Near Southeast DC: Past News Items
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2 Blog Posts Since 2003
Toll Brothers Buys Second Square 699N Lot From Cohen
Oct 31, 2012 12:10 PM
DC property records show that on Oct. 1, "Toll DC LP" paid $14.5 million to the Cohen Companies for the final empty lot on the Square 699N
/Velocity block, running along the east side of Half Street SE between K and L, across from 1015 Half Street
With Toll's $24 million purchase back in May
of the 1st and K portion of the same square with plans to build a 250ish-unit residential building, this now gives the company a second toe-hold inside the District, both on the same block.
There are rumors that the 1st and K site could see construction start in the spring, but there have been no announcements. (And I can't really even say "wait to watch for digging," since on that 1st and K site the garage and underground infrastructure was already dug and completed when the Cohen companies built Velocity
Toll Brothers Buys Velocity Sibling Site, Will Build Residential
May 2, 2012 11:08 AM
I've learned today that mega-developer Toll Brothers
has purchased the Square 699N land directly north of the Velocity Condos
building on 1st Street SE for $24 million, with the intention of building a 250ish-unit residential building.
This land has been owned by the Cohen Companies since their purchase of the entire block
bounded by 1st, Half, K, and L in 2005.
In fact, the garage and below-grade structure for the Toll Brothers lot is already built--that's why you see all the funny beige boxes on the land, covering vent shafts and other infrastructure items. Cohen had planned to move forward with a sibling for Velocity soon after it completed the condo building, but that never came to fruition.
This would be Toll Brothers's first building in DC proper, I believe, but they have plenty of offerings in the Metro area
. And, as I found out today, they don't just do single-family homes (White Flint Station
is an example of a condo building of theirs in the area). UPDATE:
SWill from across the way mentions in the comments that TB bought White Flint Station after it was completed and converted it to condos from apartments. Apologies for the assumption.
More to come on this, I'm sure. And it will no doubt be seen as another indication of the strength of Near Southeast's residential market.
[And I should add that Cohen still owns the third lot on the block, along Half Street.]