High-End Condos for the Luzon Building

Empty nesters looking to downsize but not live in a building above "a bunch of yuppies just out of college" are the target market, Mason said. Units will range from 2,600 square feet to more than 4,000 square feet.

Mason said neighborhood activists were mostly pleased to hear that his building's units, at $1.8 million to $4.5 million, would not cater to George Washington University students. The kitchen interiors, built in Milan, cost more than $100,000 per unit.

Although the idea of a condominium building with fewer, more spacious units is unusual in Washington, Mason's is not the first. Developer James J. Abdo of Abdo Development built the Emerson at 12th and N streets NW in 2001, a 12-unit project that also has direct elevator access to condos.

"For the longest time in the District, a lot of developers were nervous about bringing very large units to market," Abdo said. "Is it riskier? Yeah, it is."

No Rest for Carr

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Oliver T. Carr Jr., 81, isn't interested in reflecting much on the recent $5.6 billion sale of the company he founded, CarrAmerica Realty Corp.

"I don't want to talk about that; I want to talk about this," Carr said as he moved into a pitch for his current venture: renting executive office suites.

Carr said Preferred Offices LLC, will open locations in Bethesda, Alexandria and the District this fall. There are already three in the District, one in Alexandria and one in Tysons Corner.

The veteran developer faces competition from major players such as Regus Group PLC of Britain, which has been in the business for more than two decades and has about 700 centers around the world.

But Carr has broad ambitions. Starting next year, he said, he plans to open a new property every 90 days, expanding to such markets as New York and San Francisco.

Carr started the privately owned Preferred Offices six years ago and opened the first offices in 2003. He is spending about $1 million to open each of the properties in space he leases.

Preferred Offices' temporary tenants include entrepreneurs, nonprofit organizations, lobbyists, and even the Embassy of Palau. Microsoft Corp. rents office space in the Alexandria center.

Most of the space is rented for six to 12 months, but it is also available for $15 to $25 an hour for anyone who needs a temporary office.