Since January, 2003
            
 Sliding from Before to After

WBJ reports today that three developers have submitted proposals to WMATA for projects on what's known as the Navy Yard Chiller Plant site, on the southwest corner of Half and L, SE.
Sayeth Michael Neibauer: "Akridge wants to build office there. Trammell Crow has bid to construct a residential building, as has a joint venture of MRP Realty and CAS Riegler. All three buildings feature ground floor retail."
Apparently the next step will be public forums "to gauge community interest" in the proposals, and WBJ says that Metro is looking to make selections as soon as mid-summer.
This is not the first time that WMATA has looked to redevelop this 14,000-sq-ft parcel, but a two-year negotiation with Donatelli broke off in 2010 when the developer pulled the plug on a planned 84-unit condo building, saying that the neighborhood was "getting saturated" with residential and that "it didn't look like condominiums were a viable alternative."
WMATA has been looking to get this lot developed since 2006, and you can relive all the twists and turns through my many posts on the subject.
Most likely any developer chosen would buy the 7,700-sq-ft lot with the two-story building next door (which has a big For Sale sign draped on its western side) to expand the site. (That building has quite a history, for those who weren't around for my post on it back in 2010.)
Comments (9)
   
 
 More About Chiller Site/WMATA

JDLand.com Home

Comments

ValveetaChz says: (3/25/14 6:53 PM)
Seriously? Akridge? How about they finish the Half Street Project first before they take on anything new in Navy Yard???


dbt says: (3/26/14 1:25 PM)
I had exactly the same thought about Akridge. You would think that turning a low-revenue property (Half Street) into a high-revenue one by building something would trump buying more property to sit on, but it seems you'd be wrong in their case.


SWag says: (3/26/14 1:41 PM)
With all the visitors that come up and down half street every home game, and the 1,000 or so new residents the city is adding every month - you would think the Half St residential parcels would have no problem leasing/selling out! Navy Yard is hot! Helloooo? What exactly is the hold up? I don't know the history of Half St. development. I suppose I easily just snoop around on the site, but anyone have a quick history?

Also, I can see the logic in developing an office building on the chiller site, and not the mega project.


ZoolanderANDtheBoYz says: (3/26/14 2:38 PM)
It is a mystery. I think it has to do with Lehman brothers.
Lehman brothers was the financier for both Monument and Akridge on the half street project. I am not sure what kind of legal dispute Akridge have on the half street project. Unless JD is keeping the story to herself - All we can do is speculate and come up with our conspiracy theory.


JD says: (3/26/14 2:49 PM)
I don't think that's right about Lehman being involved in the Akridge side of Half Street--I don't ever remember Lehman being mentioned in concert with Akridge, only with Monument. And as far as I know there's no legal issue right now with Akridge's development. (Briefly there was a lawsuit by Monument when Akridge was awarded the Southeastern Bus Garage site, but that's been long over with.)

Monument got dealt a blow with both the economic collapse and the concurrent collapse of their money folks, Lehman. There's been some disentangling going on between those companies, though I think that's done now.

Both Monument and Akridge also bought their land at the very height of the market.

There were rumors at one time that Akridge was/is holding out for building the entire site at once, and since they aren't getting the office space leased, they can't move forward.

Beyond that, I don't really know what the deal is. Maybe someone more on the inside of CRE has some insight.


JD says: (3/26/14 2:53 PM)
I should also say, though, that I do hear through the grapevine that some financing types do look at the neighborhood and feel that it is perhaps getting a bit bubbly for residential. Might not be quite so easy to get financing when the banks see all the units currently under construction....



MJM says: (3/26/14 3:17 PM)
They are missing out if they don't build residential. As mentioned above the new people have to live somewhere. Condos have no problem going up elsewhere in the city. Akridge is probably the worst choice to build there. I can't think of another company in Dc that owns so many vacant plots of land. They are probably eyeing that spot as an extension of the Fairgrounds for the next five years until they can get financing to build.


JES says: (3/28/14 11:38 AM)
Bullish on residential?

link


JES says: (3/28/14 11:39 AM)
*Bubblish, excuse me

Add a Comment:

Comments are closed for this post.

JDLand Comments RSS Feed


 More News


See All Current News Items | Full Blog Archive

 
 Recent Posts

CJBabyDaddy on Inching from Quarantining: Serious workplace accident on the ground this morning at the Chemonics construct...
MJM on Inching from Quarantining: Welcome to the neighborhood Pivot Physical Therapy. Its located behind Sprint (w...
VelocityChris on Inching from Quarantining: How quickly Juice Laundry and Whaley's were replaced bodes well!
conngs0 on Inching from Quarantining: 202, I couldn't agree more re the GNC. It's tough though - retail seems to need...
202_cyclist on Inching from Quarantining: The GNC on Tingey Street is closing. I am sorry for the employees who are losin...
tmich93 on Inching from Quarantining: CVS on the corner of I and Half seems like it's nearly completely stocked. I'd a...
Get JDLand Updates In Your Inbox!



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  
1200 B/O 1ST ST SE   MOTOR VEHICLE THEFT
Theft First Degree (Stolen Auto)
 06/25/20
1200 B/O SOUTH CAPITOL ST SE   THEFT FROM AUTO
Theft First Degree (theft From Motor Vehicle)
 06/23/20
1200 B/O NEW JERSEY AVE SE   ASSAULT WITH A DANGEROUS WEAPON
Assault W/i To Kill
 06/20/20
1000 B/O 3RD PLACE SE   THEFT
Theft 2nd Degree (all Other Larceny)
 06/18/20
800 B/O SOUTH CAPITOL ST SE   ASSAULT WITH A DANGEROUS WEAPON  06/14/20
400 B/O M ST SE   THEFT
Shoplifting
 06/12/20
1000 B/O M ST SE   ROBBERY
Unarmed Carjacking
 06/09/20
UNIT B/O M ST SE   ASSAULT WITH A DANGEROUS WEAPON  06/07/20
1200 B/O 1ST ST SE   BURGLARY
Burglary Two
 06/03/20
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

Recent Issued Building Permits Archive  
150 I ST SE   
06/09/20 
SQUARE 737, LLC C/O WC SMITH / MIMI TRIGGER; MIMI TRIGGER
SP1900051 / CONSTRUCTION
Installation of (2) prefabricated hot tubs on the roof.
300 M ST SE   
06/02/20 
FEDERAL CENTER LP / null
P2006421 / SUPPLEMENTAL
   
06/02/20 
FEDERAL CENTER LP / null
M2002616 / SUPPLEMENTAL
861 NEW JERSEY AVE SE   
06/10/20 
CXS TRANSPORTATION INC / ;
P2006604 / SUPPLEMENTAL
1100 NEW JERSEY AVE SE   
06/10/20 
SQUARE 742 LLC, C/O SPAULDING & SLYE/STE 100, / PAUL WHITLEY
AN1900284 / CONSTRUCTION
PROJECT CONSISTS OF: REMOVING: (2) EXISTING EQUIPMENT CABINETS, (3) EXISTING ANTENNA'S, (1) EXISTING RRU'S AND ANCILLARY EQUIPMENT / CABLE AND INSTALLING: (6) PROPOSED ANTENNA'S, (3) PROPOSED RRU'S, AND(2) PROPOSED EQUIPMENT CABINETS ON AN EXISTING TELECOM FACILITY
1105 NEW JERSEY AVE SE   
06/03/20 
KRISTA ASHSHAHEED / null
E2008140 / SUPPLEMENTAL
1111 NEW JERSEY AVE SE   
06/03/20 
GALLERY CAPITOL RIVERFRONT PROPERTY LLC / ;
P2006475 / SUPPLEMENTAL
1275 NEW JERSEY AVE SE   
06/02/20 
UNITED STATES OF AMERICA / ;
P2006429 / SUPPLEMENTAL
125 O ST SE   
06/05/20 
DISTRICT OF COLUMBIA / BILL SAUNDERS; TBD
B2006271 / CONSTRUCTION
BFPE International will furnish the fire alarm equipment, shop drawings, product data and calculations for the new fire alarm devices being installed at DCWater Main Pumping Station, Washington, DC 20032. This project will be a one for one replacement of panels, addressable and notification devices.
   
06/09/20 
DISTRICT OF COLUMBIA / null
E2008311 / SUPPLEMENTAL
227 TINGEY ST SE   
06/04/20 
UNION INVESTMENT REAL ESTATE GMBH / null
E2008212 / 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





                  © Copyright 2020 JD.