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Near Southeast DC Past News Items: Oct 28, 2008
In the Pipeline
25 M
Yards/Parcel I
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
Thompson Hotel ('20)
West Half ('19)
Novel South Capitol ('19)
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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3 Blog Posts

Nothing in this WashTimes piece will be news for people who wander by here on a regular basis, but "Economy halts developers' ballpark plans" is a good survey that's probably still worth a read in case you've missed something. The crux is that the current economy has put an end to building on spec--"'Until you're getting your office building 70 percent leased up, you're not moving forward,' said Michael Stevens, executive director of the Capitol Riverfront Business Improvement District." And with things as they are, companies aren't moving to new office space, either. There's also this: "Monument Vice President Russell Hines said the financing difficulty is not because of pre-leasing requirements but rather demands for larger amounts of collateral on loans. Lenders once were willing to finance 75 percent of a project with only the project itself as collateral. Now, however, companies ask developers to put up additional assets to back the loan, even for just 50 percent financing."
One thing that is moving forward: Wednesday morning the mayor will be announcing a $42 million public/private deal between Forest City, the city, and the BID to build and maintain the 5.5-acre waterfront park at The Yards. The target date for the park has been mid-2009; we'll see at tomorrow's event whether that's still in the cards.
UPDATE: On his blog, Tim Lemke of the Times addresses a few issues that Forest City had with his article. And my entry on the park announcement is here.
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More posts: The Yards, Yards Park
 

Since people are talking about this in the comments on my post about the Connect Barracks Row meeting Wednesday night, it's timely to point to this Infosnack post that breaks news about the parking lot on Eighth Street under the Southeast Freeway. Apparently at last week's ANC 6B meeting DDOT informed the ANC that the Marines are going to be vacating the lot, and that DDOT is proposing "market-based pricing" of the lot, using either stick meters or multi-space meters. Read the post for more details.
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More posts: ANC News, 8th Street
 

On Monday night the Zoning Commission held a brief hearing on Case 06-32a, the request by the city to move the old Post Plant at 225 Virginia Avenue into the "Capitol South Receiving Zone," which would allow the block to receive transferable development rights, allowing greater height and density than the 6.5 FAR and 90-ft-height currently allowed.
When this was originally brought before the commission by developer Washington Telecom Associates for setdown two years ago, the Office of Planning indicated that they wouldn't support the request because of concerns about the added density on that block affecting both Canal Park to the south and Capper/Carrollsburg townhouses to the east (read the transcript for more details). Since that time, the city subleased the building (paying $500k a month in rent), but has decided not to use it to house police department functions and so is in the process of finding a developer to take over its sublease (which also has an option to buy).
In their pre-hearing report and during last night's session, OP said they are now prepared to support the move to the receiving zone, "provided that there is Zoning Commission review of the design of the portions of a building proposed to rise higher than 90' " which would confirm that the building "will be sufficiently setback from the eastern building face to avoid shadowing the lower buildings in Square 797 to the east" and that it "will provide a suitable northern focal point for the Canal Blocks Park." The OP report says that this lot would not be exempt from the city's inclusionary zoning requirements.
The three commissioners in attendance (Hood, May, and Turnbull) asked a few cursory questions, and noted that there was no report from ANC 6D nor any witnesses in support or opposition. The ZC will vote on this case at its Nov. 10 public meeting.
With the OPM page on the 225 Virginia Request for Expressions of Interest saying that notification was to have happened yesterday, I thought there was a possibility that this hearing would give us some hint as to who might be taking over the city's lease, but the Office of Planning said they didn't know who the developer might be.
 




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