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Near Southeast DC Past News Items: Monument Valley/Half St.
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Thompson Hotel ('20)
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Novel South Capitol ('19)
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Virginia Ave. Tunnel ('19)
99 M ('18)
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1221 Van ('18)
District Winery ('17)
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One Hill South ('17)
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ORE 82 ('16)
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Camden South Cap. ('13)
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Capitol Quarter ('12)
225 Virginia/200 I ('12)
Foundry Lofts ('12)
1015 Half Street ('10)
Yards Park ('10)
Velocity Condos ('09)
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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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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 Valley/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 Valley/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 Valley/Half St., The Yards
 

* The Yards has been designated a LEED Gold Certified Neighborhood Development Plan, based on the 42-acre project's stage two design plan, which "integrates the principles of smart growth, urbanism, and green building into the first national system for neighborhood design." Read Forest City's press release, or learn more about the LEED for Neighborhood Development program.
* Southwest...The Little Quadrant With the Really Long Blog Name (hey, we kid because we love) gives a full report on the meetings last week to create a plan for Buzzard Point. The American Planning Association has posted its press release summarizing the sessions, saying that "Buzzard Point is a distinct area and should build on its strong existing residential character" and that any future plans should "[a]void using a cookie-cutter approach to redeveloping the neighborhood; the type of redevelopment taking place east of South Capitol Street is not what should occur west of South Capitol Street." (Yikes, now there's going to be a rumble in the South Capitol Street median.)
* Michael Perkins is not the person you want to be unable to find a parking space. Speaking of which, here's the second part of GGW's report on last week's Ward 6 Performance Parking public meeting.
* The US Department of Transportation HQ on M Street has been named a winner of the Phoenix Award, which "honors excellence in brownfield redevelopment" and honors companies and individuals who have worked "to solve critical environmental and community challenges when transforming formerly used real estate into productive new uses."
* Voice of the Hill reports on the latest Lower 8th Street visioning sessions: "Barracks Row Main Street executive director James Dalpee suggested that a Columbia Heights-style model, with several big anchor stores, might be what's needed to spur retail in the area," though "while they are dreaming big dreams, planners also have to contend with a number of potential obstacles. They include CSX's plans to tear up Virginia Avenue from 2nd to 11th streets for up to three years to make room for a double-stack train tunnel; the Marine Barracks master plan, which is set to be unveiled soon; and the 11th Street Bridges expansion project."
* WBJ's Breaking Ground blog points to a video by the Huffington Post's investigative unit on "Commercial Real Estate: the Next Hole in the Economy," which "stars" Jeff Neal of Monument Realty talking about the buying "binge" his company went on to snap up lots around the ballpark site in 2004 and 2005. (Though I think it's funny to see WBJ getting a bit snippy about news organizations "discovering holes in the ground" after they did, since I'd be willing to wager that they weren't the first to report on those sites, anyway.) WBJ also says that Neal is developing a reality TV show. Also be sure to check out the comments on the YouTube video for the sort of level-headed, reasoned discourse that we've all become accustomed to on the interwebs.
 

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).
Monument is still looking for financing to complete the south end of the block, where they have been planning to build a hotel and two residential buildings.
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More posts: 55 M St., Monument Valley/Half St.
 

If you can wait an extra minute or to before going back to bed and pulling the covers over you until this cold rain is over, here's a few (very) small items:
* DDOT sent out a press release late Wednesday announcing a series of public meetings to "engage residents and businesses in the implementation of improvements proposed for the transit system for the city, including streetcars", the first phase of which should eventually run across the 11th Street Bridges from Anacostia to H Street NE. They haven't posted the release on their own web site yet, but Streetcars for DC has it (UPDATE: it's now posted at DDOT, and amended slightly). The closest meeting to Near Southeast is the first one, Oct. 22 from 7 to 8:30 pm at J.O. Wilson Elementary, 660 K St., NE. For more information, visit DDOT's Streetcar pages.
And, via BeyondDC, the WBJ is reporting that the H Street portion of the first phase will be completed first, thanks to lobbying by Tommy Wells. Wells is also working to overturn the longtime ban on overhead wires in parts of the city that include H Street, according to the article. But no timeline for the start of construction has been mentioned. (UPDATE 2: In a tweet, DDOT says this: "Our official target date is still late 2012 for Anacostia, but we are working to accelerate that line as well as H/Benning.")
Unfortunately, DDOT's current site doesn't include the early studies for the project, but Richard Layman ferreted out the web archive version of the site, where you can see the line down M Street SE and SW was one of the possible additional lines at this time. Will there be one in the next phase of plans?
* It may not seem like the sale of Corus Bank's portfolio of distressed construction loans to a group led by Starwood Capital Group would be of much interest, but included in that portfolio are the construction loans for both Velocity Condos and Monument's 55 M Street office building. This shouldn't have much of an impact on Velocity, but could help 55 M in its quest to lease space, as potential tenants see more certainty surrounding the building's financing.
* ANC 6D's October monthly meeting is Monday, Oct. 19, at 7 pm at St. Augustine's, 6th and M streets, SW. No agenda released as of yet (which is why I cry when I see other ANCs that post their agendas well over a week [sometimes two] before their meetings).
* Tommy Wells has arranged for free seasonal flu shots (not H1N1) to be given to senior citizens in Southwest and near Southeast on Saturday, Oct. 17, from 9 am to noon at the Greenleaf Recreation Center, 201 N Street, SW. The shots will be free for seniors with Medicare Part B as their primary insurance, or $30 otherwise.
* (ADDED) I linked to a story about this idea a few weeks back, but here's a detailed post from TSArchitect (cross-posted at GGW) on "McMillan Two," which would radically remake the Anacostia Waterfront by filling in much of the river to narrow it to a width of about 500 feet, the same as the Seine in central Paris.
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More posts: 55 M St., ANC News, meetings, Monument Valley/Half St., streetcars
 

* GlobeSt.com says that the 100 M Street office building built by Opus East--and now owned by its bank after Opus went into Chapter 7 liquidation--is under contract to be sold for $80 million to Mayfield Gentry. Gentry has been pursuing the purchase since late last year. GlobeSt: "If events play out as expected, 100 M St., SE will fit nicely into the story line emerging for the District's real estate community: namely, that buildings in the city limits are still holding their value and attracting investor interest--so much so that the growing levels of distressed real estate are not likely to impact the District to any great degree."
And two quick links that I Tweeted on Friday but forgot to post here (oops):
* Want to rent out the ballpark or a portion thereof for a shindig? The NationalsEvents.com web site is now launched, with details on packages, rates, and more. (I needed this when I was trying to put together my high school reunion last year.)
* WBJ's Breaking Ground blog posted on the status of Monument's Half Street project, talking about "the hole" ("'The hole. Yes, the hole,' sighed Russell Hines") and the 55 M office building completed earlier this year which "is still empty but has experienced 'a distinct change in the level of activity' over the past two months, with a few seriously interested tenants." They're looking for ways to find financing to start construction on the residential and hotel portion on the south end of the block, but aren't finding any outlets yet; but because the site is owned outright between the equity partners (Monument, the shell of Lehman Brothers, and MacFarlane Partners), "no construction lender or mortgage holder is going to demand the keys" to the site.
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More posts: 100 M, 55 M St., Monument Valley/Half St., Square 743N, Nationals Park
 

* A reminder that tomorrow (Wednesday) at 10 am the DC Housing Authority is holding an official ribbon cutting and grand opening at Capitol Quarter, Fourth and L, with the mayor expected to be in attendance. If the sun is out, I may use this as the motivation to finally get some updated photos of the construction, with the framing in block three (north of K between Fourth and Fifth) now well underway.
* The Post reports on how the many new apartment buildings in the area are aggressively competing for tenants, with the new buildings in Near Southeast apparently leading the way: "The ones around Nationals Park, for instance, collectively have offered the deepest concessions since Delta started tracking rents 18 years ago. Some of those projects gave away the equivalent of four months' rent in concessions, which helps explain why effective rents in the District plunged 7.8 percent in June compared with a year ago. Without the ballpark area, rents fell 4 percent."
* From the BID's newsletter last week: "Mark your calendars for September 19th for the FRONT Door Home Tour & Canal Park Picnic from 10 am - 2 pm. The FRONT Door Tour will feature a variety of unique residents' homes and highlight the Capitol Riverfront as a new residential neighborhood in DC. The event will include a community picnic at the future site of Canal Park (located at intersection of M St., SE and 2nd St., SE) with food, music, and lawn games. The FRONT Door Tour will be free and open to the public. More information to come soon."
And, two items about off-topic projects by Near Southeast developers:
* Monument Realty announced yesterday that its long-planned renovation of Potomac Place Tower on Fourth Street in SW is now going to move forward. From their press release: "Monument Realty acquired the Potomac Place project in 2001 and in 2005 completed construction of a new, 302-unit condominium adjacent to the existing Potomac Place Tower, which was built in 1959. In 2003, Potomac Place Tower was designated a historic landmark by the District of Columbia and in 2005 the residents of Potomac Place Tower elected to convert the property to a condominium. Monument Realty's longstanding history and commitment to the project gave the new lender the confidence to retain its services for the completion of Potomac Place Tower."
* Forest City Washington has been selected by the government of Puerto Rico as the program manager for the redevelopment of a 100-acre portion of San Juan's waterfront district. Residential, hotel, office, retail, public parks, and a marina--sound familiar? (I don't think I mentioned that a few weeks ago the District selected Forest City as an advisor for the redevelopment of Poplar Point.)
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More posts: Capitol Riverfront BID, Canal Park, Capper, Capitol Quarter, Monument Valley/Half St., The Yards
 

From WBJ, a few days ago: "Madison Square Garden LP, owner of the famed New York City arena that bears its name, is looking to open a major entertainment venue in the District. The sports, entertainment and media company began contacting the office of Valerie Santos, deputy mayor for planning and economic development, and major landowners in early summer[...] According to sources close to the company, MSG would open a venue of a 6,000 seats or more, requiring up to 100,000 square feet near shopping and public transit." The head of the Washington DC Economic Partnership apparently made presentations to MSG "on sites near the Walter E. Washington Convention Center and in the area around Nationals Park."
In this Breaking Ground blog post today, Jonathan O'Connell tries to guess where MSG might be looking, and includes the Yards and Half Street (either the Monument or Akridge sides) as possibilities. And this NewsChannel 8 report interviews Michael Stevens from the BID about it all.
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More posts: West Half St., Monument Valley/Half St., The Yards
 

Monument Realty just passed along word that 55 M Street, the 275,000-sq-ft office building at Half and M that was home to Artomatic 2009, has been awarded LEED Gold certification by the US Green Building Council. A quote from Monument's head, Michael Darby: "This is a great accomplishment for us. We expected to earn LEED Silver certification at 55 M, so to be awarded Gold is a true testament to the hard work that all the team members put into this project."
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More posts: 55 M St., Monument Valley/Half St.
 
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