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.