District Condos Construction Monday

While the rest of the real estate world is still rubbing its eyes and trying to take stock of 2011, development work is racing ahead in some quarters. Take JBG, for instance, which let fly yesterday that it would start building Rosslyn Commons in two weeks, and today said that it and partner Grosvenor are starting work on their other high-visibility condo project - District Condos - on Monday.

A source within JBG says groundbreaking for the 125-unit, Shalom Baranes designed building, is in fact scheduled for Monday on Logan Circle's trendy 14th Street. JBG will also incorporate the former AIDs clinic at the southern end of the lot for additional retail that will wrap around the corner of S and 14th Streets. The Chevy Chase developer has teamed with Toronto-based Cecconi Simone Inc. and local retailer Vastu for interior design and finishes, respectively. Unit sizes will trend smaller than might have

been built a few years ago, with a preponderance of 1-bedroom condos, respecting the more conservative outlook (fiscal, of course) of the average buyer in the neighborhood, where turnover of small units tends to be quick even at a more pricey range than is found in adjacent neighborhoods.

JBG had earlier predicted that construction would commence at the end of 2010, and the site still has to be cleared of the buildings that are not being preserved, putting delivery well into 2012. Sales are expected to start sometime in the late spring.

Washington D.C. Real Estate Development News