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Near Southeast DC Past News Items: 70/100 I
See JDLand's 70/100 I Project Page
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In the Pipeline
1244 South Capitol
One M/10 Van
Yards/Icon Theater
DC Water HQ
New Douglass Bridge
Yards/Parcel O
JBG/Akridge/Half St.
Lynch/Half St.
Chiller Site Condos
Yards/Parcel A
1333 M St.
Capper Apts.
250 M St.
New Marine Barracks
Nat'l Community Church
Factory 202/Yards
Congressional Square
1000 South Capitol
Southeast Blvd. ('15)
11th St. Bridges ('15)
Parc Riverside ('14)
Twelve12/Yards ('14)
Lumber Shed ('13)
Boilermaker Shops ('13)
Camden South Capitol ('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)
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77 Blog Posts Since 2003
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It's taken almost a year, but the sale of 70 I Street was completed this week, with public records showing that "70 Eye Street Acquisition LLC" paid $165.7 million for the 448-unit building developed by JPI and opened in 2008.
The other two buildings in the original JPI "Capitol Yards" lineup, 100 I and 909 New Jersey, were sold back in May for around $94 million each, but the 70 I sale took longer as tenants had attempted to purchase the property themselves (UPDATE: or at least to file that paperwork in order to then attempt to negotiate terms of sale more favorable to residents). I don't have this confirmed, but I am assuming that the 70 I LLC, like the other two, is "institutional investors advised by J.P. Morgan Asset Management," since the 70 I sale deed has Morgan as the mailing address for the LLC.
Like the other properties, 70 I will be managed now by Bozzuto, which, in a letter to tenants, also said that the name of the property once known as the Jefferson at Capitol Yards is now changed to "70 Capitol Yards." (This is why I always just keep with the addresses.)
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More posts: 70/100 I, Development News

A press release sent out on Tuesday is trumpeting the sales of two of the buildings in the "Capitol Yards" lineup, 909 New Jersey and the Axiom at 100 I Street, the completion of a pending deal that I first wrote about in January. However, back then, residents in Axiom's sibling, the Jefferson at 70 I, were also notified that their building was under contract, but that deal apparently didn't complete with the other two. The 448-unit Jefferson was the priciest of the three offers, at about $165 million, compared to about $94 million for the 245-unit Axiom and $95 million for the 237-unit 909.
Did the Jefferson's residents go out back with metal detectors and find the $165 million needed to purchase the property themselves? Or are there a few more i's to dot and t's to cross to finish the deal? Or is something else afoot?
In the 100 I and 909 New Jersey sales, the buyers are "institutional investors advised by J.P. Morgan Asset Management."
The three buildings were completed by JPI back in 2008 and 2009, but the recession hit the company hard and eventually two of its executives boltered to partner with folks from Akridge to form the Jefferson Apartment Group. But 70/100/909 apparently remained part of JPI's holdings, as did the empty lot at 23 I Street where JPI's fourth apartment building had been planned, until it was foreclosed upon and picked up by Ruben Companies in late 2009. The three buildings, completed in 2008 and 2009, have been managed by Greystar ever since JPI sold its property management division to the company.
UPDATE: I'm hearing chatter that residents of 70 I did form a tenant association to attempt to buy the building themselves, which then adds some additional time to the deal to allow the residents to find financing to match the initial offer. Anyone from the building want to chime in?
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More posts: 70/100 I, 909 New Jersey, Development News

Residents at three of the neighborhood's "new" apartment buildings--the Jefferson and Axiom at 70 and 100 I Street, and the 909 New Jersey Avenue building, branded together as "Capitol Yards"--are reporting the posting today of public notices, along with e-mails from management, announcing that the buildings are under contract to be sold.
Who is (are) the buyer(s)? As of now I've only seen the paperwork for 100 I (thanks to reader B.), which says that it's "100 Eye Street Acquisition LLC c/o J.P. Morgan Investment Management." UPDATE: Plus, via reader S., I hear the buyer for 909 New Jersey is, as suspected, "909 New Jersey Ave Acquisition LLC," and reader M. says that the buyer for 70 I is, you guessed it, "70 Eye Street Acquisition LLC."
So, as required by DC law, the buildings are now being offered for sale to the tenants, which happens "after the owner has accepted (ratified) a third party sale contract for the housing accommodation."
That paperwork says that the price of 100 I for any tenant organization that may form to purchase the 246-unit building would be $93,879,000; readers report that the number for 70 I (448 units) is about $165 million, and 909's price (237 units) is around $95 million, which presumably are all somewhere in the neighborhood of the contract sales prices.
Apparently the buildings went up for sale sometime over the summer (can't believe no one blabbed!), joining the Onyx on First apartment building a few blocks south on the sales block.
JPI East, which developed the three buildings during the high-flying mid-2000s, was already a wounded casualty of the Economic Difficulties when two of its executives took what was left of the company and partnered with folks from Akridge to form the Jefferson Apartment Group. But 70/100/909 apparently remained part of JPI's holdings, as did the empty lot at 23 I Street where JPI's fourth apartment building had been planned, until it was foreclosed upon and picked up by Ruben Companies in late 2009. The three buildings, completed in 2008 and 2009, have been managed by Greystar ever since JPI sold its property management division to the company.
I'm sure there's much more to be told, and I'm hoping this barebones blog post (written by a very bleary blogger back from an unexpected 36-hour road trip) will shake out a bit more info. If anyone from 909 NJ or 70 I wants to check the paperwork to see if the buyer listed is some similar variant to 100 I's LLC/JP Morgan entry, that'd be fab.
Also, if any tenant groups are planning to form and shake out their collective sofa cushions in search of $95 million or more, be sure to let me know.
UPDATE: I've reworked the opening of this post a bit after getting some additional information. And an e-mail going out to residents about the sale reminds tenants that "your tenancy, including your rent, lease term, and the services and amenities you receive, are governed by your lease."
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More posts: 70/100 I, 909 New Jersey, Development News, jpi

I'm just now coming across a Washington Post story entitled "Housing Area Pushing for Supermarket," which says that a group of residents "in a small triangle of Southeast Washington launched a 'supermarket project' yesterday to persuade a grocery chain to build a store in their neighborhood," with a planned petition drive looking to get 1,500 signatures.
But, of course, I'm yanking your chain, since this Post article is dated Dec. 16, 1965.
The group, the "Community Commitee Group," planned to visit the regional offices of Safeway, Giant, and Kroger to present the case that the residents of the area bounded by 8th, Virginia, M, and New Jersey had only two corner groceries, with the closest supermarket being at Seventh and G, SE, which was too far for the "aged who live in the Carrollsburg Dwellings project at Fourth and M." Also, because many of the residents in the area qualified for food stamps, they needed to be able to shop at a full supermarket, where the stamps would stretch farther.
The group "also hopes to interest a chain drug store and a combination dry cleaning-shoe repair shop to locate next to the proposed supermarket." Their suggested locations? "The west side of New Jersey Avenue between K and L Streets to replace some condemned buildings [ahem], the Washington Navy Yard parking lot on 2nd Street between M and I Streets [ahem], and the Lennox School annex at 4th and M Streets [ahem]."
In the meantime, while you're mourning the fact that no progress has been made in the brief 45 years since this article was published, you can think about another big development that Near Southeast missed out on: In the early 1990s the Federal Bureau of Prisons was looking for a location for a new 1,000-bed federal detention center, and one of the spots it considered was on the north side of I Street between South Capitol and New Jersey, the spot that's now home to the Axiom and Jefferson apartment buildings. And McDonald's. And Splash. (The other possible locations were in Northeast, but after battles with the National Capital Planning Commission and thanks to some pretty staunch opposition by city officials and residents, the Justice Department scrapped the plans in 1993.)

I am passing this message from a reader along without comment (though I may try to get some photos of the panels in question later today, which are on I Street between Half and First), to throw open the floor to the folks who live and work in Near Southeast (or who are thinking about it). What's your opinion of this reader's concerns? Leave your thoughts in the comments:
"Just wondering what is going on with the grafitti panels across from the Axiom/Jefferson building. I am trying to convince a couple of friends to move into the building, but this is making it difficult. Yesterday, one of these friends and I walked over to the Jefferson building. We immediately saw these panels since they are very prominent and look like grafitti on NYC subway cars back in the late 80s. My friend then said that she feels unconfortable moving to an area where there is grafitti all over the place. I am also noticing more and more grafitti in the neighborhood and this doesn't help with convincing people to move to this area."
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More posts: 70/100 I, jpi

It certainly doesn't feel like it's the case, so you might be surprised to find out that the District of Columbia thinks that Near Southeast is worth about $1.5 billion more than it was a year ago, at least in terms of the latest tax assessments now available. With a total assessment last year of around $4.5 billion for the blocks bounded by the SE Freeway, South Capitol Street, and the Anacostia River (to just west of the Sousa Bridge), this bump up edges the neighborhood's "worth" to just over $6 billion.
A chunk of that change is coming from the first official assessment of Nationals Park, valued at $999,982,800 (geez, Mr. Tax Assessor, just round it to $1 billion and be done with it), a rise of nearly $650 million from the assessed value of just the land last year. Blocks that saw projects get completed in 2008 (70/100 I, 100 M and Onyx, and 55 M) got hefty bumps in their valuations, while other spots (20 M, the Capper blocks, USDOT, Maritime Plaza) saw their assessments go down.
I created a report comparing 2008 and 2009's numbers overall and by block, though I wouldn't swear to the exactness of each number down to the penny (but they're probably close enough).
As for the trend of the overall valuation of Near Southeast over the past nine years, it's still *up*:
2001: $221,096,652
2002: $428,312,487
2003: $640,209,280
2004: $771,006,345
2005: $894,123,520
2006: $1,781,481,650
2007: $2,539,618,280
2008: $4,467,137,880
2009: $6,004,334,490
UPDATE: Here's a link to a map of the square numbers, in case a bit more visual assistance would be helpful.

I've been out of town for most of the week, so posting was kind of haphazard. Here's some additional items, starting with news from just this morning:
* Reader atweber passes the news via Twitter that workers have told him that the Third and K Market will be opening next month. So, those wishing to stay in the neighborhood to shop won't have to use CVS as their "supermarket." (And the new windows and door are so pretty!)
* Not officially confirmed, but the WashTimes is reporting that President Obama has agreed to throw out the first pitch at the April 13 Nationals home opener.
* Via the BID's latest newsletter: the little beige building at 900 M Street that once was a Hudson car dealer (and more recently a dialysis center) is scheduled to open in April in its new incarnation as a retail building. It's said that the owner has received one letter of intent from an undisclosed tenant. (Just speculating, but maybe it's the Dunkin Donuts franchise that was reportedly looking in the Navy Yard area?)
* The BID has also announced the lineup for this summer's lunchtime concert series at the plaza behind USDOT, though you have to page through their calendar to see the schedule of artists. It runs on Wednesdays at noon from May 20 through Sept. 16.
* When I posted about FiOS internet at 70/100 I and asked "is this news?", I should have referenced this post from last summer, about the "First Community to Offer FiOS" sign on Half Street, where we discussed that FiOS internet was already listed as available at those addresses on the Verizon web site.
* The day after I posted about the calls from Nancy Pelosi and Harry Reid to convert the Capitol Power Plant from coal to natural gas, ABC7 reported that "several thousand demonstrators "urged Congress to pass legislation to reduce greenhouse gases, and they targeted the government's own Capitol power plant as a symbol of the problem. An enthusiastic crowd of mostly young people marched from a park near the Capitol to the power plant several blocks away, where they planned to block entrances and were prepared to get arrested. The group chanted along the way, 'We don't want the world to boil, no coal, no oil!'" Darryl Hannah and Robert Kennedy Jr. were among the protestors. When they arrived at the power plant they were met with "about a dozen" pro-coal counter-demonstrators.
* On Thursday the Post looked at how the office building development biz in DC has all but ground to a halt: "Not a single office building has been started in the District since October, a sign that the slowdown that began in the far-out suburbs has now reached prime city locations." The Hood (surprisingly) isn't mentioned, though WBJ reported a few months back that Donohoe was looking for (but unable to secure) funding for 1111 New Jersey.

I didn't think it was actually news that 70 and 100 I Street have FiOS internet, but this announcement today from Verizon could be read like it is. "Residents at two new apartment buildings in this city's revitalized Capitol Riverfront neighborhood now have access to Verizon's FiOS Internet, the most advanced broadband service available." Maybe the real lede is this: "The service also will be available this spring in a third building [909 New Jersey] currently under construction in the same neighborhood." As for the more desperately awaited FiOS TV service, no word on *when*: "JPI's buildings in Washington -- and other single- and multifamily residences throughout the District -- will also ultimately have access to Verizon's award-winning FiOS TV as the company rolls out the service over the next few years under a recently approved franchise agreement."
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More posts: 70/100 I, 909 New Jersey, jpi

* On Friday at 10:30 am the mayor will be hosting a groundbreaking at Diamond Teague Park; construction started back in December (photos on my project page from a few weeks ago show the piers and ramps around the pumphouse have already been dismantled). The timeline as described to me at the end of January is that the new piers are to be ready by Opening Day, with the landscaping and land-based improvements to be completed by July; we'll see if those dates are still operative at tomorrow's event.
* The Capitol Riverfront BID newsletter says that JPI's 909 New Jersey is "set to open ahead of schedule in April." The "909 at Capitol Yards" official web site has floor plans and more information.
* Also from the BID newsletter (which isn't posted on their web site, otherwise I'd link to it), some occupancy numbers for the three buildings participating in this weekend's "Luck of the Draw" art extravaganza: Velocity has sold 52 of its 200 units (which is still right around the 25-percent mark reported back in July of last year); 100 I Street is 25 percent leased (it was reported at around 16 percent leased in December), and Onyx on First is 27 percent leased (after having been 8 percent leased in December).
* The BID also has the list of public events over the next few weeks at the Navy Yard. (I used to be on a mailing list for these and would add them to my calendar, but that ceased a while ago and the Navy Museum's own web site calendar hasn't been updated since last year.)
* Off-topic, but DC United says they're moving to Prince George's County.
* And Now, Anacostia has more on the legislation introduced today by Tommy Wells to place a five-cent fee on paper and plastic bags with the goal of helping to clean up the Anacostia River. (There's also a web site,

From a just-sent-out press release, more details on the "Luck of the Draw Art and Music Event" being put on by Artomatic, Pink Line Project, and the Capitol Riverfront BID in the neighborhood this weekend:
"Luck of the Draw will transform selected units, lounges, courtyards and the parking lots at Velocity Condominium, Axiom at Capitol Yards and Onyx on First residential buildings with photography, installation art, graffiti artists, live music, DJs and dancing to create a threeday neighborhood art and entertainment event. Start the night at the Velocity Condominium's entertainment tent on Half Street between L St and K St SE, and then head over to Axiom at Capitol Yards at 100 I (Eye) St SE and Onyx on First at 1100 First St SE. Draw playing cards at each location and, in traditional Washington, DC style, barter, trade and negotiate with others for the best 5-card poker hand to enter a raffle and win an iPod Nano. Beverages and snacks will be available at the venues as well."
It's free and open to the public. Hours are 6 pm to 10 pm on Friday and Saturday (the 13th and 14th) and 2pm to 6 pm on Sunday the 15th.
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