JBG has acquired the southern two-thirds of the block, far better known as the shipper container-ringed location of the Fairgrounds, directly across N Street from Nats Park and also directly across Van Street from JBG's own under-development 1244 South Capitol residential project.

Akridge apparently is maintaining a minority stake in that portion of the site, but JBG will "take over day-to-day development duties." WBJ says Akridge is also apparently "under contract to recapitalize the northern third of Half Street."

After Akridge acquired the site in 2008--which was once home to WMATA's Southeastern Bus Garage--plans were run through the Zoning Fun Factory for two office buildings on the north end of the site and a 280-unit residential building on the south end (along with 55,000 square feet of retail), but WBJ says that JBG's portion of the block is now expected to include two residential buildings, with one office building on the land Akridge still owns along M Street. Plus "dramatic retail."

WBJ pegs the sale price for the JBG portion of the site at $45 million.

This is not unexpected, as news had surfaced back in September that Akridge was looking for a new partner to develop the site.

It also dovetails with the sale of Monument Valley on the east side of Half Street to the MacFarlane/Lynch development team, which is early in the process of bringing residential offerings along its own portion of N Street.

You can look at my Akridge Half Street project page for reminders of what had been planned for the site, though I look at that page (and my Monument Valley page) more as a marvel of the tens of thousands of words I have expended on plans for these sites over the past 10 years.