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Tuesday, August 03, 2010

Buy Me: Part of Kelsey Gardens/Addison Square Assemblage

It is old news that the developers behind the redevelopment of Kelsey Gardens are looking either to sell their prime property in Shaw or to find for an equity partner for their planned Addison Square project. But it is new news is that one component of the Addison Square assemblage is for sale.

Thanks to tipster Paul for point me to this this listing for the property at the corner of Eight and P Streets, Northwest – directly across from the imminently breaking ground CityMarket at O development.  The land is currently occupied by a parking lot, and was slated to contain townhome-styled condominiums in the Addison Square project.  The asking price is $1.2 million dollars, and the description provides:
Land Area: 4,275 SF
Current Use: Parking Lot
Permitted Uses: residential and/or office uses depending on market conditions
Highlights: Located 3 blocks north of the Convention Center. At the intersection of P Street and 8th Street. Metro access located approx. 2 blocks North (Shaw-Howard U)
Architectural drawings prepared by Lessard Group
Parking Available at Kelsey Gardens
It will be interesting to follow the disposition of this property.  I bet we'll see it redeveloped soon given that it's being broken off from the larger Seventh Street Kelsey Gardens site.

1 comment:

IMGoph said...

i think this could be a good thing, overall. even if the lot was going to be developed "separately" from the rest of the kelsey gardens property, i would bet you'd be able to tell in some way that the two were connected.

i'm not a fan of "superblock" building, and clearly those approving such things aren't really either, hence the design boards requesting that new buildings facades be constructed to appear to be made up of multiple small buildings.

development generally doesn't happen one small buildling at a time—economies of scale don't permit that to happen anymore—but it's nice to see a little of that happening in shaw (like mandalay).