According to the Washington Business Journal, The Wilkes Company and Quadrangle Development Corp, the developers behind the Mount Vernon Place master development, have finalized acquisition of two parcels on 3rd Street NW from the District. The process to acquire the parcels spanned roughly 8 years and was considerably involved due to the nature of the property abutting the west side of the I-395 highway. At various stages DDOT, the Deputy Mayor for Planning and Economic Development (DMPED), Housing and Urban Development, and the Federal Highway Administration had to be engaged to ensure the title of the land was clean and a sale could move forward.
With these key parcels now secured the residential project long planned for the east side of 3rd Street NW in the Mount Vernon Place Master Plan can now realistically move forward. This is especially good news for the Mount Carmel Baptist Church which has long been a stakeholder for this particular 320 unit residential development (20% affordable units). The church has equity in the project and will benefit from planned amenities that will include a program space for the congregation as well as 75 parking spaces dedicated for church use.