Near Southeast DC: Past News Items - Jun 26, 2008
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WMATA Authorizes Settlement with Monument; Akridge Gets Garage, Monument Gets Parking Lot
Jun 26, 2008 1:56 PM
I know nothing more than this right now, but the WMATA board just within the past minute voted unanimously to approve the settlement of the lawsuit brought against them by Monument Realty over the sale of the Southeastern Bus Garage at Half and M. The discussion was all held in executive session, and the audio feed of the vote contained no details of the settlement, but I imagine the media will be picking it up soon. More as I get it, so keep checking back. Read yesterday's preview entry for background on the story.
UPDATE, seconds later: With the darn WBJ RSS feed not working, I missed this from about 40 minutes ago: ""Monument Realty and Akridge will split a key Metro-owned property near Nationals Park under a proposed legal settlement. [...] Monument will pay $22.6 million for a parcel on Van Street SE, while Akridge will pay $46.5 million for the Metro bus garage on the site, said Candace Smith, a WMATA spokeswoman." The Van Street site is the parking lot (Nats lot "M") just south of the Domino's site already owned by Monument. This means that the Public Space Storage building would be the only parcel on the block bounded South Capitol, Van, M and N not owned by Monument. Akridge would not gain control of the entire west side of Half Street with its acquisition of the bus garage: Monument owns the southernmost portion, directly across N Street from the ballpark, up to the alley where the On the Fly vending cart sets up shop.
UPDATE II: Here's the Metro press release.

More New Photos (and New Old Photos): Velocity
Jun 26, 2008 10:37 AM
Another project for which I've posted a bunch of new photos in the past few days is the Velocity condo building at First and L streets. It's now topped out at 13 (gasp!) floors, and the exterior facings are starting to be hung on the western and southern sides of the building. When completed next year, it will have 200 units, along with some ground-floor retail. Eventually a twin 200-unit building will be built on the northern side of the block; the garage has already been dug, and is/will be covered with a plaza area until construction is ready to start. Phase 3 of the block, along Half Street, could be office or hotel space, depending on market conditions.
This block, which the Cohen Companies purchased in 2005 for $55 million, was home to a lot of small businesses, including the nightclubs Wet, Edge, and Club 55. At the bottom of my Velocity project page, past the photos of the sales center/model, you can see additional photos of how the block used to look, including some new ones from 2003 and 2004 that I've just added. And, if all of this isn't enough and you want to see still more images of Velocity's impact on the skyline, browse its Expanded Project Archive.
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