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I've learned today that mega-developer Toll Brothers has purchased the Square 699N land directly north of the Velocity Condos building on 1st Street SE for $24 million, with the intention of building a 250ish-unit residential building.
This land has been owned by the Cohen Companies since their purchase of the entire block bounded by 1st, Half, K, and L in 2005.
In fact, the garage and below-grade structure for the Toll Brothers lot is already built--that's why you see all the funny beige boxes on the land, covering vent shafts and other infrastructure items. Cohen had planned to move forward with a sibling for Velocity soon after it completed the condo building, but that never came to fruition.
This would be Toll Brothers's first building in DC proper, I believe, but they have plenty of offerings in the Metro area. And, as I found out today, they don't just do single-family homes (White Flint Station is an example of a condo building of theirs in the area). UPDATE: SWill from across the way mentions in the comments that TB bought White Flint Station after it was completed and converted it to condos from apartments. Apologies for the assumption.
More to come on this, I'm sure. And it will no doubt be seen as another indication of the strength of Near Southeast's residential market.
[And I should add that Cohen still owns the third lot on the block, along Half Street.]
Comments (10)
   
 
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ZoolanderANDtheBoYz says: (5/2/12 1:29 PM)
I was hoping they would build a four or five start hotel. What do Toll brothers know about building a condo in a city any way. The one they built in white flint looks horrible link


sggunase says: (5/2/12 1:48 PM)
Interesting, I wonder if it will still be condos given the success of the rentals in the area.


SWill says: (5/2/12 2:18 PM)
BTW - Toll Brothers didn't build White Flint Station - they purchased the apartment complex and converted it to condos.


JD says: (5/2/12 2:20 PM)
Ah, thanks for the clarification.


ZoolanderANDtheBoYz says: (5/2/12 4:13 PM)
Interesting @Swill. So, they never built a big condo building like Velocity?


JD says: (5/2/12 4:24 PM)
No, they've built a number of them.

And I bet this might be the sort of branding this Square 699N project might come under:
link


ZoolanderANDtheBoYz says: (5/2/12 5:08 PM)
WOW awesome. Check this one out link It looks amazing.


Maelstrom says: (5/3/12 7:39 AM)
That looks like I'll never afford it. :P In other new (?) news, I rode past DPW last night (Wednesday) and it looked like teardown equipment is being lined up there that I had not noticed previously. It could be going down soon.


BillP says: (5/3/12 9:21 AM)
good find JD, the locations in manhattan and brooklyn should answer any concerns that they are not capable of building high quality projects in urban areas. one of the brooklyn projects is even certified LEED gold. clearly, cohen was not in a hurry to start phase 2. however, since toll made this purchase, we can infer they have a more aggressive timeframe in mind.


MJM says: (5/3/12 9:45 AM)
Yay! No more sculpture garden!

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Recent Crime Incidents Archive  
900 B/O POTOMAC AVE SE   THEFT F/AUTO
 08/17/15
500 B/O L ST SE   THEFT F/AUTO
 08/17/15
UNIT B/O K ST SE   THEFT F/AUTO
 08/16/15
500 B/O L ST SE   THEFT
 08/08/15
UNIT B/O I ST SE   BURGLARY
 08/07/15
300 B/O WATER ST SE   THEFT
 08/05/15
UNIT B/O I ST SE   THEFT
 08/04/15
50 B/O M ST SE   THEFT
 08/04/15

Recent Issued Building Permits Archive  
1265 1ST ST SE   
08/26/15 
CAPITAL RIVERFRONT HOTEL LLC /
P1508561 / SUPPLEMENTAL
1277 1ST ST SE   
08/21/15 
BALLPARK RESIDENTIAL LLC BALLPARK RESIDENTIAL LLC / CLINT HOLMES; BALLPARK RESIDE BALLPARK RESIDENTIAL LLC; MITCH PERMUY
E20139177 / SUPPLEMENTAL
1331 2ND ST SE   
09/01/15 
DC WATER DC WATER / CORMAN CONSTUCTION
AH1500716 / CONSTRUCTION
TUNNEL BORING MACHINE / EQUIPMENT
1000 5TH ST SE   
08/18/15 
UNITED STATES OF AMERICA / JOSEPH M MAGNOLIA
P1508371 / SUPPLEMENTAL
909 HALF ST SE   
08/18/15 
BAKER DC
AH1500686 / CONSTRUCTION
AN AFTER HOURS PERMIT IS RESPECTFULLY REQUESTED FROM 12:01AM WEDNESDAY THRU 11:59PM THURSDAY. 1-49 BLOCK OF K ST SE
   
08/21/15 
BAKER DC / CHRISTINE LONG
AH1500695 / CONSTRUCTION
AN AFTER HOURS PERMIT IS FROM 12:01AM THRU 11:59PM FROM 08 / 25 / 2015 TO 08 / 29 / 2015
1015 HALF ST SE   
08/17/15 
HALF ST SE LLC / ANTHONY G SAMBURG
E1508502 / SUPPLEMENTAL
   
08/20/15 
WSP PARSONS BRINCKERHOFF / STEVE AUD; WSP PARSONS BRINCKERHOFF; STEVE AUD
E95740122 / SUPPLEMENTAL
   
08/27/15 
HALF ST SE LLC /
P1508598 / SUPPLEMENTAL
601 L ST SE   
08/17/15 
DISTRICT OF COLUMBIA HOUSING AUTHORITY / KRISSY GER LISA LJ PERMIT
B1510955 / CONSTRUCTION
REVISION TO B1101058 MINOR GRADING REVISION
   
08/20/15 
DISTRICT OF COLUMBIA HOUSING AUTHORITY / MARK A DORSEY
EN1502944 / SHOP DRAWING
TYPE OF ELEVATOR ONE (1) HYDRO / STEEL / CENTRALLY / PASSENGER TO PROVIDE ACCESS BETWEEN G AND G2 FLOORS AS PER PLANS.
   
08/20/15 
DISTRICT OF COLUMBIA HOUSING AUTHORITY / MARK A DORSEY
EN1502945 / SHOP DRAWING
TYPE OF ELEVATOR: TWO (2) TRACTION / STEEL / CENTRALLY / PASSENGER (5TH FLOOR).
   
08/20/15 
DISTRICT OF COLUMBIA HOUSING AUTHORITY / MARK A DORSEY
EN1502970 / SHOP DRAWING
TYPE OF ELEVATOR ONE (1) TRACTION / STEEL / CENTRALLY / PASSENGER (6TH FLOOR).
   
08/20/15 
DISTRICT OF COLUMBIA HOUSING AUTHORITY / MARK A DORSEY
EN1502971 / SHOP DRAWING
TYPE OF ELEVATOR ONE (1) TRACTION / STEEL / CENTRALLY / PASSENGER (6TH FLOOR).
80 M ST SE   
08/24/15 
COLUMBIA PROPERTY TRUST / KRISTINA DELGADO
B1510944 / CONSTRUCTION
PARTIAL 4TH FLOOR RENOVATIONS INCLUDING MECHANICAL PLUMBING ELECTRICAL AS WELL AS FURNITURE INSTALLATION.
20 M ST SE   
08/19/15 
SOUTHEAST REALTY LLC / ELEANOR FARID; SOUTHEAST REALTY LLC; RODNEY CANNON
E69278004 / SUPPLEMENTAL
50 M ST SE   
08/14/15 
KCG 50 M LLC / JOSEPH E RICHARDS
E1508432 / SUPPLEMENTAL
   
08/21/15 
KCG 50 M LLC / DANIEL R. RUDE
P1508460 / SUPPLEMENTAL
55 M ST SE   
08/19/15 
DOUG OLSON / DOUG OLSON; NONE
SG1500414 / CONSTRUCTION
NEW SIGNS INSTALLATION AS PER PLANS
1500 M ST SE   
08/21/15 
WASHINGTON YACHT CLUB / ZACHARY ZILL
SB1500438 / CONSTRUCTION
SOIL BORING FOR COMPENSATION GROUTING ALONG THE ALIGNMENT OF DC WATER'S CLEAN RIVERS DIV H - ANACOSTIA RIVER TUNNEL. FORTEEN BORINGS TO MAX DEPTH OF 70 FEET BGS 2 INCH DIAMETER GROUT TUBES INSIDE 5.5 INCH DIA CASINGS. DUPLEX ROTARY DRILLING METHOD. REF. PERMIT SB1400400.
125 O ST SE   
08/28/15 
DISTRICT OF COLUMBIA /
R1500073 / CONSTRUCTION
WOOD SHED
   
08/28/15 
DISTRICT OF COLUMBIA / SAMAHA ASSOC.PC
R1500072 / CONSTRUCTION
ONE STORY BRICK STORAGE SHED
1500 SOUTH CAPITOL ST SE   
08/14/15 
P1508259 / SUPPLEMENTAL
355 WATER ST SE   
08/14/15 
TIAN LUU / TIAN LUU; TIAN LUU; JAMES BORROR
E95497821 / 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;

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