Friday's print edition of the Washington Business Journal
reports that developer Ron Cohen has purchased the entire block bounded by Half, K, L, and 1st Streets, SE
(square 699N), for $55 million, with plans for a mixed-use project
that may include 650 condos, a hotel with condos, a stand-alone 250,000 sq ft office building, and possibly retail as well. Tenants on the block--including the nightclubs Wet, Edge, and Club 55--have been told that the buildings will be razed in late spring 2006. Phase I of the project will have 250 condos, and hopes are to begin construction in October 2006, and to have the entire project completed in four years. A few pictures of the block in its current state are on my South Capitol Street Corridor
page (you'll have to scroll down a bit for them--this project will eventually get its own page, but not just yet!).