Archive for August, 2010

24
Aug
10

RIA a “Hot Spot”?

Northeast corridor as a new hot spot for developers and residents.

This quote is from the Washington Business Journal (as is the picture below) in regards to the redevelopment prospects for Rhode Island Avenue NE!

What is the latest? 329 RIA is getting a face-lift.

Address not ringing a bell? Well, it is the dilapidated building that sits at the corner of RIA and 4th Street NE, across the intersection from the Sun Trust Bank near the Rhode Island Ave Metro station. You have probably driven by it a million times but it isn’t something that would catch your eye as a place you would expect a top notch condo developer to redevelop.

PERS Development spent nearly a couple million dollars to purchase it and have plans to redevelop the building into 32-unit condos. They are describing the condos as “boutique”. This is a welcome change for this building and for the surrounding area. Along with the Rhode Island Ave Metro redevelopment and the coming Costco and Target project on the other end of RIA, we have good things to look forward to.

Here is a link to the WBJ article.

10
Aug
10

The “Other” Development

It seems with all of the attention on the Rhode Island Metro redevelopment, the redevelopment project near Ft. Lincoln off of South Dakota and New York Avenue has been pushed out of most peoples’ attention. Not on this blog, though.

It seems that there is movement on this project. According to a Washington Biz Journal article from August 9th,

The Shops at Dakota Crossing, the as-yet unbuilt 42-acre shopping center in Northeast D.C.’s Fort Lincoln neighborhood, is one of the few D.C. parcels that can fit larger retailers. The development — which is bounded by New York Avenue, South Dakota Avenue and 33rd Place — has been searching for major retailers like Kohl’s for more than a decade.

Costco, Target and Shoppers Food Warehouse are expected to anchor the project, according to developer Fort Lincoln Newtown Corp. And Kohl’s and Ross were among a plethora of other retailers that have expressed interest in the site since the International Council of Shopping Centers conference took place in May.

It seems that Target is still on-board for the site. According to the WBJ, “Fort Lincoln is currently waiting for wetlands approval from the Army Corps of Engineers and is nailing down construction financing details to move the project forward.”

According to a recent article from the WBJ, Shoppers Food Warehouse has recently signed a Letter of Intent to go into the Dakota Crossings development.

With redevelopment projects on both ends of the Rhode Island Avenue NE area, it seems things are happening.




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