Since January, 2003
            
 Sliding from Before to After

The cover story of this week's Washington Business Journal (online for subscribers only) asks: "With Wall Street imploding, regional banks running for shelter and life insurance companies pulling up the ladders, if 1000 Connecticut couldn't get construction financing before the financial storm took on epic proportions, who can get it now?" It also quotes an expert as saying: "For any speculative project, both inside and outside the city -- even in core locations downtown -- it's basically impossible."
The article mentions two of Near Southeast's spec projects in the pipeline:
* "Others, like the William C. Smith Cos. project near Nationals Ballpark at 250 M St. SE, don't intend to pursue financing or break ground until they have a signed-and-sealed tenant."
* "James 'Jad' Donohoe IV, whose company plans a 200,000-square-foot office building at 1111 New Jersey Ave. SE, said he has no choice but to broaden his financing net to include nontraditional sources of funding, such as syndication arrangements with multiple banks, sovereign wealth funds and equity from hotels that will be part of the development. " 'We're still in the early stages now, but we've already been searching those things out for this and for other projects we have out there,' he said."
I'd also note that another office spec project in the neighborhood, DRI/Transwestern's Plaza on K on the northwest corner of First and K, had previously mentioned a Fall 2008 start date for its first phase, but there have been no recent announcements and no building permits filed.
And, there's also three spec office buildings currently under construction--55 M, 100 M, and 1015 Half, with only 100 M having so far announced any tenants (Parsons is expected to occupy 30 percent of the building, in early 2009). But, according to WBJ, "industry experts say they are not too worried about the future of the 36 local buildings that are under construction but not under contract to a tenant."
Will the bailout deal change any of this? [insert "We shall see...." comment here.]
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G St says: (9/29/08 10:48 AM)
Are the Capper/ Carrollsburg townhouses all still going in? Thanks


JD says: (9/29/08 11:50 AM)
First phase (blocks between 4th and 5th, and block bounded by Virginia, I, 3rd, and 4th) is still moving forward as far as I know. Phase II (the rest of the blocks between 3rd and 4th) may take a while.

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Thousands and thousands of photos showing the neighborhood changing. More than 150 buildings no longer with us. All the news, since 2003. Photos from various archives showing the neighborhood in the more distant past. Maps from the early 1900s. Overhead Photo Comparisons: 1949, 1988, 2002-2008. All Blog Entries, 2003 - Present Major Events, 1799 - Present A series of blog entries looking at the neighborhood's history.
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900 B/O 3RD PLACE SE   THEFT
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 03/26/17
50 B/O M ST SE   THEFT
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 03/26/17
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 03/10/17
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 03/08/17
400 B/O M ST SE   THEFT
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 03/08/17
500 B/O L ST SE   THEFT FROM AUTO
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 03/06/17
100 B/O M ST SE   THEFT
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 03/05/17
200 B/O L ST SE   THEFT FROM AUTO
Theft (theft From Motor Vehicle)
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400 B/O M ST SE   THEFT
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Project Directory
Completed
One Hill South ('17)
Homewood Suites ('16)
ORE 82 ('16)
The Bixby ('16)
Dock 79 ('16)
Community Center ('16)
The Brig ('16)
Park Chelsea ('16)
Yards/Arris ('16)
Hampton Inn ('15)
Southeast Blvd. ('15)
11th St. Bridges ('15)
Parc Riverside ('14)
Twelve12/Yards ('14)
Lumber Shed ('13)
Boilermaker Shops ('13)
Camden South Capitol ('13)
Canal Park ('12)
Capitol Quarter ('12)
225 Virginia/200 I ('12)
Foundry Lofts ('12)
1015 Half Street ('10)
Yards Park ('10)
Velocity Condos ('09)
Teague Park ('09)
909 New Jersey Ave. ('09)
55 M ('09)
100 M ('08)
Onyx ('08)
70/100 I ('08)
Nationals Park ('08)
Seniors Bldg Demo ('07)
400 M ('07)
Douglass Bridge Fix ('07)
US DOT HQ ('07)
20 M ('07)
Capper Seniors 1 ('06)
Capitol Hill Tower ('06)
Courtyard/Marriott ('06)
Marine Barracks ('04)


Overviews
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