The Washington Metropolitan Area Transit Authority wants to sell or lease 17,000 square feet and air rights on the southwest corner of 14th and I streets NW. That's the site of the east entrance of the McPherson Square Metro station due to open in July, a site that was purchased for $1.6 million five years ago. A large building with a mix of retail and office space is envisioned by WMATA, which has issued a 24-page prospectus loaded with details. Proposals are due July 1. Developer Gerald Miller and associates are constructing a 12-story building over a subway station at Connecticut Avenue and L Street NW - the first downtown building to be built in recent years without underground parking. But then, it's as close to a Metro stop as possible. In Rosslyn, WMATA has contracted to sell air rights and "density credits" at the station entrance to Stanley Zupnik and Associates, who plan a 350,000 square foot building over and near the entrance. A June groundbreaking is planned.
John Sower, the young director of the non-profit, New York-based National Development Council, grabbed the attention of a crowd of D.C. building industry folks on a recent evening when he talked about commercial revitalization in some areas of downtown Baltimore and other cities. Using slides, lots of specific information and a glib delivery, Sower really got through to a mixed audience that included D.C. Council member Nadine Winter, builder Joseph Geeraert, developer Theodore Hagans and realtor Dorothy K. Winston. Now the word is that Sower's organization may come into our downtown to do a similar catalytic job on the H Street corridor in NE.
Have you noticed that something's happening on an undeveloped corner of MacArthur Boulevard and Arizona Avenue NW? The man making it happen is Larry Stander, head of Stander Associates, Inc., and formerly president of the Suburban Maryland Home Builders Association. Stander's group bought three small lots totalling 20,000 square feet from John Fagan of the Housing Guidance Council, who bought the rambling log house (where he lives) and ground a few years ago. Stander paid $80,000 for the land and plans to build three brick houses with about 3,300 square feet of living space and offer them this fall for $160,000 to $180,000. Each will have two fireplaces and a big kitchen. Stander also plans to build a house on a lot acquired on Alton Place NW.
"What You Always Wanted to Know About Buying and Selling Your House - But Were Afraid to Ask" is the subject of a seminar to be conducted at 8 p.m. Thursday by realtor Lee Frew Platt at the Newmark Commons Clubhouse on Maryland Avenue in Rockville. Mrs. Platt has been helping people in the Washington area buy and sell houses for more than 25 years and she teaches real estate at the University of Maryland. She recently reactivated her owns firm and plans a series of free seminars to help potential buyers and sellers.
American Federal Savings and Loan Association has issued a loan commitment for $13 million for a new air rights building that developer John E. (Chip) Akridge III and a limited partnership plan to build - subject to zoning approval - on the northeast corner of 15th and K streets NW, site of the H.L. Rust building. The financing was made by a consortium of local financial institutions, said William F. Sinclair, executive vice president of American Federal. He said that the 12-story building will have 84 feet of frontage on K and and 216 feet on 15th, where an exception for an air rights construction over an existing alley is being sought. The architect is Weihe, Black, Jeffries and Strassman.
To show off the nearly completed Worland Town duplex apartments - built around a courtyard - on Wisconsin Avenue NW, developer Jon Gerstenfeld and wife hosted a black-tie event last Saturday night for 14 buyers as well as friends, associates, prospective buyers et al. Anthony Izzo was there to admire his brickwork and architects Wil Worland and Mike Patterson brought their wives to see the fruition of the firm's work.
Rita Fair, who served as executive assistant to P.N. Browmstein, when he was FHA commissioner during the Kennedy and Johnson years, has returned to the Department of Housing and Urban Development as special assistant to Undersecretary Jay Janis. Mrs. Fair was working for the downtown law firm headed by Brownstein.
At a recent seminar on rehabilitation of apartment buildings, property manager Loren Simkowitz set the tone for fellow members of the Institute of Real Estate Management. There are three reasons to redo apartments, he said: social responsibility, satisfaction and financial reward. He maintained that the real estate bromide about the three most important factors being "location, location and location" is being replaced by a trilogy of "imagination, imagination, imagination" for apartment ownership and rehabilitation.