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Near Southeast DC Past News Items: Monument/Half St.
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In the Pipeline
Homewood Suites Hotel
82 I
Yards/Parcel A
Florida Rock
1244 South Capitol
Ballpark Square
Virginia Ave. Tunnel
New Douglass Bridge
Southeast Blvd.
Yards/Condo Project
Yards/Icon Theater
1333 M St.
New Barracks
Akridge/Half St.
Monument/Half St.
Capper Apts.
250 M St.
Nat'l Community Church
909 Half St.
Factory 202/Yards
Congressional Square
1000 South Capitol
SC1100
Completed
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)
Posts on Food/Fun
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181 Blog Posts Since 2003
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The Post's Jonathan O'Connell has posted a story today detailing the rise and fall of Monument Realty on Half Street--how the company snapped up parcel after parcel of land just north of the ballpark footprint during 2004 and 2005, how they spared no expense to market their holdings, and how just as they dug the hole for the residential portion of their project, the economy collapsed, taking with it Lehman Brothers, their big financial backer.
It also gets itno how it's now been sold to the MacFarlane/Lynch partnership, even though "Monument wanted to see the project through as well, but had its hands tied by the Lehman estate, which wanted to sell."
You may recognize some of the photos accompanying the piece, and I also cop to being the owner of all of the "swag" displayed in the article, thanks to attending various Monument shindigs over the years, and thanks also to being an unrepentant pack rat. I spent years holding onto t-shirts, brochures, and even trading cards all because "someday someone might want to see them." And that someday is today!
It's a good read, and I'd say that even if I hadn't provided some assistance.
Comments (4)
More posts: Development News, Monument/Half St.
 

The final installment of this week's Fence Peeking is a bit more haphazard. Let's start with looking on fences:
(Left) The new Parc Riverside signage has been hung along 1st Street by the sales trailer, though at least I have the River Parc signs recorded for posterity.
(Right) There's a bunch of new signage on the black fences along Half and N, presumably to at least in part draw attention away from the big hole in the ground behind them. One portion of the sign is a map of places to see things, eat food, drink beverages, and spend money, placed by the Capitol Riverfront BID. And it helpfully provides confirmation of the Unleashed by Petco coming to the Boilermaker Shops, and lets the cat out of the bag (ahem) that the pet hospital at Twelve12 will be a Banfield.
(Left) While we wait to see when Willie's is going to open, I did at least finally get a photo of the ready-to-go interior. (Yeah, yeah, the glass isn't technically a fence, but work with me here.)
(Right) Speaking of the spiffy new signage on the black fences across from the ballpark, I finally got an updated photo from on high of exactly what those fences are hiding. Let's imagine the potential interim uses while Jair Lynch and MacFarlane Partners decide what to build -- Urban campground? ATV track? Wildlife sanctuary?
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More posts: banfield, Monument/Half St., photos, Retail, Toll Brothers Lots, unleashed, willies
 

A few tidbits to throw your way, but first let's start off with one of my favorite photos, taken eight years ago yesterday while standing at 1st and M. You can see more shots from Sept. 17, 2006 in the archive.
* UNLEASHED BY PETCO: It was rumored back in May, and there's still been no official announcement from Forest City, but a building permit issued last week seems to be the final confirmation that Unleashed by Petco is coming to the Boilermaker Shops.
* CSX: The Post reports that "It could be a few weeks before the Federal Highway Administration releases a decision on the proposed expansion of the Virginia Avenue Tunnel in Southeast Washington." The "Record of Decision" hasn't yet been finalized. In the meantime, the Committee of 100 has let it be known that any decision short of an indefinite delay will result in a lawsuit. (Shocker!)
* HALF STREET: WBJ talks to new Half Street poobah Jair Lynch about his group's plans for the Half Street hole, now that they've bought it from Monument Realty. "While the project is expected to remain a mix of residential, retail and hotel, Lynch said he is now considering condos in addition to apartments, tweaking unit sizes, adding green features and amenities and bringing in a 'completely different retail mix.'" (Longtime area observers note that in Monument's original plans, the two residential buildings at the south end of the block were planned to be condos and apartments. And of course it's easy to "change" the retail mix when there isn't any to begin with.) They hope to get underway by 2016, WBJ says.
* MLB LATE NIGHT WITH METRO: WTOP: "Although the Washington Nationals have clinched the NL East, the team has not reached a deal with Metro to keep trains running past midnight during home playoff games." The Metro policy is that the Nationals would have to pay at $29,500 deposit to stay open an extra hour during the week; some of you may remember that back in 2012, the Nats did not step forward to pay, so Livingsocial offered to foot the bill.
 

Documents filed today show that Monument Realty, which sunk its teeth whole-heartedly into the Nationals Park-fueled land rush of 2004 and 2005, is exiting Half Street, with the sale of the company's two remaining parcels, best known to baseball fans and residents as the location since 2009 of the big hole in the ground on the east side of the street.
The buyer of the properties is officially Half Street Residential PJV, LLC, which the Washington Business Journal is reporting is a new partnership of MacFarlane Partners and Jair Lynch Development Partners.
WBJ: "MacFarlane already owned a 50 percent stake in the residential portion of Half Street. With local partner Jair Lynch, MacFarlane essentially bought out Monument and Lehman," with an expectation that the "new team will bring this languishing project to life."
The price of the sale is roughly $12.5 million. (UPDATE, 9/17): A follow-up WBJ story on the new owners' plans for the site says that a check was cut for $34 million.
Monument had planned a hotel and 320 units of residential on this site, and went ahead and dug the hole back in 2007 and 2008 as it built the 55 M Street office building at the north end of the block. But the economy tanked, and the "Monument Valley" hole languished (and became quite the urban forest).
This move isn't exactly a surprise: it had looked a few months ago like something was coming, as Lehman had taken back a portion of this stretch of Half Street just as it had with two other Monument properties that quickly ended up being sold: the 50 M site that is soon to be a Homewood Suites, and the lot on the northeast corner of South Capitol and N that JBG is now planning to develop as a residential building.
Monument now is involved in only one property in the neighborhood, the old Domino's site at South Capitol and M that they made initial moves to develop as an office building a few years ago. (But, in what may or may not mean anything, there have been permits issued in recent days for soil borings on that site, which is often a precursor to a sale. I'm not saying--I'm just saying.)
This is the end of quite a chapter in the neighborhood's rise--and the beginning of a new round of toe-tapping about progress on what was once envisioned to be one of the liveliest stretches of street in town. It will be interesting to see how quickly MacFarlane/Lynch move, and what their new plans may be, (And, for that matter, whether Akridge is currently making any moves on its side of Half Street.)
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More posts: Development News, Monument/Half St.
 

It's a lot of building to knock down, but a milestone of sorts was reached late last week at Building 213 when the demolition punched through from the west to the east, splitting the remnants in two and giving a peek at the vistas to come once it all comes tumbling down.
So I've added a bunch of new photos of the destruction to my Yards Parcel A page, and I also think the destruction is now far enough along to add the 171st entry to my Demolished Buildings Gallery.
In addition, I've scoured the archives and have come up with more than more than 40 vantage points where Spooky Central has been visible from and will be for just a bit longer.
But if you want a few more moments of the building not looking torn apart, go stand about halfway between M and N on first and look eastward above the "Event Parking" sign, as I did above. (I didn't even notice this quirk until I got home and looked at the photo.)
A few blocks away another man-made creation that won't be much lamented is being dismantled, as seen here in its before-and-after, with the Park Chelsea now looming:
Then there's some signage I have needed to officially record, that of the Subway Café and the Big Stick at 20 M (which got its tenant layout building permit approved recently), and the new Homewood Suites banner at 50 M. Plus there's now a tower crane at the Hampton Inn site.
To bring some green to the page, I'll close with this lovely photo of the increasingly lush Monument Valley just north of the ballpark.
And I'll have an even more interesting batch of photos coming soon.
(Click on any of these to launch a mini-slideshow of all of them.)
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More posts: 20 M, Homewood Suites, the Big Stick, Monument/Half St., photos, The Yards, Parcel A/Yards
 

Documents filed with the Recorder of Deeds within the past few months show that Lehman Brothers has executed the necessary legal and financial maneuvers to take sole ownership of a portion of the infamous hole in the ground on Half Street just north of Nats Park (which I can't believe I didn't until this instant ever think to call Monument Valley).
The site, on the northern part of the hole and just south of 55 M Street, was going to be the hotel portion of Monument Realty's block-long Half Street development.
This is the third time in the past few years that Lehman has taken ownership of property in Monument's once-vast holdings just north of the ballpark. Lehman was one of Monument's investment partners on these properties, in addition to being the lender.
In both of the other cases, the "foreclosure" by Lehman ended up being a precursor to the sale of the property--both at 50 M, bought by investors in May 2013 and now the site of the planned Homewood Suites hotel, and at 1244 South Capitol, bought by JBG in late 2013 and likely to be a residential project. (The company's 55 M Street office building was sold in late 2013 without a Lehman takeback.)
Whether this is another precursor to another sale, we will have to see.
As of now, Monument retains an ownership stake in only two properties in the Ballpark District: the southern half of Monument Valley, where a residential project was planned, and the old Domino's site at One M Street, where back in 2012 Monument had been starting to shepherd an office project through zoning.
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More posts: Development News, Monument/Half St.
 

It's been announced that 55 M Street, the 265,000-square-foot office building at Half and M on top of the Navy Yard Metro station just north of Nationals Park, has been sold by Monument Realty (and its investment partners Lehman Brothers and McFarlane Partners) to Hines Global REIT, for an as-yet undisclosed amount.
Open since 2009, 55 M has 89 percent of its space currently leased, with tenants including the District Department of Transportation and the Federal Aviation Administration. The ground-floor retail spaces remain empty except for Bank of America on the building's northeast corner, but perhaps now that the sale has been completed, some movement on the other spaces may be seen.
The building was to be the first phase of Monument's Half Street development when construction began on it in 2007, but the Great Economic Difficulties of the late 00's stopped the subsequent phases in their tracks, leaving only the large hole that was dug for them at the same time 55 M was being built. Monument still has on the boards its Half Street plans for a 200-room hotel and 350 units of residential, though with no announced timeline.
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More posts: 55 M St., Development News, Monument/Half St.
 

Readers are reporting that, on schedule, the new Bank of America branch in the ground floor of 55 M Street opened today. The BoA web site also now lists it as well, though it doesn't include the lobby hours yet. It's still called the "Waterfront" branch, since this is technically a move of the branch that was at 4th and M SW for many years, in the old Waterside Mall/new Waterfront development.
This is also the first retail tenant in 55 M, the building right on top of the west entrance of the Navy Yard Metro station.
If I were a good blogger, I'd run over there and get a photo, but, given that this is the fourth bank to open in the neighborhood, my Financial Services Excitement Meter is not exactly exploding off the charts. (UPDATE: But the Twitterverse comes through and makes up for my malaise.)
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More posts: 55 M St., Monument/Half St., Retail
 

A reader reports that a sign has been posted on the ATM at the Bank of America branch/trailer at 4th and M, SW, alerting users that the location will be closing on July 20, reopening in Southeast on July 23.
We already knew that BoA is coming to 55 M Street, the building on top of the Half Street entrance to the Navy Yard-NotYetBallpark Metro station, and so now there would indeed seem to be an actual date attached to the arrival. A permit application was submitted to DCRA last week for a Bank of America sign at 55 M, in case a flyer on a machine isn't quite official enough.
When it opens, it will join Capital One (ex-Chevy Chase), Wells Fargo (ex-Wachovia), and PNC SunTrust in blanketing Near Southeast with banking options. (Wherefore art thou, Citibank?)
UPDATE: Oh, I guess there's already a Navy Yard BoA branch. So, all you "Navy Yard residents", feel free to try to use that one. {tee-hee}
UPDATE II: Oops, wrong bank with orange-based color scheme. Fixed PNC to SunTrust. And, also, it looks like Navy Yard-NotYetBallpark has become Navy Yard-Ballpark, at least on the WMATA web site.
UPDATE III: The sign at the SW branch, for those who want visual proof.
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More posts: 55 M St., Monument/Half St., Retail
 

So many Tweets recently, such small items. Let's see how short I can keep them:
* Justin's Cafe is looking to have a block party on Saturday, April 14 (when the Nats and the Reds play at 4:05 pm), and ANC 6D has supported the request to close 1st Street between K and L. (Thanks to SWill for, once again, picking up my slack.) Still probably some bureaucratic hoops to jump through before all is confirmed. This was moved from Opening Day so it would be on a weekend, Will says,
* Looks like DPW's trucks have departed a couple weeks earlier than expected from the agency's longtime home at New Jersey and K, although all the lights may not be turned out just yet. Demolition is in the cards, though some environmental abatement has to happen first.
* New striping and bike lanes were installed Monday on I Street SE between South Capitol and New Jersey.
* Start starving yourself now to prepare for the Red Porch's eight-pound "StrasBurger."
* Photographic evidence of fences down at the old Bullpen, clearing the way for Fairgrounds.
* Bank of America is now building out its new space in the ground floor of 55 M south of the Metro entrance, informed sources say. (They're closing their Southwest location in June.)
* Could DC United be setting up shop just a few blocks up Potomac Avenue from Nationals Park?
* Near Southeast gets off relatively easy in this Sunday's National Marathon Street Closure Sweepstakes (just South Capitol south of L, and the Douglass Bridge).
Anything else going on these days? Besides that sandwich shop opening?
UPDATE: Let's add the elephant parade! Starting tonight at 8 pm, on the southern edge of Garfield Park at the train tracks where Virginia crosses under New Jersey, says WTOP.
UPDATE II: And, from the Hill is Home, a Q&A with ANC commissioner David Garber.
UPDATE III: I sent a lackey down to Potbelly to get a few opening-day shots. Hope he's not expecting to get reimbursed for his lunch.
 

It looks like Monument Realty's office building at 55 M Street may be close to getting its first retail tenant, as they have confirmed to me that they are in negotiations with Bank of America for a branch office in one of 55 M's ground-floor spaces, on top of the west entrance to the Navy Yard Metro station, just north of Nationals Park.
BoA is apparently leaving its swank construction-trailer digs at 4th and M SW this spring, and so is on the hunt for a new close-by home. Some workers at that branch have apparently told patrons that they are definitely moving to 55 M in June, but for now we'll go with Monument's statement that things are still in the negotiating phase.
If it comes to pass, BoA would be the fourth bank to open a branch in the neighborhood. (My own bank not being among them, alas.)
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More posts: 55 M St., Monument/Half St., Retail
 

I've tried over the past few months to clampdown on runaway Tidbits posts, but these are some pretty small tidbits, so I think I'll let them through:
* Douglass Bridge: The Feds have "freed up" $68 million from previously appropriate funds to allow DC to start buying up right-of-way land for the new South Capitol Street/Douglass Bridge. NBC4 quotes DDOT chief Terry Bellamy as saying "If I had my way and we had the money, we could possibly see a new bridge in about six to seven years." But, considering they're looking for $800 million for not just the bridge itself but all the associated improvements to South Capitol Street and its interchanges with I-395 and I-295, getting the rest of the money might be a little trickier.
* Half Street: According to the Post, Monument Realty and investment partner Victor MacFarlane "are now thinking about when to begin" developing the rest of their Half Street project. The southern portion of Monument's side of Half Street (the east side--you know, where the big hole in the ground is) was originally designed with both a hotel and a residential building. And there's still no word from Akridge on a start date for their side of Half Street (the Bullpen side).
* DPW Move: While the timeline for getting DPW into their new home on Okie St. NE and out of their New Jersey and K site has slipped (shocker!), things are still moving forward, and I'm hearing that they should be moved early in 2012. But this delay is not as yet impacting William C. Smith's plans for a new apartment building just to the north--various permits have recently been approved, and WCS expects to start some deep infrastructure work, along with some clearing and grading along New Jersey Avenue north of I, sometime in December. (But WCS needs DPW out before too long because a smidge of DPW land crosses what will eventually be the new I Street and onto the WCS property.)
* Wha?: Is it just me, or does this article seem like it was written in 2009? It's a bit odd to trot out version 83 of the "there's no food in Near Southeast" story when there are leases signed for at least 10 new eateries to open in the next 12 months: Lot 38 Espresso at the old Little Red Building site (Any Minute Now!), Potbelly and Kruba Thai in the Foundry Lofts by spring, the Park Tavern at Canal Park by summer, and six choices at the Boilermaker Shops by the end of 2012. Not to mention probably another couple places in the Lumber Shed, perhaps a big one at 100 M, and a Harris Teeter in 2013. But I still predict that, when the slew of What's Happening Around Nationals Park stories come pouring out in advance of Opening Day 2012, the focus will still be on the lack of movement along Half Street (see Tidbit #1).
* New Bridge: Don't forget the dedication ceremony for the Yards/Teague bridge on Tuesday at 1:30 pm on the Yards Park side of the bridge. In addition to the mayor and DC Water chief George Hawkins, the organizers are also expecting Eleanor Holmes Norton, Naval District Washington Commandant Rear Admiral Patrick Lorge, USDOT deputy secretary John Porcari--and the Racing Presidents!
 

A roundup:
* Friday is Bike to Work Day, with the Yards Park being one of the morning "pit stops," from 7 to 9 am. If you're interested in joining in the fun, you need to register.
* The Canal Park folks have recently begun using their Twitter account, CanalParkDC. An update on the park's progress was tweeted on Wednesday, though it probably wasn't what park fans want to read: "Rain delays, water in our excavation preventing pouring foundations. Very frustrating!"
* The Navy Yard has created a Twitter feed for its portion of the Anacostia Riverwalk, to alert people to planned closings. This is in addition to the web page they've set up for hours and information about the riverwalk.
(I've added both of these feeds to my Near Southeast Businesses/Organizations Twitter list, which displays all the latest tweets in real time on the JDLand home page, for those of you who have remained blissfully outside of the Twitter vortex.)
* Louisiana State Society is having its Crawfest at the Yards Park on Sunday (May 22), with 4200 pounds of boiled crawfish, 150 pounds of jambalaya, sausage, corn, and potatoes, Abita beer, Louisiana music, and more. Society members get in for $45 per person, while non-members can pay $55 to attend. (Tickets for children 12 and under are $15.)
* DDOT says that its move out of the Reeves Center to Monument Realty's office building at 55 M is almost complete.
* Speaking of 55 M, it was named "Best Urban Office over 150,000 SF" at the NAIOP Maryland/DC 9th Annual Awards of Excellence.
 

This was referenced in the flurry of stories on the company a few weeks ago, but Monument Realty has now officially announced that they have signed a 10-year 50,000-square-foot lease with the Federal Aviation Administration at 55 M Street, the building on top of the Navy Yard Metro station just north of Nationals Park. With this lease, DDOT's 150,000-square-foot lease signed last fall, and two other smaller tenants, the 275,000-square-foot building is now 85 percent leased, with only three smaller office suites remaining (as well as all of the building's ground-floor retail space).
The press release says that the FAA is expected to move into their new spaces on the 8th and 9th floors in April, and that DDOT is expected to complete its move to the fourth through seventh floors during the second quarter of the year.
As for the rest of the Monument Half Street project, which as designed includes a 200-room hotel and 332 residential units and plenty of ground-floor retail to the south of 55 M, the press release quotes executive vice president Douglas Olson as saying that they are"actively working to move forward with Monument's next phase of Half Street."
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More posts: 55 M St., Development News, Monument/Half St., officespace
 

Both the Washington Post and the Washington Business Journal (subscribers only) came out with stories this week chronicling the rise and fall and now re-rise of Monument Realty. They both describe Monument's high-flying ways during the real estate bubble of the early 2000s with "high-risk, high-return deals and an aggressive, cowboylike approach to development that rubbed the old guard the wrong way," followed by their near dissolution thanks to the collapse of their backer, Lehman Brothers. But thanks to some new deals around the region with different financing partners, Monument appears to be rebounding.
There's not been an announcement from Monument that I've seen, but the WBJ article says that Monument has signed the Federal Aviation Administration to a 55,000-square-foot lease at 55 M Street, which I believe would bring the building to about 90 percent leased. (At the time Monument announced their deal to lease 150,000 square feet to DDOT, they said the 275,000-square-foot building's office space was 70 percent leased.)
However, in detailing what it says are $500 million in new Monument projects around the Metro area leveraged from a $10 million deal with Atlas Capital Group, WBJ makes no mention of any intentions for construction to get underway on Monument's remaining Half Street plans just north of Nationals Park. The well-known hole in the ground, dug in 2007 when 55 M was built, is eventually supposed to be 330 residential units and a 200-room hotel, which you can see a rendering of on my project page or on Monument's Half Street web site. Monument also owns all of the land on the east side of South Capitol between M and N except for the self storage building, as well as the 50 M street lot on the northeast corner of Half and M.
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More posts: 55 M St., Development News, Monument/Half St., officespace
 

From City Paper's Housing Complex blog: "The Department of Real Estate Services tells me that Councilmember Marion Barry has dropped his disapproval resolution on the District Department of Transportation's move to 55 M Street SE, which momentarily put the whole thing in limbo. That means the move can go forward as planned, without having to wait until reconsideration by the Council in September."
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More posts: 55 M St., Monument/Half St., politics
 

Yesterday I posted about how the city council had until close of business to decide whether or not to slow down DDOT's planned move to 55 M Street, SE--and now I'm hearing that Marion Barry has filed a "disapproval notice" that does delay the DDOT move. (Apparently he did the same thing with the contract for the new headquarters for the Department of Employment Services.) There will now probably be some behind-the-scenes wrangling to convince Barry to withdraw his disapproval--once/if he does, the contract would then be considered immediately approved, and the move can proceed.
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More posts: 55 M St., Monument/Half St., politics
 

WBJ updates its story from a few months ago to basically say, yes, DDOT is still planning to move to 55 M Street, Monument Realty's building on top of the west entrance of the Navy Yard station. The city council has until close of business today (Wednesday) to decide if it wants to hold up the plans, and apparently the council's budget office is taking a close look at the lease, since it will cost DDOT about $6.9 million per year over 10 years to consolidate all of its workers in Near Southeast, compared to the $3.1 million it's paying now to lease space in multiple buildings.
With USDOT just two blocks to the east, M Street SE would turn into Transportation Row if DDOT does indeed come to 55 M.
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More posts: 55 M St., Development News, Monument/Half St., officespace
 

Oh, I've wanted to post this rumor for so long (and have hinted at it on Twitter) but never could bring myself to pull the trigger when I couldn't get anything out of Monument or DDOT or any first-level source. But, here's WBJ going where I wouldn't (subscribers only): "[The District Department of Transportation] has signed a letter of intent and is close to a deal on a 10-year lease for 150,000 square feet in Monument Realty's Half Street building at 55 M St. SE, according to sources." Neither Monument nor DDOT would confirm to WBJ either, with DDOT spokesman John LIsle quoted as saying, "We are hoping to move this year. It may be ambitious, but that is our goal."
Originally DDOT was going to move to the Anacostia Gateway project, but that was cancelled a few months ago. WBJ says that, between DDOT's space and existing tenant Sayres and Associates (who apparently will be adding another 10,000 square feet to their lease), 55 M will be about two-thirds leased.
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More posts: 55 M St., Development News, Monument/Half St., officespace
 

From today's Washington Business Journal, for subscribers only right now, "Capitol Riverfront builders turn to HUD in hard times," which talks about Forest City's previously reported dealings with the Department of Housing and Urban Development to back bonds for the affordable housing component of the stalled Foundry Lofts project. Forest City's Ramsey Meiser is quoted as saying, "We are at a stage now where we are going back and forth. We have submitted paperwork. They have replied with questions. Hopefully, we will be back on track no later than this summer." (This is a little different than some recent breathless reporting that said that the project "could" restart this month.) It would then take about a year to finish the 170-unit apartment building that will also have ground-floor retail space.
WBJ also says that Monument Realty is "mulling" Section 220 FHA mortgage insurance to help get the residential part of their Half Street project restarted. But the 220 option, which has been used elsewhere in DC (Yale Steam Laundry and Rhode Island Station), doesn't sound real close--"Monument Realty has not yet applied for the Section 220 program but says it has been investigating the possibility since last summer. Russell Hines, the company's president, said the program's per-unit cost limit is a challenge," although there is federal legislation pending that would increase the per-unit statute.
(And, one correction for WBJ--this sentence could use a little love: "The Forest City and Monument Realty housing projects are just a portion of a four-building development planned at Half Street." The Foundry Lofts building, part of the Yards, is four blocks away from Half Street. UPDATE: It's been corrected.)
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More posts: Foundry Lofts/Yards, Monument/Half St., The Yards
 
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