NDC's Renovates Columbia Heights Eyesore

Local developer The Neighborhood Development Company (NDC) has commenced work on Columbia Courts, an 11-unit boutique condominium project at 1225 Fairmont Street, NW in Columbia Heights.  Columbia Courts will replace the unattractive apartment building at the same address, the appearance of which has been even worse by sitting vacant and unkept.

"We just recently broke ground," says Juan Powell, Principal at NDC.  "Well, I shouldn't say break ground - we're doing a comprehensive renovation of the existing structure.  Gutting it, redoing everything.  We started renovations last month and we expect to be done by September or October."

NDC won the rights to redevelop the building at 1225 Fairmont through a competitive solicitation process overseen by the District of Columbia Department of Housing and Community Development (DHCD).  The property had previously been under the control of the Development Corporation of Columbia Heights (DCCH), which, in conjunction with five tenant households, made a winning bid of $427,000 for the property at a 2001 HUD auction.  But by 2010, the building had fallen vacant, and the District was soliciting bids for a new development.

Columbia Courts will feature a large interior landscaped courtyard, balcony units, and below-grade parking. And while all the units will be designated "affordable," they will all include finishes such as "wood floors, hard surface countertops, and stainless steel appliances."

NDC Builders, an affiliate of The Neighborhood Development Company, is the general contractor on the project, and PGN Architects spearheaded the redesign.

Washington D.C. real estate development news

Your Next Place

Yes, another penthouse.  What can I say, penthouses are spectacular!  Do you really want to read a post about a basement efficiency?  How about this, if you're really sick of penthouses, just sit down, write a letter outlining your specific objections, and then tear that letter up into little pieces and throw it away, because come on, man!  I'm doing my best here.  (Sort of.)

This spectacular two-level penthouse is the perfect intersection of quality and location.  On one hand it's got tons of windows, high ceilings, and gleaming hardwood floors.  Downstairs boasts a fireplace and a chef's kitchen, and upstairs you have three bedrooms and a stunning roof deck from which you can see the Washington Monument.  And on the other hand, it's perfectly situated just a couple blocks above U Street, and a few blocks below Columbia Heights.  Anything, literally anything, you could possibly want, you'll be able to find in one of those two neighborhoods.  Unless you're a perv, in which case you'll have to go to, like, Thailand or something?

The penthouse also comes with garage parking, and access to the enclosed courtyard below.  Also, I have reason to believe that this building is a lucky one.  True story: I attended a party here last summer where I met the girl of my dreams.  We hit it off and left together, it was perfect.  And then on the way home she got pulled over, failed her breathalyzer, spent the night in jail, and never responded to any of my subsequent texts.  So yeah, the building is lucky, the intersection down the block, not so much.

1421 Chapin Street NW PH-302
3 Bedrooms, 2.5 Baths
$754,900

Sentinel Square, Trammell Crow's Three Phase NoMa Project, Reaches Halfway Point

Trammell Crow's massive three-phase NoMa development, Sentinel Square, is officially at its precise midpoint.

"We just hit the bottom of the hole for Phase 2," says Tom Finan, Managing Director at Trammell Crow.  "Now we're starting to work our way up.  We broke ground back in February and we're on track to deliver in October 2012."

The Phase Two office building, at 1050 First Street, is slated to offer approximately 280,000 square feet of office space over twelve stories.

The Smith Group/JJR-designed building may or may not feature ground floor retail space.  "That's something we're going to look at," says Finan.  "It's going to depend on the market.  That intersection is becoming a sort of crossroads for that area, so it might be a good idea.  But as of right now, it's still up in the air."

The first phase, a similar but larger 12-story 400,000-s.f. LEED Gold office tower, also designed by Smith Group/JJR, was delivered in June 2010.  The third and final phase, another office building, is still in pre-planning stages.

"We're not going to really get down to Phase Three until we have the second phase delivered and leased and stabilized," Finan said.

Sentinel Square II was financed on spec by European companies Helaba and Nord LB, which collectively put up $181 million towards completion.  Though financing a project of this scale on spec is somewhat unusual (but so were 1812 N. Moore and CityCenter), investors were reportedly reassured by the fact that Trammell Crow has already leased 85% of Sentinel Square I, to such tenants as the Department of Veteran Affairs, and other federal agencies.

Washington D.C. real estate development news

Morning Real Estate Review

Construction up .9% in May (HousingWire)  A surge in home building led to the biggest gain in 5 months, with construction now 7% above last May's numbers.

The mother of all housing bubbles: Norway (AEI) While America's housing market has slid over the past 6 years, Norway's just keeps rising.

Supreme Court passes on RESPA case (HousingWire) The Court fails to address a 9th Circuit decision that lets a party sue under RESPA without showing actual harm.

Habitat for Humanity finishes phase of Ivy City project, starts another (Washington Post)  The new "passive houses" provide low income housing with minimal energy consumption.

Morning Real Estate Review

McGraw Hill says construction will be up 2% this year (San Fran News)  The firm says that tepid growth in the economy will lead to small growth in 2012 over last year's construction numbers.

JBG will hold on office tower at Rosslyn's Central Place (Washington Post) As Monday Properties fails to sign a tenant on its new office under construction next door, JBG decides to start the apartment building and hold on office space.


Mendelson promotion a win for NIMBYs (CityPaper)  The new Council's Chair has a history of opposing development during and before his tenure as Councilmember.

The housing recovery, in 2 charts (Washington Post)  There are signs that the housing economy is improving, though modestly, in several national and regional indicators.

Georgetown Park still without new tenants (Washington Post)  Two years after buying the mall, Vornado is still negotiating leases and the future of Georgetown's mall.

Morning Real Estate Review

US cities now outpacing suburbs, new data shows (Slate) For first time in half a century, urban areas are outpacing their suburban neighbors in population and economic growth.

CitiMorgage launches program for soldiers on the move (HousingWire) To help soldiers who are stuck with existing mortgages while they move bases, CitiMortgage has introduced a Citi Military PCS (permanent change of station) transfer assistance program.

30-year fixed-rate mortgage rates unchanged, 15-year fixed-rate falls to new low (The Washington Post) While the 30-year fixed-rate average mortgage rate has continued holding steady, the 15-year fixed-rate average has found itself at a new low.

Cover story: Good manners a must during open house (The Washington Times) Though it may not be on the forefront of every seller’s mind, it’s important to remember to have good manners while selling a house.

Charting the market: Sellers’ prospects improving (The Washington Times) More demand and less supply, as this year is seeing, leads to a seller’s market.

Your Next Place

I'll admit, I'm kind of an "old things" snob - I only wear vintage clothes, won't drink bourbon unless it's at least 12 years old, and don't like any movie made after about 1978.  But one new thing I really love is a new condo, especially when they're like this.  I mean, look at it!  It would be like living inside an iPhone.  What snob could resist that?

This two-level Logan Circle condo in the Metropole features a wide-open floor plan, high ceilings, and totally unique finishes.  The kitchen gets a ton of light from the massive wall of windows; there's also exposed ductwork, for that frisson of rough industrial edges, but also Bosch appliances and custom cabinets for that frisson of, well, living in a million dollar condo.  Both good frissons.

Upstairs are the fine, spacious bedrooms, and there are three, yes three, very fine bathrooms.  As with the rest of the house, the utmost care has been given to every detail - the cabinets, the towel racks, the light fixtures, even the shower curtain rods are cool.  This is a condo that's guaranteed to make all your friends feel inferior and lame when they visit, which in my mind is the real point of home ownership.

And of course, the location.  Everything you could possibly want is within a block; a gym, a salon, restaurants, half a dozen bars, Whole Foods.  The condo comes with a parking space, but only a very bad person would live here and still insist on driving.  (Just kidding, when I visit my parents in Iowa, I drive their car twenty feet down the driveway to get the mail.)

1515 15th Street NW #430
2 Bedrooms, 3.5 Baths
$999,999