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34 Blog Posts Since 2003
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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.
 

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.
 

Some very brief Near Southeast-related updates from two ANC meetings this week (I wasn't in attendance at either, so these are just quick summaries I received from Other Parties): At ANC 6D on Monday, the commissioners voted 3-2-2 to oppose a zoning special exception request (waiver of the rear yard requirement) for the planned office building at 1111 New Jersey Ave., the Donohoe project on the west side of New Jersey between L and M (on top of the eastern Navy Yard Metro station entrance); the Board of Zoning Adjustment hearing is on May 8. As always, the biggest sticking point appeared to be battle between the ANC's we-want-a-community-benefits-package-in-return-for-our-support stance and the developer's this-is-a-matter-of-right-project-we-don't-have-to-give-you-anything stance. (And you wonder why I avoid these meetings like the plague.)
Meanwhile, over at ANC 6B (which is in charge of the sliver of Near Southeast around 8th Street/Barracks Row), the process is beginning about the possibility of razing the abandoned beige apartment building on Potomac between 8th and 9th and replacing it with a new four-story building with ground-floor retail and two levels of underground parking (though this is still just in the conceptual phase and may not be the final plan). A raze permit has been applied for, but because this small section of Near Southeast is part of the Capitol Hill Historic District, the Historic Preservation Office will be involved in the process. More later, I'm sure.
 

While we wait for the city council to get to the baseball stuff on today's agenda, I'll pass along this news item--according to the DC Land Sales database, on Feb. 3, "ICP PARTNERS POTOMAC 810 LLC" purchased 10 lots along Potomac Avenue between 8th and 9th streets for $9 million. This includes the boarded up apartment building on Potomac, the building on M Street housing Quizno's, and the lots along 9th and the eastern edge of L. No word yet as to what their plans for this spot may be, but it is a prime location, just across the street from the Latrobe Gate of the Navy Yard. (Note that ICP Parnters is part of 801 Virginia Avenue LLC group currently developing the 801 Virginia Avenue project.)

 
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