Adams Morgan Fixer-Upper Gets Fixed-Up

The Kalorama / Adams Morgan neighborhood will soon have one less dilapidated tinderbox for neighbors to revile. Located at 2110 19^th Street, NW, the three-story apartment building at the site has gone from bad to worse over the past half-decade. Luckily for area preservationist aficionados, however, renovation (if you can call throwing out everything except the facade a renovation) is currently underway and, once completed, this real estate ugly duckling will emerge a swan - courtesy of DC apartment developer and management company Keener Squire Properties and the architects of Eric Colbert and Associates.

Originally known as the The Hilltop, residents of the then 15-unit tenement - described by The Washington Post at the time as a "badly deteriorated building" - were bought out of their leases in 2005. Another District development company, Nicol Development, then tried their hand at culling 22 condominiums out of the building shortly thereafter and summarily failed, leaving nothing but a condemned husk of a building in what was (ironically enough) one of the District’s more desirable neighborhoods. But then 2007 happened, and Nicol lost control of four local projects, this one to the lender. The property had been informally floated above $5 million by Nicol, then more formally listed at $3.8 million but still no takers. Cut to the summer of 2008, when Keener Squire was able to pick it up at the “fixer-upper” special rate of $2.1 million.

“My client bought it at auction,” said architect Eric Colbert. “Someone had tried to develop it a while back, but they didn’t know what they were doing and wound up abandoning the project…It must have been at least five or six years [since people lived there.]”

That's about to change. Keener-Squire is currently projecting a 12-month timetable for a complete renovation of the once-roughshod apartment complex. The building’s original 25,000 square foot shell will receive an extra 5,000 feet during the course of the build-out, allowing for a total of 35 new residential units and two new floors. Keener-Squire’s in-house general contractor, Wayne Construction, is overseeing work at the site. Sources say the building is being designed as rental apartments, but, as always, market forces will ultimately dictate the final outcome.

Donohoe Galvanizes Bethesda Development in the Woodmont Triangle

The Donohoe Development Company is in the early design and planning stages on what looks to be the largest mixed-use project to hit Bethesda since Bethesda Row went and upped the area’s chi-chi quotient a few basis points (see this month’s issue of Forbes for proof). Now, on the other side of town, in the decidedly less dapper (but getting there) Woodmont Triangle area, Donohoe has teamed with WDG Architecture to realize Woodmont Central: a multi-phase, mixed-use project that will bring office space, retail and, yes, apartments to Wisconsin Avenue and beyond.

Within the next few years, Phase 1A, as Donohoe is calling it, will be the 8280 Wisconsin - a commercial complex with 80,792 square feet of Class A office space, along with 10,820 square feet of ground floor retail, at the corner of Battery Lane and Wisconsin Avenue. At present, it's the site of a Texaco that boasts the area’s only car wash. Unfortunately for area auto buffs, both will be razed prior to build out. It will, however, be the first sign of new development at the very same intersection that had previously been slated to host the now indefinitely on hold Trillium Condominiums.

In a first for Woodmont Triangle development, Donohoe's office building will be followed by Phases1B and 2 - but not at the same site. It’s a split that will allow the development team to benefit from a recent amendment to Bethesda zoning statutes. Said Jad Donohoe, Donohoe's Development Director:

[The parcels] are three blocks apart, but in the same project…Back in 2006 there was an amendment to the Bethesda Sector Plan for the Woodmont Triangle. For the first time it allowed this transfer of density between sites that aren’t contiguous or are even across the street from each other…It’s a new idea and the thought was that because there is such fragmented ownership in that section of Bethesda, this would be a way to bring the density needed to make more of a Bethesda Row-type of experience. If you look at what Federal Realty Trust did on Bethesda Row, those things have been happening on that side of Bethesda for 10 years. By contrast, Woodmont Triangle has been kind of struggling. This is the solution and it’s one of the first projects to take advantage of that provision.

And take advantage they shall. Currently the home to a surface parking lot and "some old two-story buildings", the corner of Rugby and Del Ray Avenues will eventually host The Gallery at Bethesda - a high-rise with 457 rental apartments (including 51 MPDUs), 9,051 square feet of ground floor retail and public park that Donohoe describes as being comparable in size and scope to the nearby Veteran’s Park. "It’s really going to be one of the few green spots there in the Woodmont Triangle for public space,” said Donohoe.

Though still “a couple years away from breaking ground,” Donohoe speculates that "The Gallery will be home to approximately 900 new Bethesdans, with occupancy beginning in 2013. 8280 Wisconsin will deliver in late 2012." The team's first project plan was filed with the Montgomery County Planning Board in January and they're currently scheduled to make a second appearance before the Board on April 23^rd. Bethesda real estate is for sale.

Argent Resurrects Condos in Silver Spring

A lot can change in two years. But since beginning construction in 2007 at 1200 Blair Mill Road in Silver Spring, Perseus Realty, LLC’s plan for the building nearing completion at the site, The Argent, seems to be much the same as it was pre-economic doldrums. Representatives of the developer have told DCmud that the project will “definitively be condos” – a first (and perhaps last) for metro area development in 2009.

The $37 million, JSA Inc.-designed building will boast 96 units - ranging from 600 square foot efficiencies to 1,430 square foot two-bedrooms – on nine stories. Part and parcel with the Argent’s "urban oasis" atmosphere are amenities including art deco flourishes, nine-foot ceilings, an “elegant rooftop patio,” a front desk receptionist and a 4,200 square foot public park on the grounds, featuring landscaping by Mahan Rykiel Associates and a sculpture from local artist Mary Ann E. Mears.

“We’re planning to open with decorated models by the end of May. There’s not a certain date, but that’s what we’re shooting for,” said Barbara Causey of the Mayhood Company.

The Argent and its development team are apparently not brushing off the state of the market entirely; initially priced in the $400,000s before construction, Causey says that Perseus is currently reevaluating their asking price for a piece of the development, and "expects [final prices] in three to four weeks."

In the meantime, Clark Construction is working diligently at the site in order to have the building up and running in time for what is sure to be a (not so) brisk summer sales season.

Silver Spring real estate development news

Logan Circle Wardmans Revamped for Affordable Housing

With $8 million worth of renovations now largely complete, the R Street Apartments have gone a long way in proving that green building practices and affordable housing are not mutually exclusive. Purchased by tenants in 2007 through the Tenant Opportunity Act, the new owners’ first order of business was to form a partnership with the National Housing Trust-Enterprise Preservation Corporation (NHT) and the Hampstead Development Group (HDG) - one that would ensure the restoration, revitalization and environmentally sound character of their five historic buildings at 1416, 1428, 1432, 1436, 1440 R Street, NW in the District's Logan Circle neighborhood.

After two years of renovations, the apartments will meet, if not surpass, those goals. The 241 units in the 97-year old complex were initially constructed by famed DC developer Harry Wardman with architect Albert Beers and placed on the National Register of Historic Places in 1984. According to NHT, the laundry list upgraded amenities now available at the site include “new solar reflective roofs, new kitchens and bathrooms with energy star appliances and low-flow water fixtures, rain barrels to harvest water, an upgraded security system, American Disability Act accessible units and free high speed wireless internet access,” in addition to a slew of open community space and a new, energy efficient HVAC system.

The eco-friendly overhaul at the R Street Apartments is second its main raison d'etre: affordable housing in an ever more gentrified (read: increasingly expensive) Northwest neighborhood. Under the terms of the project’s restructured rate system, only 6 of the newly minted units will be renting at market-rate with varying “tiers” of affordability below that – starting for residents making 60% area median income (AMI) all the way down to 30% and below - compared to the 30% AMI cap that had been in place prior to the renovations and ownership change. Per the terms of the Five Voices of R Street Tenant Association’s agreement with the NHT and HDG, the apartments shall remain affordable for the next forty years.

Making sure they last that long, however, didn’t come cheap for the government. Together, the two development partners raised a total of $24.5 million for the purchase and renovation of the properties via Historic Rehabilitation Tax Credits, federal Low Income Tax Credit equity, tax-exempt bonds, a Department of Housing and Community Development acquisition loan, a $50,000 Enterprise Green Communities Grant and a healthy smattering of “owner capital.” According to Michael Bodaken, President of the National Housing Trust, it was well worth the effort and expenditure.

“By 2010 more than 10,000 affordable apartments could be lost in the city as owners contemplate exiting government programs and raising rents…[The R Street Apartments] could easily have been converted to condominiums or higher priced rentals, but by maintaining their affordability, we are safeguarding the well being of the families and seniors who call R Street home,” said Bodaken in a press release announcing the project’s grand re-opening.

A ceremony highlighting the development’s new lease on life is currently scheduled for April 17th at 11 AM. Mayor Adrian Fenty, DC Housing Authority Executive Director Michael Kelly, Ward 2 Councilmember Jack Evans and members of the R Street Tenant Association and development team are all expected to be in attendance. Remarks to the public will followed by a tour of the revamped apartments and a reception.

Anacostia to Get its Own Boathouse Row

With the District-led attempt to bring development to Southeast Washington DC's Poplar Point now stalled for the foreseeable future, both the Office of the Deputy Mayor for Planning and Economic Development (ODMPED) and the Office of Planning (OP) have now turned their collective bureaucratic eye across the Anacostia River and towards a section called Boathouse Row.

In the spring of 2008, the District agencies assembled a team to consider options for the riverfront, which has now gone public with a Planning Study for the stretch of land that runs along M and Water Streets, SE on the Anacostia’s west bank. As is, the site - largely overlooked by development next door at the Capitol Riverfront - is currently home to half-a-dozen maritime operations, including a cadre of "yacht clubs," the former Anacostia Marina, and installations servicing the DC Department of Public Works, the US Army Corps of Engineers and the DC Water and Sewer Authority. Rehoboth Beach it won't be, but for the local government, redevelopment at Boathouse Row represents a shot at making the Anacostia River a recreational destination again for the first time in half a century.

The outcome of the study hinges on the proposed dredging of the polluted and endangered river – a procedure that has yet to be budgeted or approved by the DC government. As such, the team presented two concepts for the site – one contingent on a clean-up, the other not.

Concept I, which assumes dredging will in fact take place, would see the Anacostia Community Boathouse Association expand its location underneath the 11^th Street Bridge, while the other boat clubs along the riverbank will be permitted to build-out “either perpendicular or parallel to the shore.” The team envisions three open “community spaces” at intermittent points along the river with amenities like canteens and bike rental kiosks, in addition to a revitalized and expanded Anacostia Marina for motorized watercraft.

Concept II, “a response to the possibility that dredging the Anacostia River will not take place,” assumes that the river will remain impenetrable to boats of any significant size. The locations of the various yacht clubs would be reconfigured, while the Sewer Authority’s work station would be relocated off-site in order to provide for a “continuous waterfront edge.” This plan too calls for three large community spaces along the river, but improvements to the Anacostia Marina would be significantly downsized and it would be outfitted to service only non-motorized boats.

No matter which route the District takes at Boathouse Row, neither will be realized soon. According to the report, “Several District infrastructure projects will need to be completed before improvements to Boathouse Row can be implemented.” That includes renovations to the 11^th Street Bridge, completion of the Anacostia Waterfront Initiative’s Riverwalk Trail and the possible relocation of the Federal Channel. At present they’re projecting those procedures to run until at least 2014, with implementation of either concept expected to be complete by 2020.

It should also be noted that control of Boathouse Row currently sits with the National Park Service; a formal transfer of the land to District government is planned for later this year. The entire Planning Study can be read in its entirety at the ODMPED homepage. homes are for sale in washington dc.

Freelon to Design African American History Museum

The Smithsonian Institute announced today (via their insanely popular Smithsonian Channel Blog) that the Freelon Group, Adjaye Associates and Davis Brody Bond in association with SmithGroup have been selected to design the National Museum of African American History and Culture. To be constructed at 15^th Street and Constitution Avenue, NW, the 350,000 square foot museum will stand on the very last vacant parcel of the National Mall.

Since the prospective designs went public last month, the winning team has gone on to beat out a formidable list of competitors that included Diller Scofidio and Renfro and KlingStubbins;" Devrouax and Purnell Architects, Pei Cobb Freed and Partners; Moshe Safdie and Associates and Sulton Campbell Britt & Associates), Foster and Partners and URS and Moody Nolan Inc. and Antoine Predock Architect.

“[We] set up a poll on the Smithsonian Channel Blog asking readers who they think should win and although the Moody Nolan was the clear favorite, another design took home the win,” said Filippa Fenton of Smithsonian Networks. So much for democracy.

According to the Smithsonian, the selected “bronze-tiered design” (aka “the corona”) represents a “melding of cultural symbols, traditions and movements” from “the working landscapes of the American south to the crowns of Nigerian Yoruba artifacts.”

Construction of the $500 million complex is currently scheduled to begin in 2012. For a detailed look at Washington’s soon-to-be newest museum, check out the swanky virtual tour of the design, courtesy of the Smithsonian.

Dupont Apartment Building Reopens After Renovation

In keeping with its past successes buying and renovating historic but neglected apartment buildings, Urban Investment Partners (UIP) is putting the finishing touches on their $1.8 million renovation of the Absecon Apartments - now named The Shelby - in Dupont Circle. Located at 1706 T Street, NW, the Shelby is just one of the century-old rental properties in the area that's been blighted by years of mismanagement and poor upkeep. According UIP’s Steve Schwat, the condition of the building took even the seasoned real estate professionals by surprise.

"When [buildings] are fully furnished have a nice young couple living in there, they don’t look so bad. But everything in the building is at twice its expected useful life,” said Schwat. “[At T Street], we had units in the basement that were built but never permitted…It was just crazy in there - holes in the floor, holes in the walls. It was as bad as I’ve ever seen it.”

Luckily for prospective renters and the neighborhood in general, the developer - working in tandem with Bonstra Haresign | ARCHITECTS and their in-house general contractor, Urban CM – has succeeded in completely overhauling the once dilapidated building and its 24-units. Said Schwat: "The entire building was renovated, we performed selective demolition, all new electric, all new plumbing, all new separately controlled HVAC, granite counters and stainless steel appliances. It’s pretty much condo-grade finishes, but it’s a rental building."

Additionally, UIP has taken it upon itself to reincorporate original elements of the building’s façade that vanished from lack of upkeep over the intervening decades. As a contributing site to the Strivers Historic District of Dupont Circle, the development team will be outfitting the Shelby with a steel and glass version of its original awning. Other architectural flourishes, along with a new front entry door, will round out the renovation for what Schwat calls an “Ian Schrager, boutique hotel kind of feel." The Shelby is currently leasing up with occupancy set to begin on May 1^st. Open houses for potential residents are scheduled for April 17th, 18th, and 19th, 9-5 each day. For more information call 202-244-3811.

UIP is doing much the same with two other concurrent rental renovations in the District: at The Macklin at 2911 Newark Street, NW and a second at 1921 Kalorama Road, NW.

Washington DC real estate development news

Archstone Ponders More Residential for National Gateway

Of all the large-scale projects in development at the National Gateway, Archstone-Smith's "luxury residential towers" in Potomac Yard has been the least talked about - despite the 1.5 million square feet of LEED certified office space currently going up in the same neighborhood. Now the developer is seeking an "extension of time to...submit a building permit for two land bays and park concept design plan" from the Arlington County Board at their April 25^th meeting.Archstone acquired a large swath of the Meridian Group’s National Gateway project for an undisclosed sum in May 2007 with the intent of bringing 691 residential units to the site. But Archstone has yet to move soil in their 135,402 square foot parcel bounded by Jefferson Davis Highway, Potomac Avenue and Crystal Drive, nor has an architect been formally linked to what is being called the “Archstone National Gateway,” though permitting records indicate that they have taken on Tishman Speyer as a development partner. 

"We’re still in the drawing stage, but we should have something by the end of the month as far designs and proposals go," said Joshua Custer, Archstone-Smith's Marketing Coordinator. In all, planners hope for an eventual 1500 residential units with the recently opened 386-unit Camden apartments and 479-unit Eclipse condominiums, which began sales in 2005 and still have nearly 100 condos left to go. Ouch.

As for other adjoining pieces of the National Gateway pie, Camden Property Trust has already delivered there, while another nearby parcel was sold off to Marriott International for development under their Renaissance and Residence Inn brands is already well into construction.

For Meridian’s part, they are well on their way to realizing the 1.5 million square feet of office and 200,000 square feet of restaurants and retail included in Phase I of their National Gateway. That project is set to deliver this coming November.

Washington DC real estate news

Homes Near the Pros in Capitol Heights

The Redskins may (still) disappoint, but the same can’t be said of the impact that construction of their newest home at FedEx Field has had on the surrounding Prince George's County (Capitol Heights) community. The area has been awash in new retail and commercial development since the Skins came calling in 1997 and, now, a handful of developers are aiming to transform Capitol Heights into the area’s newest suburban commuter enclave.

First and foremost, the Glenwood Hills development at Central Avenue and Addison Road is currently set for a large-scale expansion, per a recent approval by the Prince George's County Planning Board. The project - the first phase of which boasted 90 single-family homes, 117 townhouses and a "central recreational pod" - was sold by the original owners, Avanti Properties Group and Upshire Realty Advisors, to Berman Enterprises in 2006. Now, the new management is planning to get underway on 63 new single-family homes and 134 duplexes in February 2010. The new homes will range in size from 1,873 to 3,596 square feet. Berman has also presented the Planning Board will a proposal for Phase III that is planned to include another 45 single-family homes, along with 144 “multifamily dwelling units.”

Closer to the DC line, the Beazer Homes Corporation is set to proceed on a single-family development. Their Brighton Place development on Rollins Avenue is planned include 68 single-family homes and 60 townhouse units, ranging in size from 2,100 to 3,000 square feet. Construction has yet to commence on home one, but the developer has priced the standalone units from the mid-$300s with the townhomes starting in the mid-$200s.

Townhouses are also the order of business for the Villages at Peppermill, a project from Structures Unlimited and Foster Communities that broke ground in 2006 on a 20-acre plot with the already established 50s-era Peppermill Village development. While the 96 homes at Central Avenue and Cindy Lane are still aiming to reach their proposed 2010 completion date, a few details have fallen by the wayside in the interceding months since the project was first announced. Namely, both a proposed community center and police substation with the development have been nixed by the developer.

That, however, hasn’t stopped Structures Unlimited President Kareem Abdus-Salaam from pushing for more development in the Capitol Heights area. Two weeks ago, he was one of the local entrepreneurs involved with Prince George’s County Executive Jack Johnson’s proposal for the land transfer from Metro to the County to make way for a new 24,000 seat DC United Stadium at the site of the current Morgan Boulevard Station. If that $195 million dollar project comes to fruition (something which the District government couldn’t pull off at Poplar Point), perhaps it will wind up finishing what FedEx Field started more than a decade ago.

Prince George's County, Maryland real estate development news

New Mixed-Use for Arlington Strip Mall

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 26^th.

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

First NoMa Hotel to Open Next Week

NoMa’s first hotel, the new Courtyard by Marriott at 1325 2^nd Street, NE, will open its doors to the public on April 15^th, according to the NoMa BID. The 8-story, 218-room project represents a number of firsts for the burgeoning development district: not only will it be the first new hotel to open along the greater North Capitol Street corridor, but it is also the District’s first majority Hispanic-owned hotel and Marriott’s first metro area entry under their revamped Courtyard brand.

The amenities that go along with Courtyard’s conceptual makeover include a lobby with separate “welcome pedestals” (instead of a traditional front desk) and a 52-inch LCD screen that provides guests with items like local weather readings and directions to nearby attractions. Dining options are supplied by a new restaurant entitled The Bistro (Tagline: Eat. Drink. Connect.) featuring free wi-fi and a 24-hour in-house convenience store called The Market – a name that Marriott has miraculously been able to trademark. A gym, business center, swimming pool, green roof, 2,800 square feet of meeting space and a direct connection to the New York Avenue Metro station round out the project. An Au Bon Pain location occupying just some of the project’s 10,000 square feet of street level retail has already opened for business; the other retailers set to share space in the hotel have yet to be publicly disclosed.

The Finvarb Companies are the majority stakeholder in the project via Marriott’s Diverse Ownership Initiative. Other investors include Dave Wilmot of Harmon, Wilmot, Brown and Bagwell, LLC, Craig Welburn of Welburn Hospitality, Thomas Hopkins and Dr. Barron Harvey.

Fenty Takes Out Trash in Deanwood

Deanwood's trash transfer facility/recycling center was demolished this week as Washington, DC Mayor Fenty announced the District’s intent to redevelop the site as mixed-income housing. The raze of the 32,000 square foot, one-story building located at 5201 Hayes Street, NE officially kicks off the Office of the Deputy Mayor for Planning and Economic Development’s (ODMPED) search for a development team for the property, which they say can accommodate "up to 232 units of housing."

"Today’s demolition is a big step forward for one of our most important projects in our New Communities Initiative. The development of new housing in the Lincoln Heights/Richardson Dwellings neighborhood is a top priority of my administration’s plan to revitalize the Deanwood community in Ward 7," said Fenty via press release. The RFP is available online and proposals for the project are due on July 6^th by 4 PM.

The trash processing facility was purchased by the District in December 2008 and stands just blocks from a previously solicited ODMPED project at 4427 Hayes Street, NE. That development, also branded as part of Fenty’s New Communities initiative, is set to include 26 new residential units and 9 “replacement housing units” for area residents displaced by renovations at the Lincoln Heights/Richardson Dwellings complex. The Mayor announced on March 27^th that Blue Skye Development has been selected to head up that project.

Factory 202 Gets Mixed-Up in Southeast?

Forest City Washington's aggressive development of the Capitol Riverfront via The Yards project is still keeping pace with its brisk timetable, but one component in particular might be getting a little retooling before it sees the light of day. The SK&I-designed Factory 202 project - a renovation and expansion of the Navy Yard industrial building formerly occupied by Federal Protective Services - had initially been inked as a 271-unit condo project. Now, whether due to the enduring pain of the condo market or saturation from competing projects in the area, Forest City is exploring the possibility of a different development scheme for the property.

"We're currently evaluating whether it will be all residential or include some mixed-use retail," said Gary McManus, Marketing Manager for Forest City.

Another contributing factor to the planned renovation and two-story addition to the historic warehouse/factory - still slated for a 2011 completion - is the fact that the property remains in the hands of the General Services Administration (GSA). Said McManus:

That’s former federal land…GSA actually owns that site and we’re partnering with them...When we actually begin development of a new building or redevelopment of one of the existing buildings, we buy that parcel from GSA at that point. But…nothing is happening on that building yet, we haven’t bought [it].

As such, a definitive start date for project has yet to be scheduled. Nonetheless, work continues on several other mixed-use Yards projects. The Park at the Yards is under is construction, while the adjoining “Lumber Shed” renovation, new retail pavilions and stainless steel spire all recently received approvals from the DC Zoning Commission and National Capital Planning Commission. Meanwhile, the Boilermaker Shops at 200 Tingey Street, SE continues to court retailers for what (one day) will be space along the linchpin of the Capitol Riverfront boardwalk.

Portico Nears Full Occupancy in Silver Spring

Patriot Realty’s Portico project in downtown Silver Spring – since rebranded as the Portico at Silver Spring Metro – appears to be doing solid business in a housing market gone kaput. The AR Meyers and Associates-designed building at 1203 Fiddler Lane usurped what had been a long vacant parcel whose only claim to fame was being straddled by Cuban and Scottish (MacDonald’s) restaurants. Now, since opening its doors to the public on November 15^th of last year, the 12-story building once planned as a condo is succeeding in its conversion to rental units.

According to the Portico leasing office, 82% of the building’s 151-units are now occupied. Of course, that could be chalked up to the fact that they’re offering two months free rent to tenants (how’s that for an amenity), but could also have to do with timing. In the two years since Patriot broke ground on the Portico, other Silver Spring projects once pursuing similar timelines – 1050 Ripley, Midtown Silver Spring and the Transit Center Towers, to name a few – have seen their timelines extended ad infinitum as developers struggle to secure financing.

That’s left a big hole in Silver Spring urbanista-friendly housing market that Patriot has seemingly filled with flourishes like in-house billiard and yoga rooms, a wireless internet lounge and a mini-theater that screens movies and sporting events. Plus it’s a block from the Metro – an advertising point so strong that the developer renamed the project after it.

Rents in the Portico are currently starting at $1550. Patriot Realty did not respond to DCmud’s inquiries concerning the project.

Silver Spring commercial real estate news

1010 Mass Condos

1010 Massachusetts Avenue, NW, Washington DC, 20001

1010 Mass condos is a 14-story, 163-unit condominium, developed by Rock Creek Properties (RCP), North Carolina-based Faison and the Carlyle Group. Sales began October 2005; first settlements began early Summer, 2007, and the project sold out by late 2008. Located in between Shaw and downtown DC, 3 blocks from Metro (Mt. Vernon), 1010 Mass has 8700 s.f. of ground floor retail, a rooftop lap pool and patio with superb views, and overlooks the new DC Convention Center and Massachusetts Avenue, taking the place of a small office building that had been on site. The underground garage houses space for 169 cars, i.e. only one per unit. Prices ranged from $400k to $1.5m; parking was available to purchase at $37,500. Faison also built the Whitman condos nearby. Architectural design by Esocoff & Assoc., Glen Construction performed construction, but went bankrupt after completing about 80% of the building.

Washington DC real estate development news

A New New York for DC

Details regarding the Bozzuto Development Company's once mysterious New York Avenue project have finally surfaced. Now teamed with WDG Architects, the developer is pursuing at least one, if not two residential developments along the burgeoning Mount Vernon Triangle strip that also includes recent developments such as Yale Laundry and CityVista.

The so-called New York Avenue Apartments (let’s hope that's a placeholder) is planned to stand 13-stories tall at 460 New York Avenue, NW and include 87 residential units for a total of 85,555 square feet of new District development. The project's 9,059 square foot lot is now mainly vacant, with the exception of a non-contributing building at the intersection of New York Avenue and L Street, NW that will be demolished to make way for the project. A historic building next door to the site "that by virtue of alterations and its serious structural deficiencies has lost its integrity" will include 6 of the planned apartments and receive a full renovation.

Bozzuto Development Company President Toby Bozzuto told DCmud the company has also made tentative plans for an abandoned warehouse across the street that is also under their control.

Per the development team’s presentation to the local ANC 2C last year, WDG will utilize masonry, stone, glass, and metal for the building’s façade, along with “projecting bays” running from the third to eleventh stories. According to documentation from the developer, “The project will serve as a bridge between the historic rowhouses along 5^th Street and the new Yale Steam Laundry project.” A ground floor fitness center and two levels of below grade parking will reportedly round out the development.

Though the PUD project’s timeline has been elongated due to snags with another governing ANC (the project's location is flush to the boundary between two zones) and market declines in general, Bozzuto said it would be "terrific to start...in 2010."

Washington DC commercial real estate news

Team Selected for SW Fire Site

There’s a new bright red fire station in the works for Southwest Washington. Deputy Mayor Neil Albert and DC Fire Chief Dennis Rubin joined Mayor Adrian Fenty today to announce the official selection of E Street Development for the redevelopment of two parcels adjoining Engine Company 13 at 450 6th Street, SW.

The development team – a partnership between Potomac Investment Properties, City Partners and Adams Investment Group – will construct over 500,000 square feet of new office and retail space on two District-owned parcels between 5th and 6th Street, SW. In addition, their mixed-use complex will also house a new, state-of-the-art, 22,000 square foot fire station that, according to the Mayor, “comes at no cost to the District of Columbia.”

“As you look around the station, you can see its great need of heavy maintenance, if not replacement,” said Rubin. “We feel like the time is right and that this is a great opportunity.”

The two Beyer Blinder Belle-designed projects will also be LEED certified and host a bevy of public service uses, including space for Kid Power DC and a café hosted by the DC Central Kitchen. Both Fenty and Deputy Mayor Albert pointed to their inclusion as deciding factors in their choice of E Street over two rival proposals from JLH Partners, Chapman Development and CDC Companies, and Trammell Crow, CSG Urban Partners and Michele Hagans, respectively.

“The E Street Development team stood out because not only of their ability to be visionary, but to provide certainty to the government,” said Fenty.

Michael Gewirz, President of Potomac Investment Properties, followed up on exactly what type of “certainty” his company would be providing to the project. “Some folks have asked what our concerns are given the current economic climate. I can say this: we wouldn’t be standing here if we weren’t capable of doing this project,” said Gewirz. “Right now, we’re just going to work as hard as we can with the Deputy Mayor’s office.”

And they’ll have plenty to work on in the coming months, as the City has yet to decide whether the property will be sold or leased to the E Street team. Albert said the final details concerning the land transfer will hammered out in the next three to four months with a groundbreaking set to occur within the year. In the meantime, Engine Company 13 – the unit tasked with monitoring aerial comings and goings at the White House – will remain open and operational until completion of their new facility.

Though no mention was made of the Mayor’s ongoing scandal concerning (ironically enough) a fire engine donated to the Dominican Republic, city officials were keen on pointing out the extent of the development currently underway in the blocks surrounding 6th Street. The large-scale office development, Constitution Center, is under construction directly across from the fire station’s present location, while its new spot a few hundred yards away will adjoin the District’s new Consolidated Forensics Laboratory.

Washington DC commercial real estate news

Olde Towne Gaithersburg is New Again

It's no secret that Gaithersburg has a bit of an image problem. It may be Maryland's fourth largest city, but it also lacks the basic accouterments young professionals seek for a live-work environment: restaurants, nightlife, shopping, movie theaters and the like (and the City Fathers seem to agree). Local developer Keystone Real Estate Investments LLC is the trying to rope in that demographic by using a tact usually reserved for the inner city: demolishing affordable housing projects in the Olde Towne city center and replacing them with a slew of rental apartments targeted at the twenty-something set.

Keystone's first act in this arena will be the Residences at Olde Towne - a 191-unit, two-building development scheduled to be built at the current site of the Diamond House and Diamond Acres apartments at the intersection of Water and Diamond Streets. Described as having an "upscale hotel"-type feel, the project has already been unanimously approved by the Montgomery County Planning Commission and pinned down a March 2011 start date.

Betting on success, the developer has already lined up a sequel a few blocks away. The Suites 355 will land at the base of old town's main drag, Frederick Avenue, and go even bigger: 268 “multifamily” units in a four-story building. The Suites, too, will replace an affordable housing development, the Executive Gardens, and, the way Keystone sees it, there could not be any more of an improvement.

“It is the blighted conditions of these [buildings] and the nearby area that cause these apartments to be deemed affordable housing, as there are no legal requirements for these apartments to be rented at affordable rent amounts,” says the developer. “The new 459 apartments on the two sites will include 69 Moderately Priced Dwelling Units…as required by the city’s Affordable Housing Ordinance.”

Though plans for the Suites 355 have yet to be filed with Planning Board officials, company reps have met with the Gaithersburg Mayor and City Council as recently as March 16^th to discuss their application. Both of the projects in Keystone’s portfolio will be designed by DVA Architects, and both will be aiming for a LEED certification.