Catching up a bit here after the holiday.... Preferred Real Estate Investments has purchased the "Blue Castle" building on the corner of 8th and M, for $20 million. According to the Post: "Executives at the Conshohocken, Pa., developer said the location of the 100,000-square-foot building makes it ideal for retail stores such as a Barnes & Noble bookstore and a Whole Foods grocery. The upscale stores eventually would supplant three charter schools that now are in the building." They hope to start construction in 2007. (And they're planning to de-Blue the building a bit, too, by painting it a more sedate shade; but they plan on preserving the arched windows and exposed brick interior.) Note that it doesn't sound like there are as yet commitments from any retailers for the site.

More non-stadium news! I've got a tidbit or two on the Capitol Hill Tower project, as it heads toward the finish line. The Courtyard by Marriott hotel that makes up the southern portion of the block is anticipating an opening date of March, 2006 (I'll let you know when reservations start being accepted). Also, the site's developers are working on filling the 9,000 sq ft of ground floor retail that's available--a drycleaners has already been lined up, and there are hopes that a restaurant can be brought in as well. I've added a new rendering of the Courtyard elevation along L Street to my Capitol Hill Tower page--and I'm embarrassed at how the photos on that page are getting way out of date, I'm going to do some mammoth photography sessions next week, I promise. UPDATE: And I also hear that an on-site Sales Center for the residential/co-ops side of the project will be opening soon. The residences are supposed to open sometime in the second quarter of 2006. UPDATE II: And coffee lovers will rejoice to hear that there's also going to be a mini-Starbucks counter in the lobby of the hotel!

Friday's print edition of the Washington Business Journal reports that developer Ron Cohen has purchased the entire block bounded by Half, K, L, and 1st Streets, SE (square 699N), for $55 million, with plans for a mixed-use project that may include 650 condos, a hotel with condos, a stand-alone 250,000 sq ft office building, and possibly retail as well. Tenants on the block--including the nightclubs Wet, Edge, and Club 55--have been told that the buildings will be razed in late spring 2006. Phase I of the project will have 250 condos, and hopes are to begin construction in October 2006, and to have the entire project completed in four years. A few pictures of the block in its current state are on my South Capitol Street Corridor page (you'll have to scroll down a bit for them--this project will eventually get its own page, but not just yet!).

Some fun tidbits:

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