Wednesday, December 26, 2007

Considering Landbanking? Lot Adjacent to DMPED's RFP for Sale

In case you didnt get that, DC's Office of the Deputy Mayor for Planning and Economic Development issued a solicitation for offers via a Request For Proposal for two sites in Deanwood, NE DC. The subject properties are 4427 Hayes St NE and 4808-4826 Nannie Helen Burroughs Ave NE. (Coincidentally I have a 6000 sq ft lot on the market on the 5000 block of Nannie Helen Burroughs for $190K). The RFP solicits for the redevelopment of the lots for "replacement housing for the residents of the Lincoln Heights and Richardson Dwellings neighborhoods." Lincoln Heights is located between Nannie Helen Burroughs and East Capitol and to the west of Division Ave NE and Richardson Dwellings is located at 260 54th St NE, of which the properties are adjacent to one another.

The RFP intends to create opportunities for local residents, create mixed-income neighborhoods, protect and expand affordable housing, decrease crime, engage residents, leverage public resources, and integrate human capital component.

The Landbanking...

This past week a completely separate lot came on the market for $250,000 on the 4800 block of Nannie Helen Burroughs Ave NE, adjacent to the properties up for the RFP. The lot size is over 10,000 and its zoned R2 but has been permitted for car sales. If anyone is considering investing, this may be the lot for you.

Contact me for more information.

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