Showing posts with label Rhode Island Ave.. Show all posts
Showing posts with label Rhode Island Ave.. Show all posts

Wednesday, October 31, 2012

You could call it a vindication. Or you could simply say the market finally changed.

Either way, Jim Abdo says he’s got revamped plans for the property he owns at 1427 and 1429 Rhode Island Avenue NW, the only vacant lot on that block and one of the few left in the neighborhood. The Logan Circle-based developer had been planning on erecting a 70-something unit apartment building there, but ran into opposition from neighbors due to its size. As of this past February, he had backed off from the project entirely.

The lot as it currently appears
Now he says he’s got new plans for the lot, which backs up to the P Street Whole Foods Market. Due to a steadily improving housing market and the increased availability of financing for condo construction, Abdo has returned to the plan he says he’d initially envisioned for the property before the economy tanked: a high-end condo building containing just a few units.

“My vision has always been a boutique building with a small number of units,” explained Abdo. “And every day and month I wait, the market comes back in my favor to do what I want. We think it’s a win-win for everyone, and it’s what the neighborhood will embrace.”

Abdo didn’t provide many details about what he has in mind, as the project hasn’t gone far beyond the basic concept stage. But he says he’s imagining a 90-foot high building that contains nine or ten units, each taking up an entire floor and potentially reached by elevators that open directly into the units.

That’s a big difference from the property’s previous iteration, which was an eight-story rental building conceived of at a time when condo financing was almost nonexistent. Although the design earned approvals from the Historic Preservation Review Board, neighbors objected to its density and Abdo eventually withdrew his plans.

The lot with its prior structures, which were knocked down in 2007
“I said, ‘Let’s revisit this thing,’” he explained.

Nothing’s happening anytime soon. The developer, who bought the property in 2001, says the company probably won’t start moving on the project until 2014. At that point, in-house architects will begin putting together design ideas and he’ll reach out to HPRB and the community.

It’s not like the firm doesn’t have enough going on as it is. Besides projects in Brookland and Arlington, Abdo is also planning to develop a spot a few dozen feet to the east: 1400 14th Street, a corner lot at the intersection of 14th Street and Rhode Island Avenue that currently includes a Caribou Coffee and Abdo’s own office (and next to the DCMud office). That project—a six-story building to include ground floor retail, one floor of offices, and some 30 residences—received HPRB approval a couple of months ago. Groundbreaking is set for next year.

That turns the block of Rhode Island between 14th and 15th streets a mini Abdo-ville. The developer owns another property on the block, and developed the two condo buildings framing the empty lot—the Zenith and the Willison—more than a decade ago.

Washington, D.C., real estate development news

Thursday, August 30, 2012


Despite its intense building spree over the past couple of years, the DC Public Library system isn’t quite finished. A final big project included in the budget for the city’s rebuilding of existing libraries is a redo of the Woodridge Library, located on Rhode Island Avenue in Northeast DC. On Monday night, architects Bing Thom and Wienceck + Associates met with local residents to introduce the new plans, which showed a three-story building with a roof deck, windows overlooking nearby Langdon Park, and a potential adjoining café.

The meeting, held at the existing library, was crowded with roughly 50 residents, according to library spokesman George Williams. Many had submitted suggestions earlier in the year for what they’d like to see in a new facility: a business center that included a fax machine, up-to-date books, more sitting areas, and better computers, lighting and restrooms.

The designs incorporated some of those hopes. While the skin of the building isn’t visible in the drawings and 3-D models, the structure is clearly airy, open and organic. From the outside, the facility’s most notable feature is its broad roof, designed to glow at night.  Internally, a series of balconies open the atmosphere, and a circular third story reading room looks out on a wide terrace largely shaded by the trellaced roof. Throughout the structure, southeastern walls are lined with windows to take advantage of the green hills of adjacent Langdon Park.

There are still lots of maybes on the table—like whether the facility will include that café, something residents throughout the city have clamored for in their libraries, but which doesn’t yet exist in any of the new structures. The architects would also like to close Hamlin Street, an east-west artery that runs just in front of the library, and create a public plaza instead. Williams said that library officials are discussing the issue with other government departments - and are also talking about how many parking spots can be accommodated on the site.





The presentation was largely well received by residents, who are by all accounts eager to see their library transform like so many others in the city. The only library within miles, the Woodridge facility is a squat, two-story brick structure built in 1958 that encompasses about 19,500 square feet. The new structure, which is fully funded at $16.5 million, would be approximately 22,500 s.f.

Library advocates and Rhode Island Avenue residents rejoiced when the architecture team was announced in April. Bing Thom, based in Canada, is responsible for the much-heralded renovated Arena Stage in Southwest, and the local Wienceck + Associates built the new Francis Gregory and Washington Highlands libraries. The Friends of Woodridge Library held a “meet and greet” to introduce Thom to the community in May, and Chief Librarian Ginnie Cooper traveled to British Columbia earlier this month to examine a library designed by Thom there.

Demolition is scheduled to begin next summer. The new library is slated to open in 2015.

Correction: The library is a two-story structure. The original post described it as having only one story.

Washington D.C. real estate development news

Thursday, March 8, 2012

After years of urban planning-speak about the untapped potential of Rhode Island Avenue, many false starts notwithstanding, its first major project is now coming online. Rhode Island Row, the joint venture between A&R Development and Bethesda-based Urban Atlantic, is on the way to a September completion. The 8.5 acre, $109,000,000 project with 274 new residential units above 70,000 s.f. of retail broke ground in May of 2010, with some District help, and sits along a new and expanding bike trail, just a scoot away from bustling NoMa. Rhode Island Row - formerly Rhode Island Station - was designed by the (now defunct) Lessard Group, but switched to Lessard Design.

Developers completed the first few residential units in December, and have now delivered 2 of 8 phases of the two residential buildings. 59 of the units are now open, and most of those have already been leased, according to Caroline Kenney of Urban Atlantic. "There's a seriously wide mix of people geographically and demographically," she notes, and that despite the Avenue's inglorious past, "this part of the city is finally getting to be on the map." Of course being right on the red line and bike trail is not a bad marketing hook, and the development team has capitalized with "a ton of bike storage". Kenney said she hopes to have a Capital Bikeshare location on site in the future. Retail tenants are also on the way, with CVS the first to sign on. While Kenney won't divulge names of other retailers, she says 60% of the retail is unofficially spoken for. In all, the project will have 531 parking spaces, some of which will be short term retail parking, plus the new 215-space Metro garage.









Once just a theory...

Washington D.C. real estate development news

Tuesday, August 24, 2010

The corner of 4th and Rhode Island Avenue, NE, may be one of the District's least celebrated corners, but an area hitherto untapped by real estate developers, is finally getting attention. Thanks to PERS Development, a plan to remodel an abandoned 32-unit building at 329 Rhode Island Avenue NE will soon be underway, making way for "hip, boutique, luxury condominium homes." Just a few blocks east of the Rhode Island Ave - Brentwood Metro, the project will build off the local momentum of Baltimore-based A&R Development Corp's 8.5 acre, $108 million project (including 274 new residential rental units and 70,000 s.f. of ground floor retail) that broke ground this spring on the former WMATA parking lot, making the vicinity a "transit oriented developer hot spot." PERS Development is a young and ambitious team with four completed projects under their belts, and now two more in the works. All four of their finished developments have sold out, the last being Sky DC in Randall Highlands. On their four previous projects, PERS has specialized in small, moderately-priced condos. But as advertised, this endeavor seems destined to be slightly more high end than the units sold in Randall Heights for $200,000. However, while PERS President and CEO, Ramin Bassam is promising a "very, high-end boutique product," a price point between high $200,000s and $350,000 proves value also remains a priority. Marty Zupancic of Marcus & Millichap brokered the deal that sees the property travel from the reluctant hands of the previous owner Byung S. Shin of BSS Partnership to the more purposeful and enterprising hands of the developer.

The development will come as welcome news to local residents, but especially so for neighbor Steven Conn who several months ago compiled a slide show of evidence in an effort to convince DCRA that the building at 329 Rhode Island was a hindrance and hazard to the community, and therefore should be classified as "blighted." Local blogger Dan Silverman gave voice to Conn and his cause by highlighting the property with the honorable distinction of the Horse's Ass Award. The District was in the midst of designating the building as blighted and condemned only two months ago, but PERS was able to step in, usher through the necessary building improvements, and remove said designations, enabling the financing and property transaction to go through, and development plans to move forward. The top floors of the building were significantly damaged by a fire that raged in the evening hours of July 31st last summer. While the neglected building, singed, dirty, and windows boarded, is an eyesore at the moment, its proximity to the metro and its location on a highly visible island-like street corner, makes the property apparently attractive to real estate developers. In a press release, Bassam stressed that: “This project represents a great opportunity to fulfill the growing demand for luxury condominiums in the District of Columbia by delivering a high end product in an under-served submarket at a time when supply is getting tight. It has just the type of character and location that we have been looking for.”

SGA Arcitects have been contracted for the design, and initial renderings should be finalized later this week. The building will transform from a sordid blemish of a property into ultramodern, highly-wired chic condos. Each unit will be outfitted with wi-fi and iPad docking stations. Other amenities include a state-of-the-art glass-enclosed gym, a rooftop deck outfitted with a European shower, and various community lounges. Units will be planked with natural bamboo flooring. The bottom floor will reserve room for five retail tenants, an amenity that new owner Bassam says is desperately needed in the neighborhood. "A late weeknight trip to the McDonald's across the street is an at least twenty minute wait in line, there are not enough retail options at the moment," explains Bassam. The often elusive project financing of the acquisition and needed construction, normally the last piece of the development puzzle, is already in place, compliments of Bethesda-based Monument Bank.

Washington D.C. Real Estate Development News