I think I Twittered
a few days back about a couple of Monument Realty-requested building permits recently approved by the city for construction of a three-story underground garage in the 1200 block of Half Street. I wasn't sure whether this was just Monument getting its bureaucratic ducks in a row, or if it's an indication of movement on the south end of Monument's Half Street project, where a hotel and 340 units
of residential are slated to be built just past the getting-close-to-completed 55 M
Then, a few correspondents wrote in today to mention seeing the delivery of a construction trailer nearby to the site, along with a new "Bovis Lend Lease
" sign hung on the fence at Half and N. Does this mean construction is about to commence? I've sent a message to Monument, but haven't heard back yet. In the meantime, there's always the Half Street Cam
to keep an eye on possible action in that big hole in the ground.
A few folks have also written in about today's WBJ piece
on the impact of Lehman Brothers's demise on various projects in the DC area, which mentions that Lehman holds an interest in Monument's Half Street project. This starts to get way above my pay grade, but there are some "Certificate of Satisfaction" land records from the mid-August where Monument appears to have paid off two "purchase money deed of trusts" held by Lehman totaling a little more than $23 million for lots on the east side of Half Street between M and N. (It then did the same a few weeks later for its property on the northwest corner of Half and N, which it then sold to Akridge
.) So, perhaps Monument has disentangled itself from Lehman on these properties? (Like I said, this is totally out of my comfort zone, so if anyone wants to explain further or correct me, please drop me a line
As always, we shall see....
Sometimes, the tea leaves aren't quite saying what they seem to be. Monument tells me that while they are "hoping" to begin the hotel/residential project by the end of the year, the movement seen at Half and N over the past few days is for work related to the office building and other improvements (not defined) on Half Street (perhaps the public space stuff
I've been writing about).