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Near Southeast DC Past News Items: Square 696 Residential
See JDLand's Square 696 Residential Project Page
for Photos, History, and Details
In the Pipeline
25 M
Yards/Parcel I
Chiller Site Condos
Yards/Parcel A
1333 M St.
More Capper Apts.
Yards/DC Water site
New Marine Barracks
Nat'l Community Church
Factory 202/Yards
SC1100
Completed
Thompson Hotel ('20)
West Half ('19)
Novel South Capitol ('19)
Yards/Guild Apts. ('19)
Capper/The Harlow ('19)
New DC Water HQ ('19)
Yards/Bower Condos ('19)
Virginia Ave. Tunnel ('19)
99 M ('18)
Agora ('18)
1221 Van ('18)
District Winery ('17)
Insignia on M ('17)
F1rst/Residence Inn ('17)
One Hill South ('17)
Homewood Suites ('16)
ORE 82 ('16)
The Bixby ('16)
Dock 79 ('16)
Community Center ('16)
The Brig ('16)
Park Chelsea ('16)
Yards/Arris ('16)
Hampton Inn ('15)
Southeast Blvd. ('15)
11th St. Bridges ('15)
Parc Riverside ('14)
Twelve12/Yards ('14)
Lumber Shed ('13)
Boilermaker Shops ('13)
Camden South Cap. ('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)
 
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37 Blog Posts Since 2003
Go to Page: 1 | 2 | 3 | 4

Thanks to the latest update of the DC Property Sales database, I can now report that the entire block known as Square 696 (bounded by 1st, I, K, and Half) changed hands on April 12; the Pedas family sold its three lots, totaling 54,700 sq ft, for $49.834 million; Potomac Development Corporation received $19.544 million for the 19,600-sq-ft lot on the northeast corner of the block (home to a firewood business for many years). The database lists the buyer as "99 I Street SE LP"; we know from the signs that have gone up that the square is being developed as an office/retail project by DRI Development Services (a wholly owned subsidiary of Transwestern). No details yet on exactly what's coming, or when. (And a hat tip to the Pedas family, who adds this $49.8 million take to the $51.6 million payday they were part of when Ron Cohen bought Square 699N one block to the south in Sept. 2005 and the $4.5 million garnered from their sale of the Domino's lot at the corner of South Capitol and M in August 2005. Apparently you can make some money in this real estate biz.)
With this transaction now official, I've created a DRI/99 I Street page, with not-terribly-exciting photos of the block and my previous news items, and have added it to my main map and project directory.

More posts: Monument/South Capitol St., Nat'l Assoc of Broadcasters HQ, Square 696 Residential
 

Just a small update on the movement that appears to be happening on Square 696, which is the block bounded by 1st, Half, I, and K that is currently home to a firewood lot, a towing company, and a car repair shop. I mentioned a week ago that "DRI Development Office/Retail" signs appeared on the fence surrounding the firewood lot at 1st and I--within the last day or two, the same signs are now hanging on the southwest corner of the block (at Half and K). I have no more word on what's transpiring in this spot (believe me, I'm trying), but this could be what the Washington Business Journal was talking about in a recent piece when it mentioned "a block on the corner of Half and K" being "among the handful of property sales in the developing ballpark district as high valuations lure the current crop of owners to sell." The four parcels on the block have been owned up to now by the Pedas family (who sold Square 699N one block to the south in 2005) and also Potomac Development Corporation, and there's no indication yet in the land records of any sales. This is a big block, as the four parcels total around 74,000 square feet--with I Street likely to become a prime east-west artery across South Capitol through Southeast and Southwest, and with JPI's two residential projects going up directly to its north and east, it's a location that I've been surprised hasn't sprouted any projects sooner. More as soon as I get it.
More posts: mnorth, Square 696 Residential
 

Let's see.... The most interesting news of the day is that, as of 2:00 this afternoon, there were already folks camping out in front of the Capitol Quarter sales office, six days ahead of the next offering of five market-rate townhouses. Next, I took some new photos of the Nation demolition (which is not exactly proceeding with lightning speed)--check either my 1015 Half Street page for the basics, or the Photo Archive for Half and K and Half and L for additional shots. I also updated with what might be my final M Street photos for the DOT HQ, recording that both New Jersey and 4th Street are now open to traffic south of M (a couple weeks after the stoplights were turned on). And I took photos of the new DRI sign at 1st and I (though the photos don't show them real well, and one's already falling down)--they say "DRI Development Services, LLC | A Transwestern Company | Office/Retail." Still trying to get some info on what's coming there. Anyway, you can poke around those pages, or you can look at all the photos from today that I've posted and then click on the intersection/direction links to compare today's shots to what that view has looked like over the past few years.
 

Today I saw for the first time new signs hung on the fence surrounding the firewood lot on the southwest corner of 1st and I Streets, emblazoned with "DRI Development/Office and Retail" (or some such). I have absolutely no information on this--this lot has been owned for quite some time by the Potomac Development Corporation, but I don't see any records as of yet in the online public records to indicate a sale has taken place, so perhaps it's a joint venture. Or not. I don't know. Anyway, I'll try to see what I can find out (whispers in my ear always welcome!), and hopefully some light can be shed on perhaps ANOTHER project getting started in the North of M section of Near Southeast, to go along with JPI's two residential towers, ADC Builders' Square 699N, Faison's Onyx on First condos, and Opus East's 100 M office building (and maybe the Nation site, too?), and perhaps something on the Sunoco lot by Monument Realty.
 
37 Posts:
Go to Page: 1 | 2 | 3 | 4