The National Capital Planning Commission (NCPC), in coordination with Events DC, invite you to attend a Section 106 consultation meeting for the proposed redevelopment of the Carnegie Library at Mount Vernon Square on Wednesday, July 23, 2014 from 11am – 12:30pm. As reported last September, the redevelopment aims to relocate the Spy Museum to the Carnegie Library site. The transformation of the Carnegie Library would incorporate a new glass atrium on the north side of the building.
Earlier this month we highlighted news that Museum Square Apartments will not be renewing its Section 8 housing status. In order to adhere to the Tenant Opportunity to Purchase Act (TOPA) an offer of sale has been issued to the tenants of $250,000,000 – which equates to over $830,000 per unit. Clearly not fair market value for the existing state of the units and more of a price driven by the raze and redevelopment potential of the land. The assessed value of the property is $36 million.
Aaron Wiener of the Washington City Paper’s Housing Complex recently penned a two-part update on this situation. Part one outlined many of the details and is supported by quotes from affected residents. Part two highlights legislation At-large Councilmember David Catania is trying to push through to regulate TOPA for Section 8 housing buildings to make it adhere strictly to the assessed value. Considering Catania is the major opponent for Murial Bowser in the 2014 Mayoral election this issue could become a major political lightning rod.
The District Source reports that the landlord of the Museum Square Apartments at 401 K Street NW will not renew their Section 8 contract when it expires in September. Instead they have notified the District of a TOPA Offer of Sale with a $250,000,000 price tag. Tenants have been notified that they can purchase the building at that asking price which calculates out roughly to $830,000 per unit.
The asking price clearly is driven more by the redevelopment potential of the site than the value of the current apartment building which is assessed at $32.5 million. This would lead one to believe that this is a precursor to redevelopment. Razing and redeveloping the site, which would undoubtedly put the parking underground, could maximize the lot under zoning and potentially triple the residential density. This additional density plus the new ground floor retail mandated by the K Street overlay would do wonders for transforming the Mount Vernon Triangle into even more of a walker’s paradise.
In 2013 the Rock Creek Property Group acquired 808-810 5th St NW from Gospel Rescue Ministries for a sales price of $5.95 million. RCPG’s intent was demolish a portion of both buildings and build an eight-story rear addition for a new 50+ unit condominum development. According to the Washington Business Journal, challenges arose with the Historic Preservation Review Board (HPRB) and RCPG has elected to execute a 20 year lease agreement with the District. It will once again be operated as a homeless shelter as it had been for the prior 75 years. The Department of Human Services plans to use the first four floors to house women in the “temporary shelter model.” The fifth floor will contain units for women in the District’s transitional housing program.
The Deputy Mayor of Planning and Economic Development (DMPED) recently released a RFEI for development of Squares 0560 and 0563N near 2nd & H Streets NW. Square 0560 represents the Air Rights over I-395 above H Street that is currently occupied by a two level parking structure. Square 0563N is a triangular parcel between 2nd Street, New Jersey Ave and H Street NW that is currently a fenced in gravel parking lot.
It is not entirely clear to me whether the Air-Rights parking structure would be torn down and this project would start anew? Or if the parking structure could be reinforced to support new development above it. I would guess the later but am unsure.
RFEI submissions are due August 28th. After a short list is compiled from the submissions a formal RFP (Request for Proposals) process will begin in the fall.
The Mount Vernon Triangle Community Improvement District (MVT CID) is seeking an Economic Development and Planning Manager who will be responsible for tracking and analyzing development projects and retail opportunities, planning for transportation improvements and public realm activation, preparing and monitoring the collection of CID taxes, conducting research, writing grant applications, and other tasks. For full job posting follow this link.
Interested candidates should submit a cover letter, resume, and two references to firstname.lastname@example.org by Thursday, June 12th 2014.
On May 2nd we told you about the news that Boston Properties was entering a joint venture with Steuart Investment Co to develop an office building at 501 K Street NW. This partnership is a key step to redeveloping this premium site that has been a MarcParc parking lot for too long. While the project is still in the design phase below is an early rendering.
It was announced this morning that Mayor Gray and the Office of the Deputy Major of Planning and Economic Development (DMPED) selected the Peebles Corporation and Walker Group bid for the 5th and Eye RFP site. As we learned from the RFP Finalist presentations on Dec 19th and the Peebles bid calls for a Standard Hotel, 59 branded residences, ground floor retail, 100 off-site affordable housing units near the Anacostia metro station, and a $2,000,000 commitment to upgrade the parks (Milian and Seaton) at the 5th and Eye intersection.
On Thursday morning I received a concerned email regarding noisy late night construction at the site of the 460NYA condominiums. City Vista residents had been kept awake all night from construction noises. Irate over this disturbance they contracted DC’s illegal construction department and discovered Bozzuto had secured a permit for two months of night construction (9pm-7am from May 1st 2014- July 1st 2014).
According to the Washington Business Journal, Boston Properties paid about $39 million last month for its stake to enter a joint venture with Steuart Investment Co to develop a 520,000-square-foot office building at 501 K Street NW. This site is currently the fenced in Marc Parc parking lot between 5th and 6th Streets NW and bounded by New York Ave to the north. The potential development has been in the pipeline for Steuart Investment for years and having a proven partner should finally kickstart it into action.