Friday, July 6, 2007

New Condo Spotlight: 5220 Wisconsin Ave

Akridge Development was recently approved for a 70-90 unit building in the lot on Wisconsin Ave where the car dealership currently exists. The address is 5220 Wisconsin Ave NW. I spoke with their development representative this past week, DT, who mentioned that they are looking to list the condos in the 900/sq ft range, even higher than PN Hoffman's building, named Chase Point, selling upwards of $800/sq ft. My impression is that this building will be a great success, hopefully more than the Chase Point condos around the corner, then again PN Hoffman doesnt have the best reputation for building a quality product. My feeling of the building's best selling points is the limited space for a non-'bulkified' lot in a somewhat dense commerical area. The lot is quite large, according to the tax record it's an R5B zoned lot at nearly 1/3 of an acre. Thats 15,000 sq ft in leymans terms.

Here is the sites description.

Page 1
Akridge owns the Friendship Motors property (often called the Buick Site)
located at 5220 Wisconsin Avenue NW between Harrison and Jenifer Streets
(less than 300 ft away from the Friendship Heights Metro Station).
Currently the site contains a used car lot, an auto body repair shop and a
flower store. We propose building a 60 to 70 unit condominium building with
ground floor retail space on the site. Along with related upgrades to adjacent
areas on this block described on the reverse side, we believe this project will
substantially enliven this block. See reverse for details.
5220 WISCONSIN AVENUE
Proposed Condominium Project in Friendship Heights
Conceptual rendering of the project.
Friendship Motors and a PEPCO substation to the south.

ADDITIONAL PROJECT DETAILS
There is a PEPCO substation to the south of 5220 Wisconsin
which has bricked-over windows. The building façade and sidewalk
areas are in disrepair. As part of this project,Akridge will
upgrade and repair the façade and replace the sidewalk, thereby
enlivening and reactivating an additional street front section
of Wisconsin Ave.
􀀗 On The PEPCO Substation, Akridge Plans To:
• Install new retail storefront-type windows to be
used for public display of art work, school-related
activities and public service announcements. Use of
these windows would be administered by an appropriate
neighborhood organization.
• Restore the limestone and terra cotta building
façade.
• Replace the existing entry door and clock to give
the appearance of an attractive retail storefront.
Akridge is a Washington DC-based real estate services firm. We have been working in the local market for more than thirty years.
WE WOULD LIKE TO HEAR FROM YOU. If you have ideas, reactions, comments or suggestions including what type of retail uses
you would like to see at this location, please email wisconsin@akridge.com.
YOU MAY ALSO VISIT www.5220wisconsin.com for more info
PROPOSED FACTS AND FIGURES
􀀗 60 – 70 for-sale condominium homes with approximately 13,000 SF of ground floor retail space
􀀗 2 levels of underground parking: at least 1.2 spaces per residential unit and 15 validated retail spaces
􀀗 Half of the building is 5 stories or lower; the other half is 7 stories
􀀗 Parking and loading will occur via the Harrison Street alley, thereby eliminating three existing driveway
entrances which frequently involve hazardous left-hand turns on to and from Wisconsin Ave.
5220 WISCONSIN AVENUE
Aerial image of conceptual model, looking north on Wisconsin Ave.
Wisconsin Ave
.
Harrison St.
􀀗 We will provide streetscape improvements including upgraded sidewalk pavers, trees and planters on approximately 250 ft of
Wisconsin Ave. (includes area in front of substation).
􀀗 Affordable housing units will be included as part of the project (approximately 7%).
􀀗 To minimize traffic impacts and neighborhood parking ‘spillover,’ we will market the retail space to neighborhood-serving businesses
(not “destination retail”), include: 2 parking spaces for car sharing programs (Zipcar and/or Flexcar), 3 visitor spaces for guests of residents,
bicycle storage, a shower and changing room. Also,we will prohibit project residents from obtaining Residential Parking Permits.
􀀗 The building will be LEED Certified (Leadership in Energy and Environmental Design). This includes sustainable or “green” design features
including a roof which stores and filters storm water; a reduction in water and energy use; and the recycling or reuse of at least 50% of all
construction materials waste. These are just three of many such features. No residential building in DC has yet received this distinction.
􀀗 The Sierra Club’s DC Chapter endorsed this project, saying it will set “new standards for green urban development.” In a press release, the
Sierra Club suggested that residents should insist on developments like this one which cut down on pollution and traffic congestion.
􀀗 The Smart Growth Alliance (SGA) has recognized this project as exemplary in achieving smart growth objectives. This distinction commends
projects which help “the Washington region accommodate growth in a manner that achieves economic, environmental, and
quality-of-life objectives.” The SGA represents five organizations including the Urban Land Institute and the Chesapeake Bay Foundation.
􀀗 With community input,Akridge has selected additional community benefits and amenities as part of this project. These include $500,000 for
the Lisner-Louise-Dickson-Hurt Home, $100,000 for Janney Elementary School, $30,000 for IONA Senior Services and $40,000 to fund a
“Friendship Heights Transportation Management Coordinator.” Please click here for more information.
Proposed Building

1 comment:

Anonymous said...

Whatever happened to this project? It's been a while...