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Ruben Companies Planning 400-Unit Apartment Building at Half & I
Feb 20, 2012 12:36 PM
Another large apartment building for Near Southeast appears to be on the boards, with word filtering my way that Ruben Companies
has begun working with Shalom Baranes Architects
on designs for a 400-unit rental building on Half Street between I and K.
With the working name of "20 K," this building would be on the eastern portion of Square 697N
, which Reuben picked up via foreclosure
when JPI gave up on its plans for "23 I" on the site. There would be retail along the entire Half Street frontage, and Ruben is apparently looking around for any "organic markets" that might be interested. (Cue stampede of "OMG! OMG! OMG!" in the comments, but don't get ahead of yourselves, since there's no indication that That Particular Organic Market is displaying any interest in the site.)
Ruben owns the rest of the block
as well, and envisions an eventual Phase II project along South Capitol Street (where the Exxon used to be) that could be residential, commercial, or a hotel, depending on what the market will bear.
No timeline at this point, so don't start packing up your things for a move just yet.
The up-tick in the development of mutlifamily residential properties in Near Southeast after a three-year lull during the Economic Difficulties is obvious: Forest City's 220-unit 1212 4th Street
is just underway at the Yards, William C. Smith's 430-unit Park Chelsea
is on the boards to get started later this year, Akridge is "hoping
" to move forward in 2012 with the 280-unit residential part of its Half Street project
, and Florida Rock's developers have replaced a planned office building with a 300-unit residential offering for the project
's first phase, which could get underway in 2013. (And it's worth noting, as mentioned in the comments, that every one of these is planned to be a rental building, not condos.)
And I wouldn't be surprised if there were more to come.
Tidbits: BID Reports, Artomatic to Crystal City, Tunnel Items, More
Jan 18, 2012 2:33 PM
There's been a whirlwind of "big" posts as 2012 has gotten underway, so here's a few items I've neglected:
* BID Reports
: At its annual meeting last week, the Capitol Riverfront BID
released both its annual report
and the "Green Print of Growth" study they commissioned, which showed that the portion of the Green Line from the Navy Yard station to Georgia Avenue/Petworth has become over the past 10 years a "regional leader" in "capturing highly-prized young professional housing demand and high-wage employment," just nosing ahead of the Orange Line's Rosslyn-Ballston corridor and outstripping the Red Line's stretch in Northwest DC when looking at household growth in the 18-to-34 demographic. The report also says (shocker!) that "the analysis conducted suggests that the Capitol Riverfront--given its Green Line access at the Navy Yard Station and its significant amount of development capacity--is among the most competitive locations in the region for households, companies, and retailers."
This was followed by a commentary
by BID chief Michael Stevens in Monday's Washington Post/Capital Business in which he argued: "It's time for business and residents to recognize and acknowledge a new reality: The Green Line corridor has emerged as a powerful economic engine for the District and the region. And it's time for Metro, the city and the private sector to invest more in the area to support this growth trajectory."
* On a parallel track, though it doesn't have to do with Near Southeast specifically, the Post's Steve Pearlstein wrote
over the weekend about how signs suggest "that the next phase of growth in the Washington region will focus on these underdeveloped areas in the eastern quadrants of the District and some of the region’s older, closer-in suburbs."
* New Views
: While I was at the BID's meeting, I took the opportunity to get some photos of the inside of 1015 Half Street
, plus one shot looking out
that shows not all views of the U.S. Capitol dome are, by default, "majestic." (Alternate caption: "Would you like fries with that democracy?") One Twitterer suggested
that the rock circle at far right, on the Capitol Hill Power Plant's property, is where the ritual sacrifices are held. So, if you see the Congressional leadership skulking around I Street late at night....
: A reader who lives on 7th Street just across from the Marine Bachelor Enlisted Quarters has passed along that the neighbors on that block have decided to lodge a formal protest at the liquor license renewal of the 7th and L Market
, thanks to having witnessed multiple examples over the past few years of public drunkenness and urination, loitering, littering, drug dealing, indecent exposure, and even one proposition by a prostitute. There's no doubt that that market is a bit of a throwback to the neighborhood's previous incarnation; it will be interesting to see how this proceeds, and also how the eventual arrival of the National Community Church on that block
changes (or doesn't change) things.
: Don't have enough to worry about these days? How about rising sea levels inundating
areas along DC's waterfronts? (WaPo/Capital Weather Gang)
* Neighborhood News Roundup
: The Post's new Where We Live real estate blog has a rundown
and photo gallery
today on the latest progress on the development and food fronts in Near Southeast. If it all looks and sounds strangely familiar, that shouldn't be a surprise.
A Few Oh-Yeah-I-Meant-to-Mention-That Tidbits
Jan 9, 2012 9:52 AM
* 1015 Half Buyer
: On Friday the Post debuted a "What's Going On With....?" feature at their new Where We Live Real Estate blog
(reminds me of my old "What's the Deal With...?" days), and the first item
was on the empty office building at 1015 Half Street
. One tidbit not mentioned there, or at JDLand before now, is that apparently Prudential Real Estate Investors is buying the building, with the deal supposed to be closing this month, according to Bisnow
. Bisnow says that the deal was always for Prudential to buy out Bank of America's stake in the building when it was finished, even back when it was Opus East doing the developing, not current receiver Douglas Wilson Companies.
* Navy Yard Riverwalk Closure
: It was announced on Twitter last week
that the Navy Yard
Riverwalk will be closed from Jan. 5 to Jan. 17 to install fences around the piers. (What? You thought I meant the entire Riverwalk and not just the portion controlled by the Navy Yard? Why ever would you have thought that?)
Artomatic Looking for 2012 Space, Eyeing 1015 Half, 101 M SE
Nov 27, 2011 5:00 PM
Jonathan O'Connell has a piece in Monday's WaPo Capital Business about Artomatic's search for a 2012 home
, and how the organization wants to replicate the success of the 2009 version
at the then-vacant 55 M St., SE
: "This year's search is down to about four buildings, two near Nationals Park: 1015 Half St. SE
, an empty 414,000-square-foot building being purchased by Prudential Real Estate Investors; and the former offices of the National Geospatial Intelligence Agency, at 101 M St. SE
. Artomatic also is considering the People's Building in Northeast, and another location in Crystal City."
1015 Half Street
(left), on the site of the old Nation nightclub, is currently home to more than 400,000 square feet of Class A office space emptiness right now. The NGA recently departed
1st and M (right), and while I would love for Artomatic to come to this spot merely for the chance to finally get inside the formerly armed encampment before its inevitable demolition as The Yards
moves forward, I wonder how excited the organizers would be to have a building with almost no windows, except on the top floor. (I know that 55 M's large windows and great views
of Nationals Park, Near Southeast, Southwest, and north to the Capitol were a big hit with 2009 Artomatic attendees.)
It was in December 2008
that word first began to trickle out on the 2009 Artomatic
location, so perhaps the decision one way or the other won't be too long in coming.
Ruben Companies Buys Two Exxon Sites on South Capitol Street
Jul 5, 2011 5:36 PM
Deeds have been recorded this afternoon indicating that the Ruben Companies
has bought the two empty Exxon lots on South Capitol Street, at I Street SE and K Street SW.
The purchase of the 35,000-square-foot lot at South Capitol and I gives Ruben control of the entire block known as Square 697N
; the company picked up the other 47,000 sq ft of the block back in 2009
after developer JPI defaulted on its loan for what was then the site of a Wendy's restaurant.
The other lot Ruben bought from Exxon, just south of the Capitol Skyline Hotel at South Capitol and K streets SW, is about 31,000 square feet and also gives the company control of that entire block, known as Square 648, after Ruben bought the other two lots in 2005 and 2007.
This now makes four sizeable sites that Ruben owns on this three-block stretch of South Capitol Street, since the company also owns 1100 South Capitol St. SE
and 1101 South Capitol St. SW
across the street, both of which are being marketed as office buildings.
I don't know any more specifics about the sales at this point, and it's unlikely any buildings will be immediately sprouting on either site. But it is yet another bit of commercial development news that would seem to indicate that the worst of the downswing is past.
Pre-Weekend Cleaning Off of the Messy Virtual Desk
Oct 1, 2010 11:50 AM
Here's a bunch of little items that aren't ridiculously newsworthy, but that might be of interest. Since it's Friday and many of you actually have lives, I suggest reading a few at a time, and keep coming back over the weekend until you get through all of them. Some I've already passed along via Twitter
(which you can also follow by being a Facebook Fan of JDLand
), but some are surprisingly fresh. Here goes:
* The process that will beget the new Southwest Waterfront is now underway, and SWill at Southwest: The Fabulous Blog With the Funny Name (did I get that right?) reports on this week's public meeting
by the developers. Current plans call for 560 residential units, three hotels totalling 600 rooms, 840,000 square feet of office, 335,000 square feet of ground floor retail, some sort of music hall / museum / maritime education offering, 2,500 underground parking spaces in five garages, and 400-500 marina slips, with 60 percent of the site area being public space.
* Back before 1015 Half Street
was a slow-to-finish office building, it was an old industrial building that in 1995 became the Capitol Ballroom and then eventually the Nation nightclub. But from its construction in 1931 until it was sold at auction in 1992, the southwest corner of Half and K was home to the J.E. Hurley Machine and Boiler Works company. And thanks to the Kinorama Flickr stream
that took the Twitterverse by storm this week, here's a shot of the Hurley building
, undated but probably in the early 1990s. The outlines of the more-familiar Nation building
are clearly visible.
* Pastor Mark Batterson, writing about
the National Community Church's purchase of the Miles Glass
site at 8th and Virginia, says that they are looking at some of the adjacent properties as well. "Our current lot serves our current purposes, but when we think in twenty year terms the additional lots would give us more upside potential."
* On Friday, Oct. 8, the Susan G. Komen 3-Day Race for the Cure
will be holding its opening ceremonies at Nationals Park
. It's not just for participants, and friends and family are also being encouraged to attend. Walkers will start arriving around 6 am, with the opening ceremony beginning (with "community stretching" at 7 am). Afterward, the participants will begin their 60-mile walk (though I can't find a map to figure out their route). More information about the opening ceremonies and race here
* Because I'm worried that the Marines' hunt for a new barracks site isn't engendering enough conversation around here, I'll point people to Norm Metzger's report
on last week's Community Leadership Group meeting that I wrote about here
* I've written a few times about my interest in Detroit, and whether it can come back from so far down. If you haven't been following along, here's a great essay with lots of photos
, written by David Byrne. (Yes, that David Byrne.) (thanks to reader EH)
New Photos. Lots of Them. (1015 Half, 11th Street Bridges, Yards Park, Etc.)
May 31, 2010 4:56 PM
There have been a lot of photos I've been needing to take recently, and the stars finally aligned today for me to go get them. (I sure could use some Gatorade about now, though.) Here's a run-through:
I also wandered over to 1015 Half Street
, now that I've been convinced that they're truly working on the building again. The main project page
has an overview, but if you can't get enough before-and-afters, the Expanded 1015 Photo Archive
shows even more angles (though you Nation fans might find them bittersweet).
I know I just unleased a big pile of Yards Park
photos a few days ago
, but the big hole in the lineup has been a lack of shots from across the Anacostia River, at Poplar Point. So I got over there today, and while they aren't as exciting as you might imagine (though you can see that they're doing some priming or test painting on the pedestrian bridge), I've still added some to my Yards Park page
, denoted with the
icon. I also finally got my official "after" photos from Poplar Point for Diamond Teague Piers
, which you can see on the project page
and also here
. And, for the fun of it, you can also "watch" the stadium go up from that spot
If you want to see all the "intersection" shots I took today (all 131 of them!), they're here, on three pages
, and you can then click on the
icon to see the historical images. (I had a lot of spots that needed updating. Yeesh!)
1015 Half Starting Again (Again) (Again)?
May 3, 2010 1:17 PM
We went through this back in early March
, when sharp-eyed JDLand readers passed along indications of work re-starting at the stalled 1015 Half Street
office building project, with a Skanska sign going up at the skeleton. But it disappeared soon afterward, along with the workers that had briefly materialized. But last Tuesday, faithful Tweeters again reported signs of life at the work site, and now WBJ is reporting
that Skanska USA Building
is indeed about to re-start construction, expecting to finish the 440,000-sq-ft office and retail project by the end of the year.
No tenants have been announced. See my 1015 Half page
for more details on the long and winding road this project has taken.
Movement at 1015 Half Street
Mar 9, 2010 10:07 AM
Some alert readers reported today via e-mail and Twitter that there is renewed activity at the site of 1015 Half Street
, where construction of the 440,000-sq-ft office building was halted in the middle of 2009 when owner Opus East went bust and liquidated
. (The Douglas Wilson Companies
was named receiver for the property in August
.) I've heard no official announcements, but the many liens against the property were settled in January, and apparently people are on-site, and a new fence and "Skanska" sign are now up at Half and L, so we'll see if the project is in fact moving again.
Tidbits From the Past Few Days (Foreclosure, Marines, WMATA Cuts, 11th Street Bridges, 1015 Half)
Jan 21, 2010 10:35 AM
Rounding up some new and Tweeted
tidbits, now that I've recovered from cranking out the State of the Hood
* (h/t "reader X") The second foreclosure sale
held yesterday for the boarded-up apartment building and surrounding lots at Potomac, Ninth and L brought no bids above the $2 million starting point, so the properties will now return to the lender. An earlier auction back in October
had brought a $2.461 million winning bid, but that deal fell through. The properties were originally bought by ICP Partners in 2006
, along with the gray building at Eighth and Potomac, for $9 million.
* Via ANC 6B03 commissioner Norm Metzger
, the Marines have created a web site for their "Community Integrated Master Plan
." The site describes this planning process as evaluating "community-military development partnering options" because "[t]here are unmet facility needs and security requirements at Marine Barracks Washington and a potential to meet common community and military needs through the process" and that their goal is "to use a coordinated planning process to create a win-win in meeting the development needs of the local community and Marine Corps." Now that that's cleared up, you can go to the open house they're having on Jan. 27 from 5 to 8 pm in the North Hall of Eastern Market, to "assist the planning team in identifying issues, concerns, and potential opportunities for military-community development partnering."
* One of many service reductions proposed by WMATA
to help close their FY2010 budget gap is to shut down one of the two entrances to the Navy Yard metro station on weekends. (They don't say which one.) The public hearing on their various proposals is Jan. 27 at 5:30 pm. UPDATE:
From Michael Perkins, in the comments, it would be the west entrance, at Half and M. I wonder if this would only be when there are no stadium events?
* Via the Capitol Hill Chamber of Commerce's Twitter feed
, there will apparently be one more Lower 8th Street
visioning session, on February 22. After this final session, the group will forward its recommendations to the Office of Planning on what sort of development should be emphasized for these blocks south of the freeway.
* In Sunday's Post, Dr. Gridlock took a look
at the 11th Street Bridges project
, telling drivers what to expect as the construction unfolds, and that the "new bridges will forge a link between Maryland, the District and Virginia that has been missing since the original highway plan for the District was abandoned decades ago. And it will create a new link between neighborhoods on both sides of the Anacostia while relieving them of some of the commuter traffic that spills onto local streets."
* As part of the start of work on the bridges, a raze permit application has been filed to demolish the old red brick buildings
between the current bridges that housed the Anacostia Community Boathouse, whose operations are now moving up-river
to a temporary (maybe permanent) home at the Anacostia Marina.
* A little time spent trolling through public records shows that within the past month a bunch of the liens brought against Opus East when they liquidated and stopped work on 1015 Half Street
have been settled. No indications from the new owner (Douglas Wilson Companies
) as to when construction might restart, despite their statements back in October
that it would be happening soon.
No Bids at 23 I Foreclosure Sale; Land Now Owned by Ruben Companies
Oct 13, 2009 10:40 AM
I attended my first-ever foreclosure sale this morning (yay...?), where the two lots at 23 I Street
(the old Wendy's site) that JPI had purchased in 2007 for $28.6 million were to be auctioned off after JPI defaulted on its $25 million loan. However, there were no bidders for the 47,000-sq-ft piece of land (which doesn't include the Exxon next door), and so the property is now owned by Ruben Companies
, which bought the original note from Key Bank earlier this year.
Ruben Cos. also owns the 1100 South Capitol lot
(plus 1101 South Capitol, across the street and outside of my boundaries), and had at one point been working to purchase the St. Matthew's Church land at New Jersey and L before opting out.
The company has no plans to build anything soon on the 23 I lot--but if anyone's interested in renting the land for some interim entertainment use (a la
Akridge's deal with the Bullpen on Half Street
and even the trapeze school
at the Yards
), Ruben says they'd be willing to listen. Maybe the neighborhood could get a putt-putt course or something!
Construction Starting Again at 1015 Half
Oct 3, 2009 11:47 AM
I'm hearing that the Douglas Wilson Companies
--a San Diego developer specializing in "distressed properties and crisis management" that was appointed in late July as receiver for both 1015 Half Street
and 100 M
--is getting construction moving again at 1015 Half (along with "aggressively" marketing and leasing of the building). Also, a "disposition strategy" for 100 M is expected to be in place later this month. This appears to be Wilson's first foray into the DC market, though the company also has branches in Atlanta, Las Vegas, Miami, Orlando, and San Francisco. This San Diego Business Journal profile
of Wilson and his company gives a bit more info not only on the organization but on the role of a receiver in dealing with distressed properties. The two buildings hit the skids when Opus East collapsed and liquidated.
Closed Exxons at South Cap/I and 11th/M Demolished
Oct 1, 2009 3:33 PM
On Tuesday reader F. reported that the long-dormant Exxon at South Capitol and I
was being demolished; and today neighboring blogger DG_Rad
that the not-quite-as-long-dormant Exxon at 11th and M
is being torn down today. There's been no big movements that I've heard for either of these lots, both of which were "sold" by the main ExxonMobil Corporation to its nonprofit ExxonMobil Foundation. Perhaps the city's recent blighted property tax doings
spurred the demos?
For those of you who haven't been around for the long haul, let's revisit the tale
of when the South Capitol Exxon went out of business:
[Here's the] link to a DOJ press release
[now dead, alas] from January detailing that the Exxon's owner pleaded guilty "to fraudulently double-billing government contractors more than $120,000. [Mahmud] Rashid, 46, of Raleigh Lane, Stafford, Virginia, entered a plea of guilty yesterday in United States District Court to one count of wire fraud. According to the terms of the plea agreement, Rashid could be sentenced to between 12 to 18 months of incarceration when he is sentenced before the Honorable Richard J. Leon on June 2, 2006."
Foreclosure Notices for JPI's 23 I Street Lots, and Nine Potomac Ave./9th St. Parcels Owned by ICP
Sep 22, 2009 10:28 AM
On Sept. 10 a Notice of Foreclosure Sale was filed for the two now-vacant parcels of land on the southwest corner of Half and I streets where the Wendy's used to stand. (Note that this doesn't include the adjoining Exxon land.) The lots, totalling about 47,000 square feet, were bought in July of 2007 by JPI for $28.6 million, with the intent of building 23 I Street
, the fourth of JPI's "Capitol Yards" residential buildings (along with 70/100 I
and 909 New Jersey
). JPI owes $25.1 million on the loan, which came due on Aug. 1 and which is held by Ruben Companies
, owners of 1100 South Capitol Street
and 1101 across the street. The foreclosure sale is scheduled for Oct. 13.
JPI East pretty much fell apart over the past two years, with its principals taking what was left and forming a new company in June
with bigwigs at Akridge; stories at the time mentioned their continued stake in 70/100/909, but said nothing about 23 I.
Another, smaller commercial foreclosure is happening further east, where nine parcels owned by ICP Partners along Potomac Avenue between Eighth and Ninth
(including the brown boarded-up apartment building at Ninth and its parking lot) received a notice of foreclosure on Sept. 4, with a debt of $2.3 million on the properties. ICP tried hard earlier this year to drum up interest in these lots
plus the gray building at Eighth and Potomac that houses Quiznos (which is not
part of this foreclosure), after a previous sale attempt in 2008 went nowhere. ICP paid $9 million for all 10 properties in 2006; this foreclosure sale is scheduled for Oct. 6. (The properties are also on the city's September Tax Sale list
Whether the properties will actually go on the block, or if deals will be struck or lawsuits filed in advance of the sale dates, remains to be seen, but foreclosures are about to be a big part of the commercial real estate landscape throughout the US. (Spend a few days reading Calculated Risk
if you want some insights into the predicted onslaught.)
As for the neighborhood's other "distressed" properties, Opus East's 100 M
and 1015 Half
office buildings are part of the company's liquidation proceedings, with rumors flying
but no news of new owners yet. And the empty lot in the 1000 block of Seventh Street (across from the Marines
), where a developer had been planning an apartment building
, was sold in late July for $400,000 after a foreclosure; it had been purchased along with the two townhouses alongside it for $1.25 million in 2004. One townhouse was subsequently sold, the other was foreclosed on as well, though so far no evidence of a sale has turned up.
No News Is.... No News (Well, Barely Any News)
Jul 6, 2009 4:24 PM
I haven't gone anywhere, I just have barely any news to pass along these days. This is the best I can do:
* As I tweeted
last week, I heard from the owner of the Cornercopia Deli at Third and K, saying that the "wheels are turning a little more slowly" than they had hoped, thanks to red tape. No opening date, but that shouldn't stop you from leaving your thoughts in the comments about what you'd like to see sold in the store--and maybe we can get Mr. Oh himself to say hello...
* In Friday's print Washington Business Journal
, Missy Frederick writes that sports bar The Greene Turtle
is looking to open five more locations by the end of 2009, with two of them in DC, "particularly near Capitol Hill or by one of the college campuses." Hmmm, what neighborhood with a fair amount of already available retail space (and a guaranteed influx of sports fans) is "near Capitol Hill"? (But I'd note that the biggest available retail spaces in Near Southeast, on the ground floors of 100 M
and 55 M
, are in buildings where the owners [Opus East and Monument Realty] are in rough patches; does that make signing a retail lease less enticing, or more? On the other hand, the ballpark
has all that empty retail space along First Street....)
Opus East Files for Chapter 7 Liquidation
Jul 1, 2009 6:55 PM
Opus East, the development company whose portfolio includes the already completed 100 M
and under construction 1015 Half
office buildings, filed on Wednesday for Chapter 7 liquidation, according to the Washington Business Journal
. The article mentions the falling through of Opus's deal to sell 100 M to MayfieldGentry Realty Advisors earlier this year as part of the company's woes, and the building is part of the bankruptcy filing and liquidation. The 1015 Half Street
project, expected to finish late this year or early next year, is presumably part of it as well. No tenants for the 440,000-sq-ft office building have been announced.
New 'Where's My Bus?' App for Circulators; Q2 Residential Numbers; Square 701 Not Starting Soon
Jun 26, 2009 2:05 PM
* Just out from DDOT (press release now online
), a new "Where's My Bus
" app for the Circulator
buses. Go to circulator.dc.gov
(it's formatted for cellphones and PDAs, but works in any browser), pick your line and stop, and find out how far away the next bus is. (Here's the information for the 4th and M stop
, heading toward Union Station.) They say an iPhone app will be coming will be coming later this summer.
* From the BID's newsletter (which I'm not finding on their redesigned web site
), the latest update on residential leasing and sales for the second quarter of 2009: The buildings known as Axiom and Jefferson (at 70 and 100 I
) and Onyx on First
are at a combined 60 percent leased for the 960 units in the three buildings; 909 New Jersey
(which opened in early April) has 25 percent of its 237 units leased. The Capitol Quarter
townhouses are listed at 88 of 113 units sold (though I'm not sure how the public housing rental and for-sale units figure into that number), and Capitol Hill Tower
is reported as being 80 percent sold. No numbers are reported for Velocity Condos
, which according to a presentation by Michael Stevens last week is supposed to open in late August or September. All told, the BID says there are an estimated 1,863 residents in the Capitol Riverfront.
* A WBJ piece from today's print edition on Willco Cos.'s new $100 million fund
says that the company "does not plan to dip into the fund for development projects in the pipeline, such as its 700,000-square-foot mixed-use project adjacent to Nationals Park, at Square 701
, the intersection of M and First streets SE. That project is in pre-development mode right now without a major tenant; Willco doesn't expect to kick off construction until it sees 'signs of life in that neighborhood,' Goldblatt said." This lot is probably better known as Nats Parking Lot F
, and the former home of Normandie Liquors and other small businesses.
Updated Photos (Cap. Quarter, Canal Park, 1015 Half)
Jun 25, 2009 4:44 PM
It's been a while since I've posted a big batch of new photos (and be assured that the guilt has been killing me), so I made a couple of quick runs today to rectify this. The showiest shots are to be had at Capitol Quarter
, of course, with the houses on both sides of L between Fourth and Fifth now mostly occupied, and those up Fourth and on the south side of K now painted and landscaped. If you want an even fuller set of photos than what's on my CQ page, go to the CQ Phase I Expanded Archive
to see all angles of the intersections where construction is either completed or still underway. (The multicolored houses up against the bright blue sky, lit by the summer-solstice-height-sun, show why I tend to wait for sunny days to update the photo archive. Well, that and I'm lazy and am always looking for an excuse to not go take pictures.)
Meanwhile, at Canal Park
, I finally got some photos of the sod on the southern block, and the first hints of grass on the other two blocks as the seeding starts to grow in.
And, over at 1015 Half Street
, the glass continues to be hung on the northern exterior, so I took some photos of that side of the building. (The southern side looks the same as it did in May, so I happily skipped those photos.) The block does now look a little different from when Nation was there.... (See the expanded archive
for additional shots.)
Tough Times for Opus East and Monument Realty
Jun 19, 2009 9:05 AM
Two pieces from today's Washington Business Journal, both for subscribers only, tell of difficulties for two of Near Southeast's developers:
* Opus East
, which birthed 100 M
and the under construction 1015 Half
, is "teetering on the verge of bankruptcy
" because the "U.S. General Services Administration has refused to pay the developer for 'even one penny' of the more than $35 million the company has invested in erecting a new federal building in College Park." Its parent company, Opus Corp., is exploring bankruptcy or restructuring for Opus East and Opus West--two other Opus companies went into Chapter 11 this spring. The article also says that Opus East's deal with MayfieldGentry Realty Advisors of Detroit to buy 100 M fell through in May; but 1015 Half is, for now, "continuing in full swing."
* And Monument Realty
is having trouble
, though not on Half Street
--"At the end of May, at least three contractors filed suit in D.C. Superior Court to enforce more than $1.3 million in mechanic's liens the contractors filed against the last of three condominium buildings Monument is building at Potomac Place Tower near the Southwest waterfront. [...] At least one of the contractors is asking the court for a forced sale, if necessary, to collect amounts due."
JPI East, Akridge Principals Form New Company
Jun 12, 2009 10:25 AM
From today's Washington Business Journal
(subscribers only), news that Jim Butz and Greg Lamb of what was once JPI East have taken over what was left of that company (down to 22 employees from 380 a few years ago) and are partnering with Matt Klein and other principals at Akridge to create the Jefferson Apartment Group. Butz and Lamb "continue to hold a partnership stake in JPI [Multifamily]'s holdings," which includes 70 and 100 I
and 909 New Jersey
. The article says that Jefferson Apartment Group is "already targeting five properties" in DC, Philadelphia, and Boston, and "is in the early stages of planning and zoning new developments in Fairfax Count and Philadelphia," but doesn't mention what may be happening with 23 I
, the fourth JPI property in Near Southeast on the Wendy's site at Half and I.
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