The City Market at O may have been the first mixed-use development of its kind (read: gigundo) to grace the streets of Shaw, but my friends, I am here to tell you that the arrival of that leviathan was just the beginning. The Atlantic Plumbing condos, set to deliver in spring of 2015, will have 62 one- and two- bedroom condo units, multiple rooftop terraces, an in-house gym, and a variety of eateries – a complex certainly on par with its nearby competition. Condo pricing begins in the upper 300’s, but skyrockets up to nearly 2 million. (Either that’s going to be one hell of a 2-bedroom, or developers The JBG Cos. and Walton Street Capital LLC are holding out on some of the details.) The building described (and pictured) above will be at 2030 8th St. NW; next to it, at 807 V St. NW, will be 300 luxury rental units, even more retail, and a Landmark Movie Theater. Shaw is going to be pretty much unrecognizable before the decade is out.
Every now and then, I like to give my readers a glimpse of what my business looks like on the ground. Here are some photo highlights of the home my buyers closed on yesterday. This property is in the booming H Street/Atlas District neighborhood, and could not be more perfect for this fun-loving, cosmopolitan couple! Take a peek, and give me a shout when you’re ready for me to help you find your fabulous new home!
Last week I joined the ladies of WLJA-TV’s Let’s Talk Live morning show to discuss the recent report that DC is the most expensive city to live in. I had a LOT to say on the subject; watch now to find out more!
If you’ve been looking in vain for a condo in the U Street area, I’ve got good news for you – a whole bunch of new inventory is about to open up! Sales for The Hatton, at 1921 8th St. NW, will be opening up this fall, and move-ins will start as early as Spring 2015.
The five-story mixed-use building will have 245 condos and 28K sf of retail spread across a single floor. The units will range from studios to two-bedrooms, and prices will start in the high $300s. There will even be parking! 29 underground spaces. If you’d like more info or want to go take a look when they open up sales, let me know!
Check out my latest video for a tour of my top 5 eats on the Hill! And when I say the Hill, I don’t mean the new borders (from the Capitol all the way to the Anacostia.) I just mean the area from the Capitol down to 7th SE. My favorite eats on Barracks Row and at Eastern Market will each get their own videos in the near future – there are just too many good eats in this area to smush them all into one video!
Once considered the Bourbon Street of DC, Adams Morgan is undergoing a huge renaissance that is rapidly making it one of the hottest neighborhoods in DC to buy in. In addition to all of the fantastic new restaurants that have opened in the area like Mintwood Place and Roofers Union, sophisticated residential development is — through the area like wildfire. UrbanTurf just did a fantastic round up of the various residential developments slated for the neighborhood. Take a look, and let me know if you’d like more information on these buildings or other listings in the area!
From time to time, UrbanTurf takes a look at residential developments that are on tap for neighborhoods across DC. For this installment, we focus on the projects coming to Adams Morgan.
The Adamo is a 34-unit condo project in the works for the former site of an Exxon gas station in Adams Morgan. The project will have 8,600 square feet of ground floor retail and 27 underground parking spaces. Designed by PGN Architects, the building is being sold and marketed by Urban Pace. The Adamo is schedule to deliver in May 2015.
Courtesy of Square 134 Architects.
A nine-unit condo project is planned for the 18th Street building currently home to the Latino Economic Development Corporation. After a demolition of the existing four-story structure, the plan is to build two one-bedroom units per floor on the first three levels, and two, two-story one-bedrooms, as well as a studio, on the two highest levels. The top units will each have a private rooftop deck.
Ontario 17 is a six-story mixed-use condo project from the Peterson Companies and Ellisdale Construction currently under construction on the site of the former Ontario Theater. When complete, the project will feature 9,000 square feet of retail space and 80 condos, including studios from 370 square feet, one-bedrooms from 675 square feet, and two-bedrooms from 980 square feet. Prices start in the high $200,000s for studios, and the anticipated delivery for the project is 2015. Sales are being handled by McWilliams|Ballard.
Elevation of project along Florida Avenue
A property near the intersection of Florida Avenue and 18th Street NW that changed hands earlier this year will be redeveloped into 130-145 residential units by Kettler. The lot currently houses a dog daycare and boarding facility, and Kettler is in the process of seeking variances from the Board of Zoning Adjustment in order to begin construction on the building. The project was designed by R2:L Architects.
Construction on a planned hotel in Adams Morgan, The Line DC, is scheduled to begin by the end of the summer. The 220-room hotel will be built into an existing church, and a new building housing the rooms will be constructed behind the church on the site of the former City Paper headquarters. To get a glimpse of what the end product might look like when it’s completed,check out our report on it here.
The Dorchester House – 2480 16th Street NW
A 117-unit addition is currently being built adjacent to The Dorchester House on Kalorama Road. to an existing nine-story concrete building. The project will rise four stories, and there will be two levels of underground parking. The unit types will be studios, one-bedrooms and two-bedrooms. The project is scheduled to deliver in January 2015.
Check out my monthly “Ask Alia” residential real estate advice segment at Curbed DC! Here’s an excerpt from this week’s post:
I would be interested in your thoughts on how all of the development in the District will affect townhouse prices over the next couple years. Simple economics would suggest that the increase in supply should reduce prices. However, the new housing stock seems to be largely condo/apartments, so townhouses may be a unique market that could appreciate more (relative increase in scarcity to condos). Also, the new development could create even more demand through pure momentum. As someone renting right now, I’d love to hear your thoughts on whether I should buy a townhouse now or wait for potentially lower relative prices in the future.
I think your analysis is spot-on (are Brits the only ones who can get away with saying that?), but your conclusion could use a tweak. Yes, I do think that the supply of “authentic” (meaning still containing a significant part of the original structure – so not new construction, and not fully gutted and rehabbed) townhomes is decreasing, and I explain why below. But, that means that the pricetags on these townhomes are going to go up, not down. So if you’re looking to take advantage of relatively lower prices, now would be the time to buy, before these townhomes become a rare commodity.
D.C.’s condo inventory is still lower than current demand, so a lot of the new inventory coming on the market consists of condos as developers rush to fill that gap. Also, some new construction is being made to mimic townhomes, or else historic facades are maintained while interiors are gutted and modernized. So, authentic townhomes will be in relatively lower supply as other types of inventory increase, and as more historic properties are gutted and rehabbed, the absolute number of authentic townhomes will decrease, too.
So, does all of that mean that you should buy an authentic townhome now? Well, I definitely think those are good reasons, but they’re just part of the analysis. The fact that mortgage rates are slowly but surely on the rise is another reason why potential buyers should seriously consider making a move sooner rather than later. And above all, the most important consideration is your personal financial situation, and whether it makes sense for you to buy now or wait until your nest egg is a little bit bigger.