Thursday, October 4, 2007

O St Market Update

As many of you have passed by and seen the 1881 Market Building at the corner of O and 7th Streets NW, there may finally be movement for the development of the building. The most impressive news is that the building may soon be housing the cities largest Giant Grocery store anywhere in the city! At the recent ANC2C02 meeting, this past month, Roadside Development presented their latest illustrations for the behemoth $250 Million dollar project.

Roadside Development is known for many of their incredibly popular developments such as the Cityline at Tenley (the Best Buy Building), and Potomac Town Center. This upcoming development should be their most impressive yet. Their proposed plans include the 65,000 sq ft Giant, 600 rental & condominium units and a 180 room hotel. Given that the project is "proposed" they will be applying for a PUD, requesting for the city to allow them for the mixed use development, and I believe they will get it due to the fact that the lot is 4 acres big. Someone please correct this statement if it is wrong but it is to my understanding that if you have a single conjoined lot of 2.5 acres or more, the city will significantly favor the PUD application approval and the likelihood is increased four-fold. In addition there will be several retail locations and a restaurant.

Its a great move for the area, not much has been done here in quite a while but between this development and Broadcast Center One (Shaw, the New Entertainment Hub for DC), the area is sure to change over the next two years. For more info, read my previous blog on the market HERE.

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