Robert H. Smith School of Business
The Motley Fool

Market Foolery Featured Podcasts

  • MarketFoolery: 09.18.2014
    As Alibaba gears up for the biggest IPO in history, Motley Fool Funds analyst Tim Hanson shares why he has no interest in the stock.  Plus we analyze the business of the NFL, one company’s disappearing CEO, and things to do when you’re visiting Washington, DC.  
  • MarketFoolery: 09.17.2014
    Morgan Housel analyzes the best way to think about trends, what Scotland’s independence means for investors and what to do in DC.
  • MarketFoolery: 09.16.2014
    On today’s show the guys try to figure out what the future may hold for sears, what Microsoft plans to do with Minecraft, and which fall beer is the best.
Capital Business
Posted at 12:21 PM ET, 01/10/2012

FUR Nightclub sold to developer Skanska

The development arm of construction giant Skanska has purchased two of the last available development sites in the Neighborhood North of
Armin Van Buuren performs at FUR Nightclub, which was sold to Skanska. (Courtesy of Glow Washington D.C.)
Massachusetts Avenue (NoMa), including FUR Nightclub.

Skanska is planning a 300-plus apartment building to replace FUR and the parking lot next to it, as well as two office buildings to replace parking lots down the block.

Skanska first bought property along M Street NE between North Capitol and First streets early in 2011, when it acquired two sites that are currently parking lots. A previous owner marketed the development plans as Capitol Plaza II and III, but Skanska renamed the projects 44 and 88 M Street. The two office buildings Skanska plans could also be connected to attract one large user, said Robert Ward, executive vice president of Skanska USA Commercial Development Inc.

With the FUR Nightclub and the parking lot next door, Skanska is considering building its first Washington apartment building. Ward said it would be between 300 and 340 units and would likely be called 22 M Street. “That First and M intersection has become pretty active and nice,” he said. “I feel like that’s almost become sort of the main and main of NoMa.”

One other thing: Why are all the buildings named after addresses with repetitive numbers? Ward said it made the properties easy to locate and remember.

“There’s so many buildings that have constitution or capital, all those types of names in this city, that sometimes you get confused,” he said.

Follow Jonathan O’Connell on Twitter: @oconnellpostbiz

By  |  12:21 PM ET, 01/10/2012

 
Read what others are saying
     

    © 2011 The Washington Post Company