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Both the Washington Post and the Washington Business Journal (subscribers only) came out with stories this week chronicling the rise and fall and now re-rise of Monument Realty. They both describe Monument's high-flying ways during the real estate bubble of the early 2000s with "high-risk, high-return deals and an aggressive, cowboylike approach to development that rubbed the old guard the wrong way," followed by their near dissolution thanks to the collapse of their backer, Lehman Brothers. But thanks to some new deals around the region with different financing partners, Monument appears to be rebounding.
There's not been an announcement from Monument that I've seen, but the WBJ article says that Monument has signed the Federal Aviation Administration to a 55,000-square-foot lease at 55 M Street, which I believe would bring the building to about 90 percent leased. (At the time Monument announced their deal to lease 150,000 square feet to DDOT, they said the 275,000-square-foot building's office space was 70 percent leased.)
However, in detailing what it says are $500 million in new Monument projects around the Metro area leveraged from a $10 million deal with Atlas Capital Group, WBJ makes no mention of any intentions for construction to get underway on Monument's remaining Half Street plans just north of Nationals Park. The well-known hole in the ground, dug in 2007 when 55 M was built, is eventually supposed to be 330 residential units and a 200-room hotel, which you can see a rendering of on my project page or on Monument's Half Street web site. Monument also owns all of the land on the east side of South Capitol between M and N except for the self storage building, as well as the 50 M street lot on the northeast corner of Half and M.
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Sarah says: (1/31/11 1:54 PM)
Monument said the residential component will move first and could break ground by the end of the year if the team lands financing. The hotel would follow.


JD says: (1/31/11 2:02 PM)
Yes, I've heard that, but color me still somewhat leery of "if we get financing" verbiage, which has been the stock reply of pretty much all developers for three years now. There's a ton of projects not just in the neighborhood but all over the city that would gladly start by the end of the year if they get financing. Lending is loosening for sure, but that's still not an easy step.

(Not to mention, the ground technically is already broken. :-) )

That said, residential is most likely an easier sell to financial backers in this neighborhood than office, given how full the other new residential in the neighborhood all is.



Sarah says: (1/31/11 2:43 PM)
Yeah, that's why we didn't include it in the story - wasn't newsworthy at this point.

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City Government Data for Near Southeast Records added or updated recently displayed here; click the "archive" links to see additional detail and older records. All data from DC Government databases and RSS feeds. JDLand takes no responsibility for errors, omissions, etc. (read CapStat disclaimer). Data is retrieved daily.

Recent Crime Incidents Archive  
200 B/O M ST SE   BURGLARY
Burglary Two
 05/30/20
900 B/O 1ST ST SE   MOTOR VEHICLE THEFT
Theft First Degree (Stolen Auto)
 05/27/20
900 B/O 1ST ST SE   MOTOR VEHICLE THEFT
Theft First Degree (Stolen Auto)
 05/26/20
1000 B/O HALF ST SE   MOTOR VEHICLE THEFT
Theft First Degree (Stolen Auto)
 05/24/20
1200 B/O VAN ST SE   MOTOR VEHICLE THEFT
Theft First Degree (Stolen Auto)
 05/23/20
400 B/O M ST SE   THEFT
Theft 2nd Degree (all Other Larceny)
 05/20/20
1100 B/O I ST SE   MOTOR VEHICLE THEFT
Theft First Degree (Stolen Auto)
 05/19/20
1100 B/O 1ST ST SE   MOTOR VEHICLE THEFT
Theft First Degree (Stolen Auto)
 05/19/20
1200 B/O HALF ST SE   MOTOR VEHICLE THEFT
Theft First Degree (Stolen Auto)
 05/17/20
100 B/O M ST SE   MOTOR VEHICLE THEFT
Theft First Degree (Stolen Auto)
 05/15/20
1200 B/O 4TH ST SE   ASSAULT WITH A DANGEROUS WEAPON  05/12/20
300 B/O WATER ST SE   THEFT
Theft 2nd Degree (all Other Larceny)
 05/07/20
100 B/O H ST SE   THEFT
Theft 2nd Degree (theft From Building)
 05/03/20
100 B/O L ST SE   THEFT
Theft 2nd Degree (all Other Larceny)
 05/03/20

Recent Issued Building Permits Archive  
1300 4TH ST SE RU-1   
05/14/20 
AP BOWER RETAIL LLC / null
P2006042 / SUPPLEMENTAL
1300 4TH ST SE   
05/08/20 
null / ;
P2005886 / SUPPLEMENTAL
   
05/15/20 
null / ;
P2006066 / SUPPLEMENTAL
929 5TH ST SE   
05/18/20 
CHRISTOPHER D FRENCH / CHRIS FRENCH; HERCULES FENCE OF MARYLAND, LLC HERCULES FENCE OF
F2000461 / CONSTRUCTION
1. Removal and replacement of front metal fence and gate in kind.  2. Removal and partial relocation of existing 6' tall wood fence in rear patio. The fence is currently approx. 30" inside the rear property line, and we intend to move the fence to our rear property line. The work includes removal of existing wood gate that opens from neighbor's property to our property along shared property line ...
300 M ST SE 4TH FL   
05/05/20 
FEDERAL CENTER LP / ;
P2005798 / SUPPLEMENTAL
300 M ST SE   
05/14/20 
AMENTUM / null
E2007609 / SUPPLEMENTAL
111 N ST SE   
05/07/20 
BROOKFIELD PROPERTIES / MAHMOUD KHACHAN; NA
SB2000288 / CONSTRUCTION
Drill temporary eight soil borings to a depth of 80 each at the existing parking lot at 111 N Street SE, Washington DC. The diameter of the borings is 6 inches. The borings will be grouted upon completion in accordance with DCRA requirements as indicated in the work plan.
1111 NEW JERSEY AVE SE   
05/12/20 
GALLERY CAPITOL RIVERFRONT PROPERTY LLC / null
E2007563 / SUPPLEMENTAL
1275 NEW JERSEY AVE SE   
05/06/20 
UNITED STATES OF AMERICA / JUSTIN BELLOW; NA
B1913803 / CONSTRUCTION
PARCEL G PROJECT CONSISTS OF A NEW 12 STORY OFFICE BUILDING WITH STREET LEVEL RETAIL AND 2 LEVELS OF BELOW GRADE PARKING. 2 LEVEL PARKING APPROVED UNDER FOUNDATION TO GRADE FD1900047 & SHEETING AND SHORING SH1900050
   
05/19/20 
UNITED STATES OF AMERICA / null
M2002480 / SUPPLEMENTAL
   
05/19/20 
UNITED STATES OF AMERICA / null
P2006118 / SUPPLEMENTAL
AH = After Hours; B = Alteration & Repair; D = Demolition; E = Electrical; FB = Boiler; M = Mechanical; P = Plumbing and Gas; PC = Post Card; R = Raze; SG = Sign; TL = Tenant Layout; TN = Tent; RW = Retaining Wall;

Real Property Sales Archive  
No commercial transaction records added or modified in the past two weeks.


Project Directory
Completed
Thompson Hotel ('20)
West Half ('19)
Novel South Capitol ('19)
Yards/Guild Apts. ('19)
Capper/The Harlow ('19)
New DC Water HQ ('19)
Yards/Bower Condos ('19)
Virginia Ave. Tunnel ('19)
99 M ('18)
Agora ('18)
1221 Van ('18)
District Winery ('17)
Insignia on M ('17)
F1rst/Residence Inn ('17)
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 Cap. ('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
Capper/Carrollsburg
Anacostia Riverwalk
New Jersey Avenue
M Street
South Capitol Street
The Yards
Lower 8th Street
East M Street
Boathouse Row





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