Potential for New DC Condominiums in the 14th Street Corridor
New DC condominiums could be headed to the 14th Street Corridor.
According to Sarah Krouse of the Washington Business Journal, JBG Cos. “closed on its purchase of Swann Drycleaners, the last parcel needed for its condominium project on the site of the historic Whitman-Walker Clinic”.
(Photo from Washington Business Journal)
The 14th Street Corridor has been one of the hottest neighborhoods in DC during the recent condo craze. Because of its location in the heart of Downtown DC, but also its small-town, community feel, the 14th Street neighborhood has become one of the most popular areas for DC Condo buyers.
“The 14th Street corridor, considered part of the Shaw/Columbia Heights submarket, saw 151 sales in 2009,” Krouse wrote. ”Second only to the Capitol Hill Waterfront, which had 185 sales, according to William Rich, the director of Delta’s condominium practice.”
The development of the 14th street neighborhood has picked up tremendous speed, and really has everything a DC Condominium resident could need.
One of its most populated commercial blocks, set at the corner of 14th and P Streets in between Logan Circle, Dupont Circle, and U Street, has a huge Whole Foods Market(in my opinion the best grocery store in the city-but also one of the more expensive), as well as numerous restaurants and bars. Recently a Sweet Green salad shop moved in next to Pitango Gelato, Lululemon Athletica, and Metropole, a state-of-the-art new DC Condo(pictured below). It has a true small-town feel to it, but is right in downtown with walking access to virtually anywhere in NW. Check out our community video of the area here.
The need for more residential spaces in the neighborhood is evident, as Krouse explained that almost all of the condominiums in the area have already been snatched up.
“Most new projects have sold out: Bogdan Builders Inc.’s 28-unit CityScape on Belmont unloaded its last unit in February,” Krouse wrote. ”PN Hoffman Inc.’s 59-unit The Warehouses at Union Row and the 208-unit Flats at Union Row are close to selling out. And the 90-unit Metropole, one of the last new projects to hit the market, has 20 units remaining.”
(Flats at Union Row)
It will be exciting to see how the new condo project develops in the near future, and we at DC CondoLoft will be sure to keep you updated.
This is good to hear. I really hope that Columbia Heights uses the money for good.