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Near Southeast DC Past News Items: May 23, 2008
In the Pipeline
1000 South Capitol
25 M
Yards/Parcel I
Yards/Parcel G
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
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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2 Blog Posts

With a unanimous 5-0 vote after a brief discussion, the Zoning Commission approved last night the plans for "RiverFront," the 5.8-acre mixed-use project on the Anacostia River south of Nationals Park, ending the decade-long trip through the zoning process for the site long known as Florida Rock.
Before the final vote, chairman Anthony Hood quoted from the recent ruling by the National Capital Planning Commission that the RiverFront project "would not adversely effect" any federal interests. Remarking that the passage "says it all," Hood read: "This project is expected to bring activity and amenities to the Anacostia waterfront and is respecting the planning for the South Capitol Street corridor and the new Frederick Douglass Memorial Bridge. Furthermore, it is enhancing the connection of the Nationals Baseball Park and surrounding district to the Anacostia waterfront, goals supported by the Anacostia Waterfront Initiative[.]"
Now it's onto construction drawings and a trip through the city's permitting process. It's not expected that work will begin until sometime in 2009 on the first phase of the site, which includes an office building with ground-floor retail and a public plaza across Potomac Avenue from the ballpark's grand staircase. [see update below for caveat]
If you want to know more (dear heavens, I'm not going to go through all the details AGAIN), look at my project page for renderings and also scroll through five years' worth of news items on it all. UPDATE: The press release is out, and I'll note that it gives no indication of when the first phase could start. Given the Monument Realty news of financing troubles, Camden's pause at 1345 South Capitol, and the commercial real estate biz in general, it's probably best to now be pretty skeptical of start dates until permit approvals start popping up and shovels start digging into the ground.
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More posts: Florida Rock, zoning
 

From today's print edition of the Washington Business Journal: "With two failed condominium projects seeking apartment investors, incomplete financing at two major D.C. projects and at least one empty office building, Monument Realty is feeling the pinch from today's constricting real estate economy. [...] And, contrary to industry speculation, Monument is not for sale, [Monument co-founder Jeffrey] Neal said. In the coming weeks the company hopes to nail down financing for two ongoing projects -- the residential portion of its Half Street project and The Watergate Hotel -- and finalize negotiations to sell two residential projects, he said."
As for the status of Half Street, where the 55 M Street office building is topped out and a hole is dug awaiting the start of a planned 200-room hotel and 340 residential units: "Monument recently secured $72 million in construction financing for the office portion of Half Street, along with an undisclosed sum for the hotel piece. The development company is still in the hunt for financing for its planned 340 residential units, Neal said. Once that is in place, the residential and hotel portions 'will come out of the ground this summer,' he said."
The article, which has a lot of detail on the difficulties Monument is facing on its other projects, also mentions that the litigation between Monument and WMATA over the sale of the Southeastern Bus Garage "has been put on hold while the parties mediate their dispute."
 




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