Monday, December 12, 2016

Condo Developer Purchases Buzzard Point Sites


A new condominium project may be developed one block north of the new D.C. United stadium. Two sales closed back in early October at the corner of 1st and Q streets in Buzzard Point, which may foretell a redevelopment of these sites into a condominium building. The larger of these sites is 1546 – 1550 1st Street, a commercial building currently occupied by Lucky Kabob and Shulman Liquor. According to DC land sale records, the lot size is 6,138 SF and the sale price is $2.8 million. Just to the north of Lucky Kabob is 1542 1st Street, which was approved by the Zoning Commission earlier this year to be developed into Stadium Lofts (rendered above), an eight-unit rental apartment building by TMASSHLDG LLC. This lot is 3,000 SF and the sale price is $1,830,000. (The High Road Primary & Middle School building next to 1542 1st Street is also for sale, but I have not found a land sale record for that site.) 

The buyer of both of these lots is an affiliate of DBT Development Group, a Capitol Hill-based company that specializes in condominium development. Their most recent project was the Maryland Condominiums near the H Street NE corridor. They recently purchased a site not too far away on L Street SE in Near SE/Capitol Riverfront/Navy Yard and plans to build condominiums there in 2017. 

The 1st and Q streets site would be the second condominium building planned for Buzzard Point. Capital City Real Estate is planning to build Peninsula 88 next to the shuttered Buzzard Point Marina at 1st and V streets and ANC 6D is scheduled to vote on proposed changes to the PUD for this site at this evening's January's monthly meeting.

Stadium Lofts rendering courtesy of TMASSHLDG LLC

1 comment:

Marc said...

Any updates on this? Thanks, WIll!