Mayor's announcement, other issues remain, and the developer is not giving any timelines on construction yet. According to Tania Jackson of JL, clearing title was "a huge hurdle, but there are so many things that still need to happen." For one, because Mandatory Inclusionary Zoning (MIZ) - which JL supported - has not been enacted, JL must go through a 'mini-PUD' to get the density they require. The developer hopes to get the PUD done by June. (In better news for JL, they did just open sales at the Solea in Columbia Heights)
Finally, the District has just announced that it has acquired a long-vacant residential building at 6425 14th St. NW, just off Georgia Avenue. The building was referred to the Department of Consumer and Regulatory Affairs' special unit, the (somewhat Stalinist-sounding) Board for the Condemnation of Insanitary Buildings. The Tewkesbury, a 26-unit building in Brightwood, will be offered to developers for renovation, but no timelines are being offered at this time.
Thursday, May 22, 2008
Todd Place Condos
SPONSORED ANNOUNCEMENT
Todd Place - new condominium homes from $236,000 near the Rhode Island Avenue Metro. Todd Place is the total renovation of 3 separate apartment buildings, 302-310 Todd Place, into 12 condos, each with two bedrooms, deep walk in closets in each bedroom, vaulted ceilings, and beautifully finished interiors.
Located in the Eckington neighborhood of DC, within walking distance of the Rhode Island Ave Metro station and NoMa Metro stations, in DC's booming NoMa area, the fastest growing commercial real estate sector in the District. Off-street parking available for each unit. Interior finishes include solid bamboo floors, generously sized granite counters in the kitchen and bath, skylights on the upper floors, ceiling fans, walk-in closets in both bedrooms, and private security systems. Developed by Lindsay Development & Hillsborough Investments. Newly reduced prices range from $236,000 to $265,000. Marketing and sales by DCRE.
Washington DC retail and real estate news
Wednesday, May 21, 2008
MBT Bike Trail Construction to Resume
Labels: CSX, Eckington, Metropolitan Branch Trail, NoMa, Washington Area Bicyclists Association
The MBT began as a concept in the early '90's, several segments have already been built. When completed, the MBT and its contributing paths are envisioned to run from the Mall to Silver Spring, northwest into Bethesda, where it will connect to the already completed Capital Crescent Trail. The MBT portion will later add a spur from the Ft. Totten Metro to West Hyattsville. The section of the trail announced today will connect the recently completed New York Avenue Metro station on NoMa's north end, running over Florida Avenue, under New York Avenue, and over Rhode Island Avenue at the Metro station, where the trail will take the form of roadside bike lanes until it reaches the Brookland-Catholic University Metro.
Officials involved with the project project that design work will begin immediately, with construction to start hopefully by year end. With this latest acquisition, the MBT still has numerous issues to work through at the Ft. Totten Metro station, including a land acquisition from WMATA.
Eric Gilliland, Executive Director of Washington Area Bicyclists Association, which has worked with the District in support of the trail, extolled the virtues for both bikers and Metro riders, projecting that the newest leg will increase access to the New York Avenue Metro - a station that is currently cut off by Florida and New York Avenues, an interchange Gilliland called "really terrible for pedestrians." Gilliland predicted that connecting remaining pieces within the District would take and additional two and a half to three years, but that the Silver Spring to Bethesda section was waiting on plans for the Purple Line.
DDOT will be in charge of construction. To date most of the costs have been paid for with federal dollars, though the project will undoubtedly be a boon for a few neighborhoods like Eckington that will be suddenly be connected along the the railroad tracks that once condemned them to relative isolation.
Tuesday, May 20, 2008
Bethesda Condos Nixed by Developer
Labels: Bethesda, Shalom Baranes Architects, Triumph Development
The project profile read, "while the residential real estate market as a whole is a bit challenging right now, we are still extremely excited about this project . . . the design and the location are that good." Apparently not quite.
But an email today from Triumph's Development Director, Michael O'Connor, to those who had expressed interest in the real estate project read, "Triumph has made the decision not to pursue our condominium project at Hampden Lane and Woodmont Avenue in Bethesda. The four-plus years that Montgomery County approvals have taken combined with the slumping residential real estate market have finally taken their toll."
Totalling about 95,000 s.f. of development, the project was to offer units ranging in size from one to four bedrooms, and was designed by Shalom Baranes Associates. Situated ideally between Woodmont Row and the Bethesda Metro, Hampden Lane had been recognized by the Washington Smart Growth Alliance.
Greyhound Bus Pulling Out of NoMa
“The property is on the market, Greyhound is interested in selling and consolidating to Union Station,” said Elizabeth Price, President of the NoMa BID. “I think it’s a great thing, it makes sense to leverage a great public transportation hub like Union Station and make it truly multi-modal. It also opens prime site on First Street for development that’s more consist with what is coming to the neighborhood.” The site takes up most of the block that borders L Street, and which is bisected by the railroad lines.
Price said sale of the property was “bound to happen.” She said other community leaders and developers would be pleased to have the site move towards re-development and join the surrounding flurry of retail, residential and mixed-use construction projects.
Greyhound, however, maintains that we should not get our hopes up. Spokesman Eric Wesley wouldn’t give a timeline or any details about how it would merge into Union Station, and maintained that nothing has been finalized.
“There have been no final agreements. We are still in talks with Union Station, but we don’t want to say that’s what we will do. We’ve had talks for 20 years. It’s hard to say which way the talks will go. There is no timeline,” Wesley said. Greyhound is currently the largest inter-city bus service in the country.
Friday, May 16, 2008
Bowen YMCA Update
Labels: 14th Street, Dorsky Hodgson and Partners, Helmuth Obata and Kassabaum (HOK), Perseus Realty LLC, U Street
According to Perseus, legislation was passed to close part of the alley between the townhouses and the existing YMCA, and Perseus has already received HPRB approval. The facades of the townhouses and the front forty feet of each structure will be preserved as historic structures.
“We are filing for certain permits, which takes a while and we are in the final stages of working drawings, so we’re positioning it to get started,” said Robert Cohen, President of Perseus Realty, LLC.
The project was designed by Hellmuth, Obata, & Kassabaum and Dorsky Hodgson & Partners, the developers have also hired Bozzuto to oversee leasing and management of the residential component.
NoMa East: Progress Waits
Labels: Burnham Place, Douglas Development, Greenbaum Rose, NoMa, Union Place, Wilkes
According to Sandy Wilkes, Chairman of the Wilkes Company, "We are still in a planning phase and we're trying to understand exactly what the opportunity is in that place and what zoning strategies we might deploy to bring this about. It is still early for us, our general instinct is that there is going to be a natural tendency for NoMa to develop more actively on west side. We have the luxury of being patient on the east side, but our sense is that while Constitution Square and other projects are underway, the real time for us is in a two to three year time frame. We are constantly thinking about fine-tuning and timing. We are going to let our friends and colleagues on the west side lead the way and then get way more focused in 24 -36 months." Also facing each other, at least someday, at 3rd and K Streets, NE, will be Greenbaum and Rose's Capitol Cab property and Cohen Companies' Union Place, planned as part of the NoMa development surge. And while the G 'N R site sits indefinitely, Union Place at least is forging ahead.
The Loree Grand will include 212 apartments in a ten-story building, some of which will be workforce housing; eleven percent will be "affordable." In addition to the residential components, this phase will include an interior public courtyard, 4,000 s.f. of retail space, one underground parking space per resident, and a “green” roof.
The residential floor plans of the first phase will range from junior one-bedroom units starting at 516 s.f. to 1,400-s.f. apartments with two bedroom and a den. Phase two will rise 14 stories and deliver over 400 residential units, though the inevitable rental vs. condo debate has not yet been settled. Developers are already planning to install wide sidewalks to create a "boulevard effect." Meanwhile, Greenebaum and Rose is waiting on a sunnier economy. For Greenebaum and Rose, instead of the traditional “go rental” approach to the less-than-stellar market, the developers' project on the former Capitol Cab property is on hold. The developers bought the land at market price in 2003 after winning a legal battle over a competing developer that sought to buy the cab company’s debt, pay $50,000 for the land, and have the right to foreclose on the cab company’s owners’ homes.Greenebaum and Rose’s current plan will cost over $20 million and include a six story, 92,800-s.f. residential building designed by Davis Carter Scott. It will have 112 condominium units and underground parking. Someday. “Nothing has been built,” said Greenebaum and Rose partner, Sam Rose. “For now, it’s a piece of land with a permit. We’re not starting until the world looks prettier.”
Noma BID Director Price said their property will only become more valuable as the neighborhood continues to evolve. “Long standing parcels are going up in market value; Greyhound announced that they would sell, and that was one of last pieces of puzzle, whether Greenebaum and Rose would sell, I don’t know. They’ve been around longer than anybody and we owe a lot to them to committing to building First Street. The developers’ options are wide open," she said.
Square 54 Breaks Ground
Labels: Boston Properties, Foggy Bottom, George Washington University, Jack Evans, Pelli Clarke Pelli Architects, Sasaki and Associates, Smart Growth Alliance