WASHINGTON, DC | Development News

[Eightball]

2014 Could Be The Year of the Renter at New Buildings
http://dc.urbanturf.com/articles/blo...he_renter/7928

It seems that everywhere you look in the DC area, there is a new rental project sprouting up. The result of all the construction is a supply level that is outstripping demand in the region. And that is a good thing for renters moving into new buildings next year.

Free rent, free parking and other concessions should be expected as new projects look to entice renters with concessions in 2014.

“We got a little ahead of ourselves and produced a few too many units too quickly,” said Grant Montgomery, who leads apartment research at real estate research firm Delta Associates. As a result, he said the DC market may be heading into “a couple-year period or so where renters will be more in the driver’s seat than they have in the past.”

A fourth-quarter report due out in January will likely show an uptick in the concession trend, Montgomery said. That trend is in line with other notable changes in the new apartment market for the DC area, where rents dropped this year for the first time since 2009.

The last time the concession trend in the DC area was in full swing was four years ago.

[dc_denizen]

* edit: project already posted *

[202_Cyclist]

Here are two photos of the Park Chelsea development located new tho New Jersey Ave, SE (http://www.parkchelseadc.com/) that I took last weekend.





The second phase of this development will have a Whole Foods. JD Land (http://www.jdland.com/dc/index.cfm/3...le-Yards-Doin/) has an update about the financing for this development.

"WC Smith has lined up $87 million in financing for its planned apartment building at 800 New Jersey Ave., better known as the home-to-be of Whole Foods. Construction is expected to start next year, just north of the currently climbing Park Chelsea."

[dlg569]

Seems like the best use of space would be to reconnect the two triangles into a square and have PA Ave the outside border of the square.

Originally Posted by 202_Cyclist

Plans Unveiled for Redesign of Eastern Market Metro Plaza

By Larry Janezich
Dec. 12, 2013


Image courtesy of the Capitol Hill Corner.


Image courtesy of the Capitol Hill Corner.

"Last night, at the second of two community meetings called for this purpose, Amy Weinstein of Esocoff & Associates unveiled two concepts for the redesign of all of the public lands on Pennsylvania Avenue between 7th and 9th Streets, SE. The parcels include the Eastern Market Metro Plaza, the large triangular park between 8th and 9th Streets on the north side of Pennsylvania Avenue, the two smaller triangular island parks at the intersections of the two D Streets and 8th Street, and the median strips.

Both concepts are comprised of numerous individual components which are being submitted to the community for input. Barracks Row Main Street’s David Perry, who hosted the meeting, characterized the plans as being in the early stages and far from definitive..."

http://capitolhillcorner.org/2013/12...t-metro-plaza/

[RCDC]

Originally Posted by dlg569

Seems like the best use of space would be to reconnect the two triangles into a square and have PA Ave the outside border of the square.

This is OT but I always thought the "grand boulevards" in Capitol Hill were kinda absurd given the whole area is 2 or 3 story houses, but Penn Ave SE is singularly awful imo. At the very least it would be nice to see it configured like the other boulevards, with the street in the R.O.W. center, wide sidewalks with generous planting areas, and as you mentioned diverting around the squares. But it seems Penn Ave is going to remain a speedway to the burbs.

[202_Cyclist]

Originally Posted by RCDC

This is OT but I always thought the "grand boulevards" in Capitol Hill were kinda absurd given the whole area is 2 or 3 story houses, but Penn Ave SE is singularly awful imo. At the very least it would be nice to see it configured like the other boulevards, with the street in the R.O.W. center, wide sidewalks with generous planting areas, and as you mentioned diverting around the squares. But it seems Penn Ave is going to remain a speedway to the burbs.

I agree but there is some infill development right now around Potomac Ave that is modestly taller 4-5 floors and hopefully the Hine School is redeveloped without any continued delays. This might improve PA Ave SE a bit.

[202_Cyclist]

The website linked below has images but they are too large to post here. We went to Cactus Cantina last night and I just got a quick glimpse of the south parcel and it looks like the Giant store is already two floors above ground.

Cathedral Commons Construction Update

"Concrete has completed on the South Parcel. Load bearing walls have been installed for the residential units. We are in the process of installing steel throughout the Giant retail space. Tower Crane number 1 will be taken down on 11/25/13. Our first pour of the 2nd floor of the North Parcel took place on 11/21/13. Concrete activities will finish in Mid-December.

Utility work is ongoing in Idaho South. By Mid-December we will be doing utility work in the intersection of Idaho and Newark. Utility work on Idaho North is scheduled to commence after the new year..."

http://blog.bozzuto.com/washington-d...tion-update-2/



.

[RCDC]

Originally Posted by 202_Cyclist

I agree but there is some infill development right now around Potomac Ave that is modestly taller 4-5 floors and hopefully the Hine School is redeveloped without any continued delays. This might improve PA Ave SE a bit.

The one at Potomac Ave. came out decent enough, a little bland and some more floors wouldn't have hurt but at least it has some presence. There's great potential to do something dramatic at the McDonald's and car lot at Barney Circle.

[202_Cyclist]

There is a lot going on along the Wisconsin Avenue corridor now with the Giant development, the American University law school construction, the Babe's development that will begin soon, the proposed mixed-use Safeway and potentially this Martens site.

Dealership’s sale may spark development

By Katie Pearce
Northwest Current
December 4, 2013

"Ownership changes at a Tenleytown car dealership may usher in bigger development plans for its 4800 Wisconsin Ave. site.

The long-running Martens Volvo-Volkswagen sold its Volvo arm this fall to Euro Motorcars, which plans to relocate the dealership to Bethesda next year. Meanwhile, a developer has floated early ideas for a new mixed-use building for the Tenleytown site, about a decade after another development proposal fizzled out.

BMC Properties has informally shared “very preliminary” plans for a five- or six-story residential building with ground-floor retail, according to Jonathan Bender, who chairs the Tenleytown/Friendship Heights advisory neighborhood commission..."

http://www.currentnewspapers.com/adm...12-04-2013.pdf

[PremierAtlanta]

Originally Posted by 202_Cyclist

There is a lot going on along the Wisconsin Avenue corridor now with the Giant development, the American University law school construction, the Babe's development that will begin soon, the proposed mixed-use Safeway and potentially this Martens site.

Dealership’s sale may spark development

By Katie Pearce
Northwest Current
December 4, 2013

"Ownership changes at a Tenleytown car dealership may usher in bigger development plans for its 4800 Wisconsin Ave. site.

The long-running Martens Volvo-Volkswagen sold its Volvo arm this fall to Euro Motorcars, which plans to relocate the dealership to Bethesda next year. Meanwhile, a developer has floated early ideas for a new mixed-use building for the Tenleytown site, about a decade after another development proposal fizzled out.

BMC Properties has informally shared “very preliminary” plans for a five- or six-story residential building with ground-floor retail, according to Jonathan Bender, who chairs the Tenleytown/Friendship Heights advisory neighborhood commission..."

http://www.currentnewspapers.com/adm...12-04-2013.pdf

I'm really excited to read about this potential redevelopment of this parcel. Especially considering it's not to terribly far from Potomac. Although Potomac Village is available, it will be good to have options.
I

[Eightball]

Rode by CityCenter today on the bus and it is looking niiice. The retail bays especially, shiny chrome/metal and high end glass. Love it.

[202_Cyclist]

Originally Posted by Eightball

Rode by CityCenter today on the bus and it is looking niiice. The retail bays especially, shiny chrome/metal and high end glass. Love it.

Agreed! I walked back with a couple of coworkers from our office holiday lunch yesterday and I am impressed with it. It is much better than both the old convention center and the interim surface parking lot.

I was thinking that DC's tax-base is going to expand significantly over the next decade with all of these high-end residential units (City Center, FBI site, redevelopment of 14th & U Street, the Georgetown heating plant). More revenue to help finance the construction of the streetcars!

[Eightball]

Exciting times in DC! And don't forget the continued gentrification/improvements of Benning Rd, Anacostia and other neighborhoods EOTR and the Fort Totten/Arboreteum area.

Hopefully they keep their foot on the gas with regard to streetcar construction.

[202_Cyclist]

Both the Washington Business Journal and JD Land note that construction will begin early next year on a 324-unit residential building with 11,000 square feet of retail on New Jersey Avenue, SE, right next to the metro station entrance at NJ Ave/M Street.

JD Land notes:

"If they do intend to get underway next year, that brings the total of new residential units expected in the neighborhood over the next two years to nearly 1,900, with Twelve12, River Parc, and the Park Chelsea already out of the ground and Yards/Parcel N, 800 New Jersey and now this Donohoe project in the lineup to start in 2014..."

http://www.jdland.com/dc/index.cfm/3...Start-in-2014/


Donohoe to build residential atop Navy Yard Metro

Michael Neibauer
Washington Business Journal
Dec. 19, 2013

"The Donohoe Cos. has settled on apartments for 1111 New Jersey Ave. SE, the prime real estate atop the Navy Yard Metro Station.

Not surprisingly, Donohoe Construction, an arm of the Donohoe Cos., was recently awarded general contracting responsibilities for the Gallery at Capitol Riverfront, a planned 13-story, 324-unit apartment building a block from Nationals Park. The project will include 11,049 square feet of ground floor retail and 213 below ground parking spaces.

Donohoe had originally proposed a 200,000-square-foot office building for the site at New Jersey Avenue and M Street SE, but that was before it acquired the remainder of the block, including St. Matthews Baptist Church at 1105 New Jersey Ave. Robert Donohoe, vice president of The Donohoe Cos., said work is scheduled to begin in the first quarter of 2014, with delivery in 2016..."

http://www.bizjournals.com/washingto...atop-navy.html

[dlg569]

The car lot at Barney Circle is slated for a 4 story apt bldg called 1600 Pa Ave SE. The former dominoes pizza site at 15 and PA is set for condos. Construction on both is allegedly starting in 2014.

Originally Posted by RCDC

The one at Potomac Ave. came out decent enough, a little bland and some more floors wouldn't have hurt but at least it has some presence. There's great potential to do something dramatic at the McDonald's and car lot at Barney Circle.

[202_Cyclist]

This is a great Christmas gift. "The Forrestal complex would be demolished which would allow new streets to be introduced to the area, including Virginia Avenue and Maryland Avenue."

NCPC Recommendations for 10th Street Corridor Improvements

Southwest, the Little Quadrant that Could
December 23, 2013

"The National Capital Planning Commission (NCPC) held a public meeting on December 4th to discuss its preliminary long-term and interim recommendations for the 10th Street corridor as a part of the SW Ecodistrict. There are several initiatives simultaneously underway in the general vicinity of the project area. Within the larger SW Ecodistrict area is Federal Triangle South, where GSA will soon issue a Request for Proposals (RFP) to redevelop five parcels it owns from 12th Street to the west, to 6th Street to the east, to Independence Avenue to the north, to Maryland Avenue and a portion of D Street to the south. The northern portion of 10th Street is included within Federal Triangle South. The Office of Planning recently conducted a Small Area Plan for Maryland Avenue, which will intersect with 10th Street when the historic L’Enfant roadway is reconstructed. DDOT is currently undertaking a year-long transportation study of Maryland Avenue. A new SW Business Improvement District, which includes the SW Ecodistrict boundaries, is in the process of being formed and if approved, will begin services next spring. Just to the north of the SW Ecodistrict, the Smithsonian is working on a master plan to improve the southern section of the National Mall in the vicinity of the Smithsonian Castle. Slides from the December 4 NCPC presentation are available here...."

http://southwestquadrant.blogspot.co...-for-10th.html

[toxteth o'grady]

"It seems that everywhere you look in the DC area, there is a new rental project sprouting up. The result of all the construction is a supply level that is outstripping demand in the region. And that is a good thing for renters moving into new buildings next year."

My observation is that even with this looming supply overhang, entry-level rents in DC are still about $500 to $1000 a month more than similar rents in Houston and Dallas-Fort Worth. The Year of the Renter can't come soon enough.

[202_Cyclist]

Originally Posted by toxteth o'grady

"It seems that everywhere you look in the DC area, there is a new rental project sprouting up. The result of all the construction is a supply level that is outstripping demand in the region. And that is a good thing for renters moving into new buildings next year."

My observation is that even with this looming supply overhang, entry-level rents in DC are still about $500 to $1000 a month more than similar rents in Houston and Dallas-Fort Worth. The Year of the Renter can't come soon enough.

I absolutely agree. George Mason U.'s Center for Regional Analysis recently published a report detailing the Washington's long-term need for housing based on forecasted job growth for the next 2-3 decades.

This why'll so why the Height Act needs to be relaxed outside of the downtown core.

[202_Cyclist]

Work underway on apartments at Hilton site

By Brady Holt
Northwest Current
12/25/13

"Early phases of construction have begun on a long-planned residential component to the Washington Hilton property, with developers preparing an 11-story modern apartment building at Florida Avenue and T Street.

The apartment house, with roughly 200 units, will sit in the open space behind the hotel. The new building is designed to emulate the Hilton, roughly mirroring its height and semicircle shape — essentially creating a complete circle in the process.

The rear of the new apartment building, facing the hotel, will be metal and “mimics the square modular rhythm of the hotel,” Mark Rivers of development partner Lowe Enterprises told the Adams Morgan advisory neighborhood commission Dec. 4. The front, facing Florida and T, will be an “almost entirely glass curtain wall...”

http://www.currentnewspapers.com/adm...12-25-2013.pdf

[Eightball]

Originally Posted by 202_Cyclist

I absolutely agree. George Mason U.'s Center for Regional Analysis recently published a report detailing the Washington's long-term need for housing based on forecasted job growth for the next 2-3 decades.

This why'll so why the Height Act needs to be relaxed outside of the downtown core.

Yes, more supply (and height!) please. Only thing keeping us from SF style rents is the large amount of construction.

The apartments at the Hilton sound great.