Since January, 2003
            
 Sliding from Before to After

Jonathan O'Connell of the Post has just sent out two tweets saying that the DC Housing Finance Agency and Forest City Washington have closed a deal to finance the affordable housing component of the Foundry Lofts project at The Yards, which will allow this stalled renovation of the old Building 160 (stopped in late 2008 when the original affordable housing financing fell through) to restart within the next two to three weeks. The building, when completed, will have 170 residential units, 34 of which are slated for tenants earning less than 50 percent of the area median income. The old industrial building, which will also get two new floors on top and will have 10,000 square feet of ground-floor retail, sits two blocks east of Nationals Park, between the US Department of Transportation headquarters and the soon-to-open Yards Park on the Anacostia River. My understanding has been that, once restarted, it will take about a year for the building to be finished.
UPDATE: Here's a WBJ story with more information on the bond financing that was pulled together, not only for the Foundry Lofts but other projects in the city that needed money to start and/or finish apartment projects with affordable housing.
UPDATE II: And here's the full WashPost story. And Forest City's press release.
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AJ says: (8/19/10 3:20 PM)
This is excellent news! Do you know if the 10,000sq ft of retail is the same space that Harris Teeter was looking at in the Yards Construction?


JD says: (8/19/10 3:22 PM)
No, 10,000 sq ft is nowhere near big enough for a grocery store. Harris Teeter is said to be going into the ground floor of a planned new-construction building on the southeast corner of 4th and M (401 M Street): link I wouldn't expect that building before 2013.


AJ says: (8/19/10 3:24 PM)
Ah ha! Thanks for the quick response JD. A man can hope though right? :)

Thanks again for all you do on this blog. As a Navy Yard/Riverfront resident for 2 years now, this site is a godsend!


JD says: (8/19/10 3:27 PM)
Next thing to watch will be whether this movement on the Foundry Lofts lights a fire under enough retailers interested in the Boilermaker Shops building just to the north to finally get enough signed commitments to get that project started. (They already have over 50%, I believe, but in this climate, that's not enough to secure construction financing.)


Katie B. says: (8/19/10 3:33 PM)
Would the Foundry Lofts be rentals?


JD says: (8/19/10 3:34 PM)
Yes, rentals. (DC-area shorthand is that usually "apartment building" means rentals, otherwise it'd be called a condo buildin.)


Genghis khan says: (8/19/10 3:50 PM)
I doubt it.


F says: (8/19/10 4:00 PM)
The Park at the Yards and this development should start getting retailers attention. Phase 2 at CQ will hopefully show signs of construction activity in a few weeks. Coupled with the nearing completion of the 1015 Half St, there are some positive developments happening in Near SE.


MJM says: (8/19/10 4:08 PM)
Nice! The folks that live in that spot will be in a great area by the end of next year with both the Yards Park completed and hopefully the Boilermaker (according to the Yards website end of 2011).


Sophiamonster says: (8/20/10 11:32 AM)
Is this still and P.N. Hoffman joint venture? I can't wait to see what those top units will look like.


JD says: (8/20/10 11:33 AM)
No, the PN Hoffman joint venture (presuming it's still on) is the Factory 202 lofts, in the old Gun Mount building at 5th and M. No timeline on that one.


BD says: (8/20/10 1:22 PM)
The only thing I've been able to find on the Factory 202 building is that the Capitol Riverfront website has updated the delivery date to "2015+". It's not apparent where they got that target date from, as the official Yards website is still showing 2011. Might want to take down those "Coming in 2011" banners...


MJM says: (8/20/10 2:10 PM)
The Yards webpage shows Phase 1 as 2012-2014 so 2015 is probably more of a realty. Either way, its gonna be a lot of slow growth until this pseudo double dip recovery ends.


JD says: (8/20/10 2:21 PM)
Or, you guys could just make it easier on yourselves, and assume that there are *no* estimated delivery dates for any project that hasn't had actual start of construction announced.

All dates you see anywhere are from another time and era. The best thing to do is to now consider everything at an equal we'll-see-it-when-we-see-it starting line. You can't even assume anymore that projects announced before 2008 will even go forward in their original incarnation. There are lots of pretty ideas and crossed fingers on development maps, but trying to divine when projects will be completed (and what they'll actually *be* when completed) is little more than a parlor game at this point.

(Sorry for the rant--just getting a bit exasperated with people continuing to try to figure out completion dates for any project that doesn't have announced funding. Any date a developer puts on their web site is more along the lines of "if you sign a lease or give us money to build, we can be done by x date." This isn't 2006 anymore....)

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1300 4TH ST SE 1001   
02/22/21 
AP BOWER RETAIL LLC / null
E2104231 / SUPPLEMENTAL
1346 4TH ST SE APT 1M   
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null / NA NA NA
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01/29/21 
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02/16/21 
CXS TRANSPORTATION INC / VICTORIA STEINHOFF; TBD
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