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Monday, April 27, 2009

Buy Me: Flats at Blagden Alley Development Project

I recently noticed for sale signs at the empty lots located at 917 M Street, NW and 1212 9th Street, NW. These lots were slated to be developed into the Flats at Blagden Alley, a mixed use project including ground floor retail on 9th Street and residences. As previously reported, Walnut Street Development originally planned the project, which was subsequently purchased by Self Help, Inc.

I found this listing and this listing and about the current sale. The lots' collective asking price as $10,925,550 and are marketed by Grubb & Ellis Company. In relevant part, the listings state that:
Flats at Blagden Alley: Proposed Multi-Family Condominium Building. 15,976 SF Available For Sale. Project Plans: 63 units, 33 Covered Parking Spaces, & 2,400 SF of Retail Space in 2 Residential Buildings. No co-broker fee is being offered.
I've always loved the renderings for the Flats at Blagden Alley -- it seems like a fantastic plan for the properties. I've got my fingers crossed that someone will purchase this project and move forward with it.


fourthandeye said...

I know the economy is not great but Walnut Street proved to be a dud of a developer. They bailed on a project called Eye Street Lofts in the Triangle as well...

JatAre said...

Yeah, money is tight. But those with financing are going forward with development projects. The building project @ 5th & R.I. going along, it seems smoothly. But who knows ? A couple of projects in the 1600 block of 5th have stalled for some time. One can only imagine it is because of lack of capital.