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(thanks to reader C for the tip) If you are desperate to own the nine lots along Potomac Avenue, Ninth, and L that were foreclosed on earlier this year, you've got a second shot. They were picked up at auction in October for $2.461 million, but apparently that sale has fallen through, because the lots are once again on the Alex Cooper Auctioneers web site, scheduled to be auctioned again on January 21. The properties were owned by ICP Partners, who defaulted on a $2.3 million loan in 2009. ICP tried hard earlier this year to drum up interest in these lotsplus the gray building at Eighth and Potomac that houses Quiznos (which is not part of this foreclosure), after a previous sale attempt in 2008 went nowhere. ICP paid $9 million for all 10 properties in 2006.
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* The nine lots on Potomac Avenue, Ninth Street, and L Street formerly owned by ICP Partners were sold at auction on Tuesday; according to the auctioneer's web site, they went for $2.461 million. (The defaulted loan was for about $2.3 million.) I don't know yet who the buyer was. ICP still owns the gray building at Eighth and Potomac that houses the Quizno's.
* Metro is doing a ton of work this holiday weekend, which includes the closing of the Waterfront and Archives stations on the Green Line. Tommy Wells's blog has the memo that spells out what this means for Green Line riders. The short version? Walk to Capitol South! (UPDATE: The WMATA version of the memo also has a nice graphic.)
* Nationals Park beats out FedEx Field and the Verizon Center as the top location for political fundraising events, says The Hill.
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A few changes and confirmations to note:
* It appears that the foreclosure auction of nine lots along Potomac Avenue and Ninth Street is going forward, scheduled for 12:15 pm tomorrow (Tuesday, Oct. 6) at the Alex Cooper offices.
* From The BID: "Due to lowering fall temperatures, the BID has decided to cancel the rescheduled outdoor showing of Star Wars this Thursday, October 8th."
* And the Lower Eighth Street Visioning Community Input meetings originally scheduled for Oct. 7 have been moved to Oct. 20, at 8:30 am and 7 pm.
These items and more appear on my Events Calendar....
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More posts: 816-20 Potomac, Capitol Riverfront BID, 8th Street
 

On Sept. 10 a Notice of Foreclosure Sale was filed for the two now-vacant parcels of land on the southwest corner of Half and I streets where the Wendy's used to stand. (Note that this doesn't include the adjoining Exxon land.) The lots, totalling about 47,000 square feet, were bought in July of 2007 by JPI for $28.6 million, with the intent of building 23 I Street, the fourth of JPI's "Capitol Yards" residential buildings (along with 70/100 I and 909 New Jersey). JPI owes $25.1 million on the loan, which came due on Aug. 1 and which is held by Ruben Companies, owners of 1100 South Capitol Street and 1101 across the street. The foreclosure sale is scheduled for Oct. 13.
JPI East pretty much fell apart over the past two years, with its principals taking what was left and forming a new company in June with bigwigs at Akridge; stories at the time mentioned their continued stake in 70/100/909, but said nothing about 23 I.
Another, smaller commercial foreclosure is happening further east, where nine parcels owned by ICP Partners along Potomac Avenue between Eighth and Ninth (including the brown boarded-up apartment building at Ninth and its parking lot) received a notice of foreclosure on Sept. 4, with a debt of $2.3 million on the properties. ICP tried hard earlier this year to drum up interest in these lots plus the gray building at Eighth and Potomac that houses Quiznos (which is not part of this foreclosure), after a previous sale attempt in 2008 went nowhere. ICP paid $9 million for all 10 properties in 2006; this foreclosure sale is scheduled for Oct. 6. (The properties are also on the city's September Tax Sale list.)
Whether the properties will actually go on the block, or if deals will be struck or lawsuits filed in advance of the sale dates, remains to be seen, but foreclosures are about to be a big part of the commercial real estate landscape throughout the US. (Spend a few days reading Calculated Risk if you want some insights into the predicted onslaught.)
As for the neighborhood's other "distressed" properties, Opus East's 100 M and 1015 Half office buildings are part of the company's liquidation proceedings, with rumors flying but no news of new owners yet. And the empty lot in the 1000 block of Seventh Street (across from the Marines), where a developer had been planning an apartment building, was sold in late July for $400,000 after a foreclosure; it had been purchased along with the two townhouses alongside it for $1.25 million in 2004. One townhouse was subsequently sold, the other was foreclosed on as well, though so far no evidence of a sale has turned up.
 

All sorts of tidbits came down the pike in the past 24 hours. In no particular order:
* I didn't make Tuesday night's Anacostia Waterfront Forum, but the presentation slides ("Economics of Developing the Anacostia River") have been posted. The slides have a good batch of economic data and detail for those interested; it's estimated that there could be nearly $6.7 billion in public investment along the river over the next three decades. In addition, the February forum is now available via streaming video, and the next forum has been scheduled for April 21, with the topic being "Green Waterfront, Green Jobs, Green Living in a Green DC." (The March "Waterfront Watch" newsletter has these additional tidbits, plus stories on the DC streetcar project and the Diamond Teague Park groundbreaking.)
* The WashTimes's Tim Lemke gets a first peek (along with suiteholders) of what new concessionaire Levy Restaurants might have in store for Nationals Park this season.
* Via the eckington blog, a list of the "shovel-ready" transportation projects in the district being funded by ARRA (aka "the stimulus package"). Apparently the demolition of the ramps connecting the 11th Street Bridges and RFK were on the request list, but didn't make the final cut. DDOT's been saying for a while that this demolition would happen Any Minute Now. (Read more about DC and the stimulus package at recovery.dc.gov.)
* Back in December, the owners of the 810/816/820 Potomac Avenue properties (the building that houses Quizno's, the abandoned apartment building, and the space between) announced a sealed bid sale for the lots. While some bids have been submitted (interest from hotels keeps getting mentioned in the communiques I've received from the landowner), the original March 15 deadline has been extended by another 30 days.
* A link that I saw this morning that I've subsequently lost says that the Circulator route replacing the N22 from Union Station to New Jersey and M will begin on March 30.
* Two readers reported that the 55 M construction cam has been turned off. For the first time since 2006, there are no active web cams in the neighborhood. Waaah!
* Another reader reported that the sign put up in 2006 at the corner of Second and M advertising 250 M Street ("Delivery 2008") has been replaced with a new sign, minus any delivery date.
* I know that it's been a *long* time since I've posted new photos. I had grand thoughts of going out this morning, until I looked at the radar. I'm hoping to take some this weekend, though I have a very tricky schedule to work around. But at least know that I'm now feeling guilty about it.
 

* From Tommy Wells:, an announcement of a Southwest Community Job Fair for Positions at Nationals Park, on Tuesday, March 3, from noon to 8 pm at the King-Greenleaf Recreation Center at 201 N St., SW. Applicants must be 18 or older; see the announcement for additional details.
* ICP Partners, the owners of the properties along Potomac Avenue between Eighth and Ninth, sent out a press release this week to announce that the sealed bid sale is "producing robust activity" in advance of its March 15 deadline: "The inquiries from various users for the site include a Navy Yard focused hotel and apartments, University Campus, retail and offices, and a childcare center for Navy Yard employees." They also put out a press release earlier this month to announce they had "signed [letters of intent] with a couple of the largest hospitality companies in the world to evaluate the feasibility of developing and managing hotels in certain urban markets, including 820 Potomac Avenue in SE Washington, DC."
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More posts: 816-20 Potomac, 8th Street, Nationals Park
 

* The folks at Barracks Row Main Street have passed along the news that today the chain link fences are being removed from around the parking lot under the Southeast Freeway at Eighth and I. New lighting has been installed, and once the parking meters and striping are complete, this lot that was formerly restricted to use by the Marines will become a 60-space public parking lot.
* I didn't make the Anacostia Waterfront Forum meeting last night; hopefully the DDOT folks will post any slides or other materials on the Anacostia Waterfront web site. However, yesterday WAMU did two reports on the initiative, with interviews with many of the people scheduled to speak at the forum: you can hear them here. (And, a PS to DDOT: it might not be a bad idea to have the old AWC URL redirect to the new web site instead of dc.gov.)
* A reminder that tomorrow (Thursday) is the WMATA public hearing on decommissioning the N22 Union Station/Eastern Market/Navy Yard bus line, so that DC can replace it with a shiny red Circulator bus. It's at 6:30 pm at Metro's headquarters, 600 Fifth St., NW.
* (h/t G St.) I have to admit I found this pretty funny, but only because I've been lucky enough to never discuss dog parks, nor have I come up with a "ridiculous acronym" for the neighborhood. (Though goodness knows plenty of other people are trying.) Plus, I was born on Capitol Hill, and really am a "DC Lifer." Nyaaah!
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More posts: 816-20 Potomac, circulator, 8th Street, Metro/WMATA
 

I've received a press release from ICP Partners, the folks who own the properties along Potomac Avenue between Eighth and Ninth (just north of M Street). Quoting: "The ICP Group, Inc. announces today that it will create an urban hotel index fund that will focus on developing and operating hotels in U.S emerging markets. As a benchmark, ICP has signed [letters of intent] with a couple of the largest hospitality companies in the world to evaluate the feasibility of developing and managing hotels in certain urban markets, including 820 Potomac Avenue in SE Washington, DC." This would be on the eastern part of the Potomac Avenue stretch of the block, the parking lot that wraps around onto Ninth Street. No word on who the hospitality companies are. Some may remember that this land (along with the building at Eighth and Potomac where Quizno's resides in the ground floor) was put up for sale in a sealed bid process back in December. More as I get it.
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The owners of the series of lots along Potomac Avenue between Eighth and Ninth have announced a Sealed Bid Sale for the properties, with a due date of March 15, 2009. The offering, which includes the building at Eighth and Potomac where the Quizno's is located, the boarded-up brown apartment building at Ninth and Potomac, and all the land in between (totaling .81 acre), is being handled by an affiliate of Lincoln Property Company. The current owners are the ICP Group, which purchased all these properties in early 2006 for $9 million, and had put them on the market earlier this year, apparently without success. ICP are also the folks who tried to get the Admiral Condo project off the ground at Eighth and Virginia, but are now disentangling themselves from that project (now an office development) as well.
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The buildings along Potomac Avenue between Eighth and Ninth streets--the white corner building that houses Quizno's (810 Potomac) and the boarded-up brown brick apartment building next door at Ninth and Potomac--are now up for sale (asking price not listed). The current owners, ICP Partners, purchased the properties in February 2006 for $9 million; they're currently assessed at around $6.5 million. These owners are part of the group that has been trying to develop 801 Virginia Avenue since 2005--and I imagine it's a sign of what might be happening with that project that the splashy AdmiralCondo.com web site that they launched back in August is now gone. Perhaps someone with better access to commercial property listings than I have might want to peek and see if the 801 Virginia lot (0929 0007) is up for sale as well?
(I should also note that the Dogma lot on the *other* end of the block from the Admiral, at 821 Virginia, is apparently for sale, for $4 million. Dogma's lease runs through 2014.)
UPDATE: Thanks to reader A. for letting me know that the 801 Virginia lot is indeed listed for sale, for $4.5 million.
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