Tuesday, August 2, 2011

JBG Buys More Land in the U Street Area

The development company, JBG is everywhere in the U Street area.  From 14th and S with it's new condo project, to Atlantic Plumbing on 8th and V, to the new hotel site at 13th and U, to the new project at 14th and U, JBG is adding nearly 800 residential units and almost 80,000 square feet of retail.

Now the developer giant has recently purchased the three parcels of land along Florida, between 7th and 9th Streets, NW.  The highest bidder of the WMATA land at $10.2M, JBG is looking to add 250 residential units and up to 25,000 square feet of retail space to this area.

With all of these projects happening in the U Street/Shaw area, population growth will expand at an alarming rate over the next 5 years.  The increase in retail and convenience will most likely cause property values to sky rocket. 

Let's hope most of the people moving to the area don't have cars.  For more information on the Florida Avenue parcels, click here.

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