JBG Releases New Renderings for Sedona | Slate

JBG Companies has released new renderings of its Rosslyn project Sedona | Slate. The two-building apartment project, now under construction, will also feature 25 townhouses and 55 units of subsidized housing. Officials at JBG say the project will be complete by the first quarter of next year. Clark Construction is building the project designed by Architects Collaborative, Collins & Kronstadt is the architect of record. Both apartment buildings are expected to be LEED Silver Certified.

Sedona

Slate

Arlington, Virginia real estate development news

Streetcar Plan To Boost District Real Estate Values by $8 Billion, District's Chief Planner Says

The District's ambitious plan to restart its streetcar network will cost $1.5 billion -- but could pay for itself more than fivefold with increased property values, more jobs and development along the 37 miles of planned streetcar lines, says Harriet Tregoning, the District's chief planning officer.

Tregoning unveiled the Streetcar Land Use Study and her office's number crunching session today at a smart-growth planning session at the National Building Museum. "It's really our transportation infrastructure that shapes our development," said Tregoning, noting that the District has earmarked $100 million in capital funding for the development and building of the eight-line streetcar expansion. Already the District has two lines under construction, one in Anacostia and the other on H Street NE, where more than two miles of tracks have been laid as part of a Great Streets revitalization. The District recently agreed to expand service over the H Street "Hopscotch" Bridge to connect the streetcar system with Union Station and to buy two more cars in addition to the three in storage in Greenbelt. Both lines are expected to begin limited service starting in mid-2013 with some on-rail non-revenue testing of the Skoda-Inekon-built cars beginning this year, Tregoning said.

While much of the grunt-work and operational details are being handled by the District Department of Transportation, its been up to the Office of Planning to detail the 30,000-foot view of the impact to the city as a whole, if the District can return a city-wide network of streetcars, similar to what existed for nearly 100 years up until January 1962, when the last streetcar rolled on a revenue run.

The Office of Planning's study showed that the current $100 billion values of District properties would increase by as much as $ 5 billion to $7 billion over ten years as the plan is completed and would attract investment of $5 billion to $8 billion during the same period. That might allow the District to sell $600 million to $900 million in bonds paid for the by the new revenue, the study claims.

"The streetcar's visibility and permanence will attract private real estate investment," she said, echoing a line long argued by streetcar proponents. "You don't have to worry about the route changing like you do with buses," Tregoning said in a pitch to potential real estate investors in the 100-person audience. "Please look at these corridors for your strategic acquisitions."

While drilling deep into streetcar proponent's talking points, including improving access to schools, expanding an already growing "creative class" and reviving historic neighborhoods, Tregoning poured some cold water on calls for Bus Rapid Transit (BRT), which would be cheaper and faster to get into service, saying they won't get the same bang-for-the-buck as streetcars. "BRT does not attract the same level of investment," she said.

Tregoning said that the Office of Planning estimated that the streetcar lines would add 5,000 to 12,000 additional households over ten years, above the increases already projected. That in turn would spur a further burst of retail, as 1,000 households typically support an expansion of 30,000 to 50,000 square-feet of shopping, equal to a large supermarket.

Tregoning however wouldn't answer questions on whether the ridership projections would be enough to pay for the operating costs of the system, or where the financing of the remaining $900 million-plus estimated to fully build out the system would come from. The federal government is always an option, but the study notes typically that the federal government funds only up to 50 percent of the project's cost and can add delays while the community waits for the feds to decide.

The District, according to the study, is counting on increased revenue from real estate development along the streetcar corridors to help finance future construction of the system. "We want to be able to finance the whole system," Tregoning said. That may take the help of the real estate development industry, which, she said, historically supported mass-transit systems as part of building new communities. "We are going to need private partners as well as public."

Washington D.C. real estate redevelopment news

Your Next Place

By Franklin Schneider

This Capitol Hill corner townhouse, with its turret and tower, could be like your very own D.C castle. If I lived here I'd retain someone just to stay on the balcony and announce guests with bugles and fanfare. “Sire, the neighbor comes to remind you that you're not allowed to put the trash curbside until six o'clock, and it's only 5:45!” “Bring the cans back up until 6, and then catapult a plague-ridden corpse through his skylight.”

Ha ha! I'm not even kidding. You could absolutely fall prey to delusions of grandeur in a house like this. I mean, it's not often you see a house this grand, this sprawling, in the city. Recently remodeled, this four-level beauty has it all. You enter into a spacious livng room – if it's cold there's a fireplace right there to warm yourself by. The living room has high ceilings and beautiful rich dark hardwood floors, recessed lighting and tons of windows. The kitchen is a long, wide affair, with acres of counter space. The master bath features a distinctive ceramic tile shower and a great soaking tub, and the master bedroom suite is like a little kingdom in and of itself, with a sitting area off to the side and plenty of light.

This is also where you'll find my personal favorite part of the house, a very charming and well-built Juliet balcony. It's the perfect space for a quite moment of reflection at dawn or dusk, or a place to lounge in the summer above the heat and noise (and bugs don't come up this high.) You could also put a catapult up there. Just saying.
901 N. Carolina Avenue SE
4 Bedrooms, 4.5 Baths
$1,125,000

MRP Plans "Trophy" Office Space in Penn Quarter

MidAtlantic Realty Partners LLC, better known as MRP, today announced a joint venture with real estate investment management firm Rockpoint Group LLC to build a new Class A "trophy" office building at the southwest corner of 9th and G Streets in Penn Quarter, the former location of the National Capital Area YWCA.

The 112,000 s.f., nine-story building will be designed by San Francisco-based Gensler. Like many of its Washington contemporaries it will include a glass-wrapped exterior with nine-foot ceilings for levels two through seven and two penthouse levels with ten-foot ceilings that have views of the Capitol and the Washington Monument. The company says it will be LEED-Gold certified and will also include a "green" roof with storm water treatment. MRP says the building will use 12 percent less energy and 40 percent less water than typical office spaces.

"We will develop a dramatic building that visually captures the corner while creating an active and memorable street-level retail experience," said Bob Murphy, managing partner of MRP Realty in a statement.

Julie Chase, a spokeswoman for MRP says the tenants of the 9-story building currently on the site are expected to move out by June of this year and that the building will be torn down "immediately after." Chase said MRP was not willing to release the overall costs of the construction. "They will be commensurate with a high-quality trophy building," she said.

The corner is already home to the Ludwig Mies van der Rohe-designed

Martin Luther King Jr. library, and will sit astride the Smithsonian Museum of American Art, the National Portrait Gallery and Gallery Place Metro, connecting to the Red, Green and Yellow lines. Skanska Commercial Development recently completed an $85 million "trophy" space at 10th and G Street.

The National Capital YWCA, which occupied the lower floors of the 9th Street building, moved to a new 15,000 square-foot location at 14th and Florida in December.
Washington D.C. real estate development news

Today in Pictures - Rosslyn Commons

JBG Companies began construction on Rosslyn Commons exactly one year ago tomorrow. The Rosslyn apartment project will include two apartment buildings, the Sedona and the Slate, and 25 townhouses, with 55 units of subsidized housing. Despite a catastrophic wall collapse during excavation, digging is now complete and general contractor Clark Construction is now building up. Both apartment buildings are expected to be LEED Silver Certified, and both residential towers will include a rooftop pool and rooftop fitness center. Bethesda-based Architects Collaborative designed the building.













Arlington, VA real estate development news

Woodmont Triangle Apartment Developers Seek Approal for Trillium Successor

The barren, long-fallow Trillium site in Bethesda, long considered an unwelcome reminder of the untimely demise of the local market, is set to bounce back. Bethesda-based StonebridgeCarras, which in partnership with Walton Street Capital purchased the site in early 2011 for just over $29 million, filed their new plans for the site with Montgomery County just last month and hope to be before the planning board early this year.

“This is my new favorite project,” enthused Ellen Miller, Principal at Stonebridge. “This building is a gateway to Bethesda. The lot to the north [at the corner of Woodmont and Wisconsin] is owned by NIH and is a beautiful greenspace, and coming from the north you'll look across that and see this very handsome glass and brick building.”

The new plans are “quite different,” from the Trillium plans, says Miller. Where the Trillium plan, a Davis Carter Scott-designed series of three towers, was slanted heavily toward the high-end condo market, the Stonebridge development calls for around 370 rental units, from efficiencies to three-bedrooms, and a limited number of townhouse units that open directly onto Wisconsin Avenue. It also incorporates a significant amount of underground parking, and a grocery story on the ground floor - sort of.

“Given the topography of the site, how it falls almost twenty feet from Battery Lane,” says Miller, “the grocery store will be largely submerged on the Wisconsin side, with the main entrance on Woodmont.”

The u-shaped building, designed by WDG Architecture, features an interior green courtyard, which will incorporate an entrance to the as-yet-unnamed grocery store. Miller was coy when asked who it would be – Harris Teeter? Safeway? - but said that while they're still in negotiations, she thought the neighborhood would be very pleased with the mystery tenant. “This grocery amenity will not only serve the neighborhood, but also draw people in,” she said.

The site, way back when, was once home to the Clarion hotel, which was demolished in 2007 to make way for the Trillium project, the defunct condominium complex spearheaded by Houston-based Patrinely Group.

Doug Firstenberg, another principal at Stonebridge, told DCMud last year that he hoped this project could “anchor the redevelopment of Woodmont Triangle." Woodmont Triangle, situated as it is between the Medical Center and Bethesda metro stops on the Red Line, has attracted quite a bit of attention from developers recently. In addition to this project, developers are now building a pair of 17-story buildings in Woodmont - Bainbridge Bethesda as well and the long-delayed rebuild of 4900 Fairmont Avenue.

Just as the vacant Trillium site, which after last year's hurricane had fallen into open disrepair (Stonebridge has since cleaned up the lot) was seen by many as a symbol of the market crash, perhaps the long-overdue redevelopment could be a harbinger of an upturn? Local developers, no doubt, are hoping.

Bethesda, Maryland real estate development news

Will Takoma Finally Embrace Its Inner Bethesda?

Denizens of the earthy Takoma neighborhood are finally seeing much-promised transit-oriented development beginning to sprout along underutilized Carroll Street NW, just steps from the Takoma Metro station.

Earlier this month, real estate giant Federal Capital Partners of Chevy Chase, which owns more than $1.8 billion in real estate assets in the mid-Atlantic region, announced the $36 million joint venture with Level 2 Development's Takoma Central, currently building in the 200 block of Carroll Street NW near the District-Maryland border.

Still, even as its neighbor to the north, Silver Spring, sees a burst of development, it hasn't been easy to convince the 17,000-plus globally-inspired Takoma Park citizens -- where illegal immigrants are allowed to vote in city elections and hold office -- to embrace their inner-Bethesda. Takoma Park residents, many of whom refer to the city as a "village," fought a long, but losing battle against a much-maligned CVS along Carroll Street in 1998 that led to the quick demise of a favorite mom-and-pop pharmacy on the Takoma Park, Maryland side. And a Subway sandwich joint that located in the village's historic district found its windows smashed in 2004 with the epithet "shop local" scrawled in spray paint.

But things may finally be changing in the People's Republic of Takoma Park as once development-wary residents embraced the Takoma Central design. That made it an ideal opportunity for Federal Capital Partners' Wade Casstevens, vice president of residential development.

"I think its a great place to live and well-kept secret," Casstevens said in an interview. "There haven't been areas in Takoma that you could build a large complex, so this is a true infill opportunity." Takoma Central will have amenities common to other Class A spaces in Logan Circle, Bethesda, and most recently Silver Spring, such as granite countertops, and stainless steel appliances, not easily found in Takoma. "Our strategy is to look for areas that have one or less competitors, not four or more, which is what we're finding in Silver Spring " he said.

Originally known as Ecco Park condos, the plan converted to apartments in 2008 under the design and ownership of SGA Architects. Takoma Central will be built in two phases.

Phase One, already under construction, is four stories, with a round, castle-like turret at the corner of Carroll Street and Maple, and will have 84 units and 70 underground parking spaces, plus 6,500 square feet for ground level retail.

Phase Two is a five-story, brick warehouse-style complex with 60 units and 35 underground parking spaces and ground-floor retail.

More importantly, the development may fill in a key gap between the bustle and activity of the Metro station and the quarter-mile walk to Carroll Avenue, Takoma Park's main street with well-kept sidewalks and quaint Victorian-era street lighting. Carroll Street NW becomes Carroll Avenue at the Maryland line, for those keeping score.

The 200 block of Carroll Street currently consists of a convenience store, a funeral home, the CVS pharmacy, and several surface parking lots. But the brick sidewalks are crumbling and there is no pedestrian friendly street lighting. Casstevens says the infrastructure and consistency of the street will improve with the completion of Takoma Central. "Right now, that part of Carroll Street looks a little beat up."

Phase 1 construction has begun already and Phase 2 will begin later this year. FCP says they will complete construction by the fourth quarter of 2013.

The construction of Takoma Central will go a long ways to renovating Carroll Street on both sides of the Metro line that the District and Maryland have been seeking to make ripe for transit-oriented development projects.

On the West side of the Metro line, where Carroll Street becomes Cedar Street, the District Office of Planning has been looking at possible enhancements to the neighborhood near the dormant Takoma Theater and its surrounds since Anthony Williams' tenure as Washington D.C.'s Mayor.

The Office of Planning's 2002 report shared the puzzlement over why TOD near Takoma Metro wasn't forthcoming. "Neither Carroll Street nor 4th Street have developed the critical mass of retail, commercial and housing that their Maryland neighbor enjoys, despite being anchored by the most heavily used pedestrian Metro transit station in the District of Columbia."

The Gables, a LEED-certified 142-unit complex opened in 2008 along Blair Road. FCP's Casstevens credits the opening of Gables for influencing their decision. "It was definitely a factor in our choice," he said. The Gables has many of the same amenities that Takoma Central offers, such as stainless steel GE appliances, hardwood floors and black granite countertops.

Still, south of Cedar Street there has been little progress in building a revitalized neighborhood around the historic Theater. Takoma Village, a unique co-housing urban village opened next to the historic Art Deco Takoma Theater in November 2000.

Milt McGinty, father of WUSA-9 anchorman Derek McGinty owns the theater, and wants to raze it to convert it to luxury apartments.

Preservationists want the the city to buy the theater outright but McGinty says the theater, which was built in 1923 isn't for sale and the theater stands in disrepair, prompting some accusations of "demolition by neglect." Like many development disputes, the fate of the Takoma Theater may end up it court while neighborhood redevelopment plans continue to gather dust.

Washington D.C. real estate development news

Your Next Place

A lot of times, I sort of hurry through my open houses so I can get back home and go back to bed (what, Sunday is the day of rest), but this place was so stunning I actually called my friends and urged them to hurry over and check it out. "There's an elevator! With recessed lighting!" I said excitedly. "The only way we'll ever set foot in this house again would be as burglars!"

No one came. That's fine though, I did enough coveting for everyone. I mean, look at this place! An already ridiculously beautiful Beaux Arts home in Kalorama, it was exhaustively redone in 2009 with only the finest materials and finishes. This house is like a gold-plated Lamborghini. Right off the bat you're dazzled by the high-ceilinged black and white marble foyer with views of Rock Creek Park. (That's right - the foyer has park views.) Then there's the formal dining room, which brilliantly achieves a sort of classic sophistication while also seeming totally of the moment. Not as easy as it sounds, as you know if you've ever been laughed at in public for wearing a sweater vest. The living room is airy and bright, with an original wood-burning fireplace, and there's a fantastic library with another fireplace and a ton of fine wooden built-ins.


Upstairs, the master bedroom is truly masterful, with Italian custom cabinetry and a patio overlooking the back, and the master bathroom, one of nine (!) is incredible, with marble floors, mahogany vanities, and a huge glass cube of a shower, outfitted with one of those rain-style trickle-down showerheads that seemed so easy to install in my apartment but then fell off during its inaugural shower and bonked me on the head like an anvil hitting Wile E. Coyote in the cartoons.

There's the aforementioned elevator, and the family/media room is wired for a home theater sound system, and also a wet bar. (A winning combination.) Downstairs is a four car garage and a double laundry room. In the back is a tiered garden and a very large stone patio that seems sort of like something you'd see in a period piece about the French Revolution. Seriously though, I never thought I'd look at an six million dollar price tag for something and immediately think, "Really? That seems low."

34 Kalorama Circle, NW
8 Bedrooms, 8 Baths
$6,425,000







Washington D.C. real estate news