Since January, 2003
            
 Sliding from Before to After

WBJ reports today that three developers have submitted proposals to WMATA for projects on what's known as the Navy Yard Chiller Plant site, on the southwest corner of Half and L, SE.
Sayeth Michael Neibauer: "Akridge wants to build office there. Trammell Crow has bid to construct a residential building, as has a joint venture of MRP Realty and CAS Riegler. All three buildings feature ground floor retail."
Apparently the next step will be public forums "to gauge community interest" in the proposals, and WBJ says that Metro is looking to make selections as soon as mid-summer.
This is not the first time that WMATA has looked to redevelop this 14,000-sq-ft parcel, but a two-year negotiation with Donatelli broke off in 2010 when the developer pulled the plug on a planned 84-unit condo building, saying that the neighborhood was "getting saturated" with residential and that "it didn't look like condominiums were a viable alternative."
WMATA has been looking to get this lot developed since 2006, and you can relive all the twists and turns through my many posts on the subject.
Most likely any developer chosen would buy the 7,700-sq-ft lot with the two-story building next door (which has a big For Sale sign draped on its western side) to expand the site. (That building has quite a history, for those who weren't around for my post on it back in 2010.)
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ValveetaChz says: (3/25/14 6:53 PM)
Seriously? Akridge? How about they finish the Half Street Project first before they take on anything new in Navy Yard???


dbt says: (3/26/14 1:25 PM)
I had exactly the same thought about Akridge. You would think that turning a low-revenue property (Half Street) into a high-revenue one by building something would trump buying more property to sit on, but it seems you'd be wrong in their case.


SWag says: (3/26/14 1:41 PM)
With all the visitors that come up and down half street every home game, and the 1,000 or so new residents the city is adding every month - you would think the Half St residential parcels would have no problem leasing/selling out! Navy Yard is hot! Helloooo? What exactly is the hold up? I don't know the history of Half St. development. I suppose I easily just snoop around on the site, but anyone have a quick history?

Also, I can see the logic in developing an office building on the chiller site, and not the mega project.


ZoolanderANDtheBoYz says: (3/26/14 2:38 PM)
It is a mystery. I think it has to do with Lehman brothers.
Lehman brothers was the financier for both Monument and Akridge on the half street project. I am not sure what kind of legal dispute Akridge have on the half street project. Unless JD is keeping the story to herself - All we can do is speculate and come up with our conspiracy theory.


JD says: (3/26/14 2:49 PM)
I don't think that's right about Lehman being involved in the Akridge side of Half Street--I don't ever remember Lehman being mentioned in concert with Akridge, only with Monument. And as far as I know there's no legal issue right now with Akridge's development. (Briefly there was a lawsuit by Monument when Akridge was awarded the Southeastern Bus Garage site, but that's been long over with.)

Monument got dealt a blow with both the economic collapse and the concurrent collapse of their money folks, Lehman. There's been some disentangling going on between those companies, though I think that's done now.

Both Monument and Akridge also bought their land at the very height of the market.

There were rumors at one time that Akridge was/is holding out for building the entire site at once, and since they aren't getting the office space leased, they can't move forward.

Beyond that, I don't really know what the deal is. Maybe someone more on the inside of CRE has some insight.


JD says: (3/26/14 2:53 PM)
I should also say, though, that I do hear through the grapevine that some financing types do look at the neighborhood and feel that it is perhaps getting a bit bubbly for residential. Might not be quite so easy to get financing when the banks see all the units currently under construction....



MJM says: (3/26/14 3:17 PM)
They are missing out if they don't build residential. As mentioned above the new people have to live somewhere. Condos have no problem going up elsewhere in the city. Akridge is probably the worst choice to build there. I can't think of another company in Dc that owns so many vacant plots of land. They are probably eyeing that spot as an extension of the Fairgrounds for the next five years until they can get financing to build.


JES says: (3/28/14 11:38 AM)
Bullish on residential?

link


JES says: (3/28/14 11:39 AM)
*Bubblish, excuse me

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1100 2ND PL SE   
04/10/19 
SQUARE 769N OWNER LLC / FRANK CAVANAGH; X
SG1900275 / CONSTRUCTION
Install one building sign
1331 4TH ST SE CU   
04/01/19 
FC 1331 LLC / null
P1905037 / SUPPLEMENTAL
1000 5TH ST SE   
04/09/19 
UNITED STATES OF AMERICA / TANYA HILL
B1906864 / CONSTRUCTION
***DGS REPLACEMENT OF EXISTING SINKS WITH NEW SINKS AND CABINETS AT THE DAYCARE SPACES. REVISION OF EXISTING WATER SUPPLY AND WASTE PIPES FOR NEW SINKS.
   
04/13/19 
UNITED STATES OF AMERICA / null
E1906382 / SUPPLEMENTAL
   
04/17/19 
UNITED STATES OF AMERICA / FRANKLIN T GAINES
P1905523 / SUPPLEMENTAL
1003 5TH ST SE   
04/19/19 
MICHIKO BONAWITZ / DOUGLAS IAN BONAWITZ
F1900293 / CONSTRUCTION
Put in an iron fence 3feet high and gate by R & F Metals.
150 I ST SE BASE   
04/09/19 
null
E1906206 / SUPPLEMENTAL
150 I ST SE   
04/01/19 
PEPCO UTILITY WORK / MIKE BOONE
AH1900707 / CONSTRUCTION
PEPCO-WR#3518247-ALLEN / POWER COMM-CREWS TO INSTALL TRANSFORMER / CABLE MON-SAT.
250 M ST SE   
04/15/19 
SQUARE 769 LLC / STEVEN CHEN
AH1900779 / CONSTRUCTION
Work Onsite Only - Emancipation Day
   
04/18/19 
BAKER DC LLC / CHRISTINE LONG
TC1900019 / CONSTRUCTION
Permit for Baker DC LLC to temp erect tower crane on private property
300 M ST SE   
04/01/19 
FEDERAL CENTER, LP / SAM HOLLEN
B1907517 / CONSTRUCTION
INTERIOR RENOVATION TO 2ND FLOOR OFFICE SPACE.  PARTITIONS, FURNITURE, MECHANICAL, ELECTRICAL AND LIFE SAFETY.  980 SQUARE FEET. ICI SERVICES
   
04/02/19 
FEDERAL CENTER, LP / SAM HOLLEN
B1907519 / CONSTRUCTION
INTERIOR RENOVATION TO 8TH FLOOR OFFICE SPACE.  PARTITIONS, FURNITURE, MEP AND LIFE SAFETY.  990 SQUARE FEET. ICI SERVICES
880 NEW JERSEY AVE SE   
04/19/19 
880 NEW JERSEY AVE LLC / JAMES W LASHER
E1906502 / SUPPLEMENTAL
1200 NEW JERSEY AVE SE   
04/15/19 
EARL MITCHELL / null
E1906389 / SUPPLEMENTAL
1100 NEW JERSEY AVE SE   
04/09/19 
SQUARE 742 LLC / MICHAEL ZEARING
AN1900118 / CONSTRUCTION
Remove (3) (E) 2.5GHz RFS (APXVTM14-C-120) Panel Antennas with Associated Cabling Remove (3) (E) 2.5GHz Alcatel Lucent (TD-RRH8x20-2500) RRH's with associated cabling Contractor to verify existing mount and if necessary replace with 3.5" OD x 8' SCH. 40 Pipe per Sprint standards Install (3) (N) 2.5GHz Nokia Airscale MAA 64T64R 128AE B41 120 AAHC MIMO Antennas Install (3) (N) MIMO Mounting Br...
125 O ST SE   
04/18/19 
DISTRICT OF COLUMBIA / BILL SAUNDERS; TBD
B1908317 / CONSTRUCTION
ADD 1 RESERVE TANK TO CLEAN AGENT FIRE SYSTEM.
AH = After Hours; B = Alteration & Repair; D = Demolition; E = Electrical; FB = Boiler; M = Mechanical; P = Plumbing and Gas; PC = Post Card; R = Raze; SG = Sign; TL = Tenant Layout; TN = Tent; RW = Retaining Wall;

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