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Last night DDOT held the first of its eight public meetings to unveil its vision for a 37-mile-long network of streetcar lines connecting various portions of DC in three phases, the first of which would include a line running from MLK Avenue in Anacostia across the 11th Street Bridge, eastward on M Street SE, and then terminating |
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From WBJ, the news that government contractor Sayres and Associates has signed a seven-year deal to lease 20,000 square feet at 55 M Street, Monument Realty's office building on top of the Navy Yard Metro station at Half and M. Sayres currently is at Maritime Plaza, and is expected to move into 55 M in April of next year. This is the first tenant for 55 M; with the Bureau of Land Management moving in across the street at Lerner's 20 M next year, all of the office buildings in Near Southeast completed since 2007 will have lease deals (100 M was nearly 40 percent leased when it opened at the end of 2008).|
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55 M St., Monument Valley/Half St.
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The agenda for Monday's ANC 6D meeting has been posted, with two Near Southeast items listed. The first is that the developers of the RiverFront (aka Florida Rock) site between the Anacostia and the ballpark are apparently filing for a time extension on their zoning PUD ("planned unit development," for those of you mercifully unaware). When the zoning approval for this project finally came through in 2008 (after years of slogging through the process), the developers were given until May of 2010 to apply for building permits for the first phase of the project (an office building on the east end of the site, near Diamond Teague Park), with construction then required to start by May 2011. So, although it was recently reported that Florida Rock Properties is looking for an equity partner to help finance the development of the site, they clearly believe that it will be tough for them to meet the zoning order timeline.|
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I attended my first-ever foreclosure sale this morning (yay...?), where the two lots at 23 I Street (the old Wendy's site) that JPI had purchased in 2007 for $28.6 million were to be auctioned off after JPI defaulted on its $25 million loan. However, there were no bidders for the 47,000-sq-ft piece of land (which doesn't include the Exxon next door), and so the property is now owned by Ruben Companies, which bought the original note from Key Bank earlier this year.|
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JDLand stuff, DC Water (WASA)
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JDLand stuff
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816-20 Potomac
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On the heels of the $9.5 million grant received from HUD last week to help kick-start the second phase of Capitol Quarter townhouses, the DC Housing Authority and the city are working on a plan to to help pay more of the start-up costs associated with phase 3 of the redevelopment of Capper/Carrollsburg, in which four mixed-income apartment buildings will someday be constructed on blocks surrounding Canal Park. (See my Capper map for details and locations of these various phases.)|
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Canal Park
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According to this "narrative and schedule" that DCHA included with its application to HUD, the money would finance both public infrastructure and private site improvements needed to begin the construction of the second phase of the Capitol Quarter mixed-income townhouse development (the blocks between Third and Fourth south of I), which will have 163 units, 47 of which are public housing rental units (along with 60 market-rate, 39 workforce-rate, and 17 public housing home ownership units). The narrative indicates that the $55 million Capper PILOT bonds approved by the city council last year that were to fund the new community center and infrastructure improvements not only in the Phase II blocks but also on the north and east sides of Canal Park and over to the DPW site never made it into the bond market; attempts to secure loans from both Fannie Mae and Wachovia also were fruitless.
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Capper, Capitol Quarter
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