tag:blogger.com,1999:blog-77384647811857110182024-03-13T17:05:42.564-04:00DC Real InsightDC Real Insight is a blog that comments on real estate, development, and community activities in the DC, Northern Virginia, and Maryland areas to help keep you up to date.David Corsonhttp://www.blogger.com/profile/05431314482910006002noreply@blogger.comBlogger26125tag:blogger.com,1999:blog-7738464781185711018.post-67596429930924687902012-03-08T09:05:00.000-05:002012-03-08T09:05:09.250-05:00Spring Home Buying Part 1Spring is a great time to purchase a new home in the DC area. Over the next few weeks, I will be sending you different articles that will help you with your spring home search.<br />
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A recent article in The Atlantic walks you through some of the main considerations in buying a home, and take a realistic approach to home buying. Everything from deposits, to whether you should consider a fixer upper or new construction, and much more!<br />
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For example, it states many people believe you only need a 3.5% deposit - do you know how much you need? Read the article and you may be surprised (link below). This article is a must read for anyone considering purchasing a home.<br />
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I have a great team in place to help you with your home buying needs, including excellent mortgage consultants, home inspectors, contractors, and me - your neighbor and sales agent.<br />
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Call or email me today to begin your new home search.<br />
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<a href="http://m.theatlantic.com/business/archive/2012/03/getting-ready-to-buy-a-house/253927/" target="_blank">http://m.theatlantic.com/business/archive/2012/03/getting-ready-to-buy-a-house/253927/</a><br />
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David Corson<br />
Coldwell Banker Residential Brokerage<br />
1606 17th Street, NW<br />
Washington, DC 20009<br />
(202) 674-1671 Cell<br />
(202) 387-6180 Office<br />
<a href="mailto:David.Corson@cbmove.com">David.Corson@cbmove.com</a>David Corsonhttp://www.blogger.com/profile/05431314482910006002noreply@blogger.com2tag:blogger.com,1999:blog-7738464781185711018.post-36089281044876032402011-12-13T13:53:00.000-05:002011-12-13T13:53:24.488-05:00Lower Limits for Veterans Affairs (VA) go into effect December 31st<div style="font-family: Arial,Helvetica,sans-serif;">Friday VA released a change that is effective December 31. The maximum VA loan is decreasing from the current maximum of a little over $818k to a new maximum of $625,500 with 0 down. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">VA loans above $625,500 will still be available but they will require a 25% down payment for anything over the amount of $625,500. As an example if the sales price is $725,500, the down payment would be $25,000. This is the same as what has been done for loans above $818k.</div>David Corsonhttp://www.blogger.com/profile/05431314482910006002noreply@blogger.com0tag:blogger.com,1999:blog-7738464781185711018.post-13664048371633403732011-11-09T16:04:00.000-05:002011-11-09T16:04:51.675-05:00Washington home prices up 5.7% since August<div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg7n5Hj6UtKEH2N8_h-vkGTl-E-kxSqvoRQ_TOtgJ4jZde2ctG99u5M0pIES5iJD7vUXmAYiVer6eKUlRHnvjiDNZYjSmIFYWzijMY22g9Tor8qZIiZqwb63OcXEez6ot_vJOm6WQ4Ib3Y/s1600/dc+row+houses.jpg" imageanchor="1" style="clear: right; cssfloat: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="134px" ida="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg7n5Hj6UtKEH2N8_h-vkGTl-E-kxSqvoRQ_TOtgJ4jZde2ctG99u5M0pIES5iJD7vUXmAYiVer6eKUlRHnvjiDNZYjSmIFYWzijMY22g9Tor8qZIiZqwb63OcXEez6ot_vJOm6WQ4Ib3Y/s200/dc+row+houses.jpg" width="200px" /></a>As reported in the Washington Business Journal, the average home price in the DC area is up 5.7% since August, compared to the national average of .06%. Compared to last year, DC was only up 2.3%, so this is good news for people selling their homes. </div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><br />
</div>For those who wish to purchase a home, there are still some great deals out there, especially in Petworth, Ledroit Park, etc. If you would like to know more about these areas, email me at <a href="mailto:david.corson@cbmove.com">david.corson@cbmove.com</a>.<br />
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For more on this article, visit the <a href="http://www.bizjournals.com/washington/news/2011/11/03/washington-home-prices-up-57-since.html">Washington Business Journal.</a>David Corsonhttp://www.blogger.com/profile/05431314482910006002noreply@blogger.com0tag:blogger.com,1999:blog-7738464781185711018.post-37823223846438231442011-11-07T13:03:00.000-05:002011-11-07T13:03:10.765-05:00New French Restaurant from Philly coming to the Old Shirt Laundry at 14th and QWhat was once the Old Shirt Laundry will now become a new french restaurant at 14th and Q Streets, NW. This rapidly developing area is growing faster than any other area in the city, with some saying it will become the next Georgetown (more like restaurant/condo row).<br />
<div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><a href="http://www.princeofpetworth.com/wp-content/uploads/2011/11/shirt_laundry_logan_circle.jpg" imageanchor="1" style="clear: right; cssfloat: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img alt="" border="0" class="alignnone size-full wp-image-48728" height="150px" src="http://www.princeofpetworth.com/wp-content/uploads/2011/11/shirt_laundry_logan_circle.jpg" title="shirt_laundry_logan_circle" width="200px" /></a></div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;">Parc Deux Restaurant Partners LLC has filed for a liquor license application, shedding some new light on this former laundry building. The company is from Philadelphia, and has as one of its restaurants the famous Parc Restaurant. </div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><br />
</div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;">The property is to be open for breakfast, lunch, and dinner and will have a total occupancy of 275. This french style bistro will be a large restaurant, one of many opening on 14th Street.</div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><br />
</div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;">Do you think this will be a good addition?</div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><br />
</div>To read more from the Prince of Petworth, <a href="http://www.princeofpetworth.com/2011/11/new-french-restaurantbistro-coming-to-logan-circle/">click here.</a>David Corsonhttp://www.blogger.com/profile/05431314482910006002noreply@blogger.com0tag:blogger.com,1999:blog-7738464781185711018.post-61499925441331394742011-08-02T09:31:00.000-04:002011-08-02T09:31:29.767-04:00JBG Buys More Land in the U Street AreaThe 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.<br />
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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 $10.2M, JBG is looking to add 250 residential units and up to 25,000 square feet of retail space to this area.<br />
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With all of these projects happening in the U Street/Shaw area, population growth will expand at an alarming rate over the next 5 years. The increase in retail and convenience will most likely cause property values to sky rocket. <br />
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Let's hope most of the people moving to the area don't have cars. For more information on the Florida Avenue parcels, <a href="http://www.bizjournals.com/washington/news/2011/07/26/jbg-buys-metros-florida-ave-sites.html">click here.</a>David Corsonhttp://www.blogger.com/profile/05431314482910006002noreply@blogger.com0tag:blogger.com,1999:blog-7738464781185711018.post-45140876542520966592011-08-01T09:28:00.000-04:002011-08-01T09:28:41.993-04:00Utopia Project at 14th and ULooks like we are more apartments and retail space coming to the corner of 14th and U Streets, NW. The 9 stories high building will have about 220 apartments and 30,000 square feet of retail space. <br />
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<div class="separator" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjVshRjM7oC9hT6pCsbQW1Vs7j4h06LwNIa0SuK1zP0D2bZpQ4OHN2hW_bEqo1hJAvERExH95m3F0A3eO9R_gv_GsHdO085wG6gm65tfUqU0DgFLijw3O8zTbXNkSYd7NZV0hrL73GlUSQ/s1600/14%2526U_280.jpg" imageanchor="1" style="clear: left; cssfloat: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjVshRjM7oC9hT6pCsbQW1Vs7j4h06LwNIa0SuK1zP0D2bZpQ4OHN2hW_bEqo1hJAvERExH95m3F0A3eO9R_gv_GsHdO085wG6gm65tfUqU0DgFLijw3O8zTbXNkSYd7NZV0hrL73GlUSQ/s1600/14%2526U_280.jpg" t$="true" /></a></div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;">Many of the retail tenants along U Street (Coppi's, Utopia Bar, DC Noodles, etc.) and 14th Street (Chicago Dogs, Footlocker, Taco Bell, etc) will be closed but are slated to return once the project has been completed. McDonald's will remain open since they have a long term lease.</div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><br />
</div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;">Beginning in 2008, the project has floundered due to lack of financing but now they have that settled, the project is under way again. JBG is the developer, the same company who now owns Atlantic Plumbing, the parcels at 8th and Florida, and the new condo project at 14th and S.</div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><br />
</div>Of concern is the design of this large building and how it will blend in with the surrounding neighborhood. Let's hope this project adds to the diversity of the neighborhood and doesn't take it away in the end.<br />
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Visit <a href="http://www.bizjournals.com/washington/blog/2011/07/jbg-plans-fourth-quarter-start-at-14th.html?page=2">The Washington Business Journal</a> for more information.David Corsonhttp://www.blogger.com/profile/05431314482910006002noreply@blogger.com0tag:blogger.com,1999:blog-7738464781185711018.post-40022898005359384492011-07-27T09:52:00.000-04:002011-07-27T09:52:54.861-04:00H Street NE, new Giant and StreetcarsThe ever developing H Street corridor in NE continues to expand. A new development just broke ground last week on the 300 block of H Street, NE, which will be home to a new Giant (a 42,000 square foot store), 215 housing units, and all of this will be completed by 2013. <br />
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjaePbAlgoBymSjvHWiPyyUYvbKfvkGFnv60A6zRzmeDgyAGjvPqs4i0cBjMgxiMYAjws2om0gEgjv4-h34SEujVX6vOG-wic6eaWVKkW3mr_1NvX917VLK7dtwsXbRu-eipejD5RVsAUI/s1600/giant+NE.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="143px" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjaePbAlgoBymSjvHWiPyyUYvbKfvkGFnv60A6zRzmeDgyAGjvPqs4i0cBjMgxiMYAjws2om0gEgjv4-h34SEujVX6vOG-wic6eaWVKkW3mr_1NvX917VLK7dtwsXbRu-eipejD5RVsAUI/s320/giant+NE.jpg" t$="true" width="320px" /></a></div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><br />
</div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;">The streetcar project is well under way, but won't be ready until 2013. While the tracks have been laid and the streetscape project is just about complete, DC announced it won't be ready to run the program until 2013. DC is now in negotiations with Amtrak to use the area under the "Hop-Scotch Bridge" as storage for the streetcars, followed by construction of the storage facility.</div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><br />
</div>Looks like 2013 is going to be a big year for the H Street Corridor!David Corsonhttp://www.blogger.com/profile/05431314482910006002noreply@blogger.com0tag:blogger.com,1999:blog-7738464781185711018.post-26977506679735558902011-07-11T09:44:00.000-04:002011-07-11T09:44:51.574-04:00DC Metro Area Considered Hottest Housing Market in the NationIt is well known the DC metro housing market sustained the recession better than most markets, especially Las Vegas and Florida. This is largely thanks to the federal government being the number one employer in the area. With fewer lost jobs than other areas in the country, buyers' confidence continued to hold steady thus allowing housing prices to remain relatively stable.<br />
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Now a report is stating the DC metro area housing market is to expected to end the year as one of the strongest in the country. Even though the market suffered since the peak in 2006 (losing about 42% of its value), our market is expected to regain one third of that by the end of the year.<br />
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We all know that depending on the area, prices have gone up or down, but overall, the market is showing signs of improvement. Now if you are looking to sell your home, this may be the time to consider. People selling their homes are starting to see multiple offers and some are actually receiving the asking price for their homes.<br />
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As a buyer, the news isn't as positive since prices are beginning to go up. Should you wait and see, I don't think that is necessarily a good idea since there are two factors at play here. The first being interest rates have begun to increase again, so you have to be careful of being priced out different areas. The second reason is the average sales price has increased since this past spring even though inventory is still not up to where it use to be in 2006. <br />
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The good news for buyers is it's not to late to get into some great investment areas (up and coming with development such as Shaw, 7th and O Streets NW, H Street NE, Petworth) since housing values are increasing again.<br />
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For more information on the report, please visit <a href="http://dcist.com/2011/07/new_report_finds_dc_housing_market.php">dcist.com</a>.David Corsonhttp://www.blogger.com/profile/05431314482910006002noreply@blogger.com1tag:blogger.com,1999:blog-7738464781185711018.post-82641183418635295932011-07-06T13:14:00.000-04:002011-07-06T13:14:09.869-04:00New condo building proposed for the corner of 15th and V Street, NW<div class="separator" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh6GsK11w4CfKraCteIsOOYKaNdYBgntK2T-sMGGD5iSW_POyu9-U_c60A5WHVF3oIo_kUwaB41clcJ8yoJAavDMXICM-vrOPd-5V_15QpeZNdzDQoYgMEgd8C9qT1_ax1K3YpTFBvFUWE/s1600/v+street+condos.jpg" imageanchor="1" style="clear: left; cssfloat: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="258px" m$="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh6GsK11w4CfKraCteIsOOYKaNdYBgntK2T-sMGGD5iSW_POyu9-U_c60A5WHVF3oIo_kUwaB41clcJ8yoJAavDMXICM-vrOPd-5V_15QpeZNdzDQoYgMEgd8C9qT1_ax1K3YpTFBvFUWE/s400/v+street+condos.jpg" width="400px" /></a></div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><br />
</div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;">Jair Lynch Development Partners, developer of Solea Condominium just a few blocks away, is proposing a 95-unit, 9-story residential building at the corner of 15th and V Street NW. The building, designed by WDG Architecture PLLC, is proposed on a portion of the existing parking lot for the Paul Lawrence Dunbar Apartment Complex which is home to affordable housing for senior citizens. </div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><br />
</div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEilEsRkimImTgWKyfBitNfYxPsLvAflELPcq764tPbnCNu9Mq7HLlDzW8OAUhNazaLOEBLWwWiNrSMhIwAfM4xi4K2ZDE1AiOs-ndKUmcgCKcfFVHXzr6kFg9JjMEGhQN7otnAUqev-bXY/s1600/Campbell-Heights.jpg" imageanchor="1" style="clear: right; cssfloat: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="121px" m$="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEilEsRkimImTgWKyfBitNfYxPsLvAflELPcq764tPbnCNu9Mq7HLlDzW8OAUhNazaLOEBLWwWiNrSMhIwAfM4xi4K2ZDE1AiOs-ndKUmcgCKcfFVHXzr6kFg9JjMEGhQN7otnAUqev-bXY/s200/Campbell-Heights.jpg" width="200px" /></a>As part of the project, the developer will also be upgrading the exisiting Paul Lawrence Dunbar Apartment Complex with new kitchens, elevators, etc. Also, a new common area park will be created between the two buildings.</div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><br />
</div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;">Some other quick facts at a glance:</div><ul><li style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;">Units 95 condos</li>
<li style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;">Affordable housing 9 in new building (normally 8%)</li>
<li style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;">90 feet high</li>
<li style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;">Parking will be incorporated underground for 48 spaces and an expanded parking lot for the apartments which are currently 21 will be increased to 30</li>
<li style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;">Groundbreaking next summer</li>
<li><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;">Project will be at least lead silver</div></li>
</ul><a href="http://www.meridianhilldc.org/home/2011/7/2/new-residential-building-proposed-for-15th-and-v-street-nw.html">For more information on this project, please click here.</a>David Corsonhttp://www.blogger.com/profile/05431314482910006002noreply@blogger.com4tag:blogger.com,1999:blog-7738464781185711018.post-59804725351941116132011-04-20T09:22:00.001-04:002011-04-20T09:23:38.441-04:00Brookland Development Looks in Doubt<div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><div class="separator" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjp0Hlg7KClpMVI6d7k7-rxON15es3zcCQkHOkwRqJtIucy8KpHCMkKJY_sJZta9I0TBs6JvXhd3l6U9HUYVpML_tvfpIBdkMZA_vzW09pT_-n2uPZ8vctkZ515XqmPgypujCqQQKjJNLE/s1600/colonel+brooks.bmp" imageanchor="1" style="clear: left; cssfloat: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="147px" i8="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjp0Hlg7KClpMVI6d7k7-rxON15es3zcCQkHOkwRqJtIucy8KpHCMkKJY_sJZta9I0TBs6JvXhd3l6U9HUYVpML_tvfpIBdkMZA_vzW09pT_-n2uPZ8vctkZ515XqmPgypujCqQQKjJNLE/s320/colonel+brooks.bmp" width="320px" /></a></div>A developer planned on a <a href="http://901monroe.com/index.htm">61' high mixed use development (901 Monroe Street)</a> opposite of the Brookland Metro stop. The proposed site is now occupied by houses and a tavern, which the neighborhood does not want to loose. </div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><br />
</div><div class="separator" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWi7MGfCeGZGaVLZETvlJAnRwOzBpddrTF4OV0V2omBcofQGeSDj7Kj7mW6O8frqaJV8SbD15QBFkr4kHoAPkfQLy65W8moPzwsr4IDusPpYpcj5eLs5zcbzEjmSZnw3U4vsi6N5-BaTQ/s1600/exdc5-5ytztpyes5w66x9tg03_layout.jpg" imageanchor="1" style="clear: right; cssfloat: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="133px" i8="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWi7MGfCeGZGaVLZETvlJAnRwOzBpddrTF4OV0V2omBcofQGeSDj7Kj7mW6O8frqaJV8SbD15QBFkr4kHoAPkfQLy65W8moPzwsr4IDusPpYpcj5eLs5zcbzEjmSZnw3U4vsi6N5-BaTQ/s200/exdc5-5ytztpyes5w66x9tg03_layout.jpg" width="200px" /></a></div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;">Many say if the proposed development is built, the neighborhood would loose its character. The local ANC voted to designate the houses and tavern historical. If this goes through, then the development will not be possible at all.</div><br />
This may be an emerging trend as neighborhoods try to push back development in order to presere their local character. So far, this is the only case, but we shall see as the economy improves.<br />
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<a href="http://washingtonexaminer.com/local/dc/2011/03/brookland-development-hits-snares">Source: Washington Examiner</a>David Corsonhttp://www.blogger.com/profile/05431314482910006002noreply@blogger.com0tag:blogger.com,1999:blog-7738464781185711018.post-26294797657305215462011-04-12T21:11:00.002-04:002011-04-13T10:21:06.967-04:00Another Round of Bids for the Florida Avenue ParcelsThe Washington Business Journal reports that for a fourth time, Metro is once again looking for new bids to purchase the two parcels at 8th and Florida Avenue, NW, and one parcel at 9th and Florida Avenue, NW.<br />
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<ul><li>2002: Metro reaches a deal with Howard University to develop the property. The deal fell through in 2003 due to litigation with another bidder.</li>
<li>2007: Metro leases the land to Banneker Venture Group, LLC, but withdrew the deal in 2010 after Banneker filed two extensions. </li>
<li>2010: Late in the year, Metro accepts three proposals after two extensions for the parcels. JBG is published as the highest bidder by $6M higher than the other two bids, one being Howard. However, the board voted to resubmit the bid since they site that none of the RFPs meet technical needs nor the assessed value of the parcels.</li>
<li>2011: Metro resubmits RFP in April</li>
</ul><br />
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I spoke to Bob Burns back in January who was the contact for the RFP, he said there were three bids that were mixed use development. Later, it was published that JBG offered $11M ($6M more than the other two bids) to purchase the land. Looking at the tax assessment records, the lots are assessed at roughly $3.5M. <br />
<br />
So why did WMATA reject the JBG bid if:<br />
It was higher than the other two (by $6M)<br />
Higher than the assessed land value of $3.5M<br />
What are the technical aspects that caused all the bids to be rejected? Wouldn't these have been automatically removed before reaching the board for a vote?<br />
<br />
Metro is bleeding money and this would have helped tremendously with its finances and helped the community by providing jobs and mixed use development. Why has there been no community meetings about this, and worse yet, Metro doesn't even work with the community nor its elected officials to keep everyone up to date.<br />
<br />
Source: <a href="http://www.bizjournals.com/washington/news/2011/04/11/metro-tries-to-sell-florida-avenue.html">Washington Business Journal</a>David Corsonhttp://www.blogger.com/profile/05431314482910006002noreply@blogger.com0tag:blogger.com,1999:blog-7738464781185711018.post-18345054303938365292011-04-08T15:55:00.001-04:002011-04-08T16:03:11.274-04:00City Center DC Breaks Ground After 8 Years of Delays<div class="MsoNormal" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0in 0in 0pt;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhDRxGWdGnBt0cGyDGjl4kzQ3Wb0XZX50TVFAHo9Z5XjPbd6wiHW55OsImuOsRfgJC1mcBL3J0CL5i04L_vhikhkQ5DgKa6lh3C3mrZyzqVTCTqsm6-5b1Z2YBlgMD2MM6ohJQsljYeWuU/s1600/CityCenter_Aerial.jpg" imageanchor="1" style="clear: left; cssfloat: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="160" r6="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhDRxGWdGnBt0cGyDGjl4kzQ3Wb0XZX50TVFAHo9Z5XjPbd6wiHW55OsImuOsRfgJC1mcBL3J0CL5i04L_vhikhkQ5DgKa6lh3C3mrZyzqVTCTqsm6-5b1Z2YBlgMD2MM6ohJQsljYeWuU/s200/CityCenter_Aerial.jpg" width="200" /></a><span style="font-family: Calibri;">The new CityCenterDC development finally broke ground after nearly eight years of the city deciding what should go there.</span></div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><span style="font-family: Calibri;">Originally under Mayor Williams, a new library was to be built on the former convention center site to replace the Martin Luther King Library on 9<sup>th</sup> Street.<span style="mso-spacerun: yes;"> </span></span></div><div class="MsoNormal" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0in 0in 0pt;"><span style="font-family: Calibri;">The new project is one of the largest to date for DC, which includes 325,000 square feet of retail to be built during the first phase.<span style="mso-spacerun: yes;"> </span>It looks like DC will finally get a decent shopping area which it once had before the riots of 1968.<span style="mso-spacerun: yes;"> </span></span></div><div class="MsoNormal" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0in 0in 0pt;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh-DZ00ZPTKlB634YLq602fr5yq6d5H5nrC5eMUq1GayFi7hBvW_3VG8dTMWKFPa5d1Z-wNtiOkY0WoteB9yrtgHx30RBkZ9X9TTLG4Ak-yE7tmxXcp7frDm6GG-3Z_H42BhFY0yiX2TPE/s1600/CityCenter_CentralDusk.jpg" imageanchor="1" style="clear: right; cssfloat: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="200" r6="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh-DZ00ZPTKlB634YLq602fr5yq6d5H5nrC5eMUq1GayFi7hBvW_3VG8dTMWKFPa5d1Z-wNtiOkY0WoteB9yrtgHx30RBkZ9X9TTLG4Ak-yE7tmxXcp7frDm6GG-3Z_H42BhFY0yiX2TPE/s200/CityCenter_CentralDusk.jpg" width="170" /></a></div><div class="MsoNormal" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0in 0in 0pt;"><span style="font-family: Calibri;">In addition to that, there will be a 350 room hotel, 443 apartments, as well as office space, all on a 10 acre parcel.<span style="mso-spacerun: yes;"> </span>This is a great example of mixed use development.</span></div><div class="MsoNormal" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0in 0in 0pt;"><span style="font-family: Calibri;">For more information, visit <a href="http://www.oldconventioncenter.com/index.php">http://www.oldconventioncenter.com/index.php</a></span><br />
<br />
<span style="font-family: Calibri;">Source: </span> <a href="http://www.dcist.com/"><span style="font-family: Calibri;">www.dcist.com</span></a></div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><br />
</div>David Corsonhttp://www.blogger.com/profile/05431314482910006002noreply@blogger.com0tag:blogger.com,1999:blog-7738464781185711018.post-18082433474129886052011-04-07T09:30:00.008-04:002011-04-07T09:56:46.697-04:00Howard University Presents Drafted Ten Year Plan<div class="MsoNormal" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0in 0in 0pt;"><span style="font-family: Calibri;"></span><br />
<div class="MsoNormal" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0in 0in 0pt;"><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgqr98Y58P8L0wy8fjZv8pwVVeXwV3hFoGvU1nnXWvCehIRdz7nK2dyOGQhFpsiKewsaIUsP44maJWK_wdsNZjTifBRJR6YpLxbv-OYiJ3_QAqtAp3MGyElEuKviPlstsYmeuI5L8GoHdY/s1600/howard_university.jpg" imageanchor="1" style="clear: left; cssfloat: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="166" r6="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgqr98Y58P8L0wy8fjZv8pwVVeXwV3hFoGvU1nnXWvCehIRdz7nK2dyOGQhFpsiKewsaIUsP44maJWK_wdsNZjTifBRJR6YpLxbv-OYiJ3_QAqtAp3MGyElEuKviPlstsYmeuI5L8GoHdY/s200/howard_university.jpg" width="200" /></a>Last week, Howard presented its ten year plan to the ANC1b Design Review Committee.<span style="mso-spacerun: yes;"> </span>While Howard was not seeking any votes, they wanted to begin sharing the proposed draft during the early stages to allow input.</div></div><div class="MsoNormal" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;">All universities in DC are required to submit a ten year plan.<span style="mso-spacerun: yes;"> </span>Howard has already shared it with DDOT in order to discuss closing a couple of blocks off to traffic, as well as new sidewalk routes for students.</div></div><div class="MsoNormal" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0in 0in 0pt;"><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;">Currently, Howard has about 10,000 students and has in the past been up to 12,000.<span style="mso-spacerun: yes;"> </span>They have a serious shortage of housing for students, especially for freshmen and sophomores, with only a total of 4,600 beds available for all students now.<span style="mso-spacerun: yes;"> </span>Three buildings are immediately off campus, two the south and one to the north.<span style="mso-spacerun: yes;"> </span>Both are inconvenient for students to get to campus, and don’t even have air conditioning.</div></div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0in 0in 0pt;">Howard is proposing to initiate a three phase process which will greatly revitalize its campus.<span style="mso-spacerun: yes;"> </span>In order to prepare for this, Howard has done an extensive engineering study, worked with faculty, as well as local residents.<span style="mso-spacerun: yes;"> </span>The result is a three phase program (see timeline below) that will address three crucial areas:</div><div class="MsoListParagraphCxSpFirst" style="margin: 0in 0in 0pt 0.5in; mso-list: l1 level1 lfo1; text-indent: -0.25in;"><span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">1)<span style="font-family: 'Times New Roman';"> </span></span></span>Add more housing on campus for students and new faculty which will improve the student life experience</div><div class="MsoListParagraphCxSpMiddle" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0in 0in 0pt 0.5in; mso-list: l1 level1 lfo1; text-indent: -0.25in;"><span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">2)<span style="font-family: 'Times New Roman';"> </span></span></span>Increase the number of labs for S.T.E.M. and other sciences so Howard can be ranked number one in research again (currently number two for its division).</div><div class="MsoListParagraphCxSpLast" style="margin: 0in 0in 0pt 0.5in; mso-list: l1 level1 lfo1; text-indent: -0.25in;"><span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">3)<span style="font-family: 'Times New Roman';"> </span></span></span><span style="mso-spacerun: yes;"> </span>Address the crumbling infrastructure of existing buildings</div><div class="MsoNormal" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0in 0in 0pt;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgSwp2fQFFkf6yNuIML6ZuQNQCFrH3GuvJaFrqQfcGsVIBYqdd5ERcAkpvKCfRsdMmfcY8SG1uPaT6h7yxQA8LTPJOIQHl4KI7EdswXSoy2kmrqkRlkMvu97L9jEeGPLTZqixOzB_ZyP3M/s1600/hu_campusplandraft-150x150.jpg" imageanchor="1" style="clear: left; cssfloat: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" r6="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgSwp2fQFFkf6yNuIML6ZuQNQCFrH3GuvJaFrqQfcGsVIBYqdd5ERcAkpvKCfRsdMmfcY8SG1uPaT6h7yxQA8LTPJOIQHl4KI7EdswXSoy2kmrqkRlkMvu97L9jEeGPLTZqixOzB_ZyP3M/s1600/hu_campusplandraft-150x150.jpg" /></a>The first phase will concentrate on adding student housing which will add 1,300 new beds.<span style="mso-spacerun: yes;"> </span>Once they are completed, the three exiting dorms outside of campus will be repurposed, possibly for faculty housing (about 800 beds).<span style="mso-spacerun: yes;"> </span>There are also two proposed research buildings.<span style="mso-spacerun: yes;"> </span>All the new buildings are to be built on existing parking lots, and the goal is to begin to grow Howard more west of Georgia Avenue.</div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt;">In order to address the possible growing parking problem in the community, Howard has already begun a transportation reduction plan.<span style="mso-spacerun: yes;"> </span>However, the design review committee stressed Howard provides a more detailed parking plan in the near future.</div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt;">It was also brought up by the committee to incorporate the buildings Howard owns outside of the immediate campus area, including the one on the 1800 block of 7<sup>th</sup> Street, NW, as well as the CVS at 7<sup>th</sup> and Florida, NW.<span style="mso-spacerun: yes;"> </span>The committee stressed Howard should work more with the community with regards to its real estate holdings, especially since many of these properties are not being utilized in a way that benefits the community.<span style="mso-spacerun: yes;"> </span>Many of their properties are underutilized, leaving them to be mostly empty buildings with little foot traffic. </div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt;">Howard will be presenting to the committee with a formal plan in the near future.<span style="mso-spacerun: yes;"> </span>At that time, the committee will vote on whether or not to recommend it to the ANC1b for a vote.</div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; mso-outline-level: 2;"><b><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">New Construction & Renovation Timeline</span></b></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.5in;"><b><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">1-3 years:</span></b><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';"> (Phase 1) </span></div><ol type="1"><li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l0 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Science, Technology, Engineering, Mathematics (STEM) Building </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l0 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Computational Sciences & Retail </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l0 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Underclassmen Dorm #1 </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l0 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Underclassmen Dorm #2 </span></li>
</ol><div class="MsoNormal" style="margin: 0in 0in 0pt 0.5in; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><b><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">3-5 years:</span></b><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';"> (Phase 2)</span></div><ol start="5" type="1"><li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l0 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Wellness, Recreation, Residences, Retail </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l0 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Blackburn Center Renovation </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l0 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">School of Communications, Retail </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l0 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Support Services </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l0 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Nursing, Allied Health, Pharmacy Schools </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l0 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Nanotechnology Building </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l0 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Biomedical Engineering, Retail </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l0 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Upperclassmen Dorm #1, Retail </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l0 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Miner Building renovation </span></li>
</ol><div class="MsoNormal" style="margin: 0in 0in 0pt 0.5in; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><b><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">5-7 years:</span></b><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';"> (Phase 3)</span></div><ol start="14" type="1"><li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l0 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Intercollegiate Athletics Complex </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l0 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Graduate/Workforce Housing </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l0 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Upperclassmen Dorm #2, Retail </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l0 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Teaching and Learning Building </span></li>
</ol><div class="MsoNormal" style="margin: 0in 0in 0pt 0.5in; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><b><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Future phase capacity:</span></b><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';"></span></div><ol start="18" type="1"><li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l0 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Academic/Athletic space </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l0 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Institutional Infill </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l0 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Middle School </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l0 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Academic/Research </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l0 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Academic/Research </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l0 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Academic/Research </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l0 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Academic/Research </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l0 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Academic/Research </span></li>
</ol><div class="MsoNormal" style="margin: 0in 0in 0pt; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; mso-outline-level: 2;"><b><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Proposed Renovation Projects</span></b></div><ul type="disc"><li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l2 level1 lfo3; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Howard University Hospital </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l2 level1 lfo3; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Howard University Hospital Cancer Center </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l2 level1 lfo3; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Residence Life </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l2 level1 lfo3; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Athletics </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l2 level1 lfo3; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Founders Library </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l2 level1 lfo3; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">School of Dentistry </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l2 level1 lfo3; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Adams </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l2 level1 lfo3; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">School of Engineering </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l2 level1 lfo3; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Biology </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l2 level1 lfo3; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Chemistry </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l2 level1 lfo3; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Seely Mudd </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l2 level1 lfo3; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Douglass Hall </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l2 level1 lfo3; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Locke Hall </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l2 level1 lfo3; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">C.B. Powell </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l2 level1 lfo3; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">School of Architecture </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l2 level1 lfo3; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">School of Fine Arts </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l2 level1 lfo3; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Physics </span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l2 level1 lfo3; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="mso-bidi-font-family: 'Times New Roman'; mso-fareast-font-family: 'Times New Roman';">Rankin Chapel </span></li>
</ul><div class="MsoNormal" style="margin: 0in 0in 0pt;"><br />
</div></div>David Corsonhttp://www.blogger.com/profile/05431314482910006002noreply@blogger.com0tag:blogger.com,1999:blog-7738464781185711018.post-86699335564188210912011-04-04T10:35:00.000-04:002011-04-04T10:35:36.926-04:00Hotel Back on Track at 13th and U Streets, NW<div class="MsoNormal" style="margin: 0in 0in 0pt;"><span style="font-family: Calibri;">Looks like JGB, the new powerhouse developer of U Street, is moving forward on the proposed hotel at 13<sup>th</sup> and U Streets, NW.<span style="mso-spacerun: yes;"> </span>Now the site of the Rite Aid and other retail, those tenants were told they could not renew their leases beyond June 2012, according to </span><a href="http://www.washingtonblade.com/2011/03/24/center-faces-displacement-again/"><span style="font-family: Calibri;">the Washington Blade</span></a><span style="font-family: Calibri;">.<span style="mso-spacerun: yes;"> </span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><span style="font-family: Calibri;">JGB has recently aquired many parcels of land in the U Street area, including Atlantic Plumbing, as well as 14th and S Streets, NW, and it looks like they may end up with the WMATA parcels at 8th and Florida (they outbidded the other two projects by $6M).</span></div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><span style="font-family: Calibri;">JBG is looking to build a 239 guest room, four star boutique hotel (my guess is a Kimpton), 4,500 square feet of meeting space, and 25,000 feet of retail space.</span></div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><span style="font-family: Calibri;">Although residents have expressed concern about the proposed building height (103 feet high), this would bring more daytime foot traffic to U Street, which is sorely needed in order for the businesses to continue to flourish.<span style="mso-spacerun: yes;"> </span>Also, the added tourists and business travelers would continue to inject money into the local economy.</span></div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><span style="font-family: Calibri;">As expressed above, I think we might end up with a Kimpton since this boutique chain gravitates towards trendy locations.<span style="mso-spacerun: yes;"> </span>For more information, check out the </span><a href="http://www.csnadc.org/joomla/"><span style="color: purple; font-family: Calibri;">U Street Neighborhood Association’s</span></a><span style="font-family: Calibri;"> story on this development.</span></div>David Corsonhttp://www.blogger.com/profile/05431314482910006002noreply@blogger.com0tag:blogger.com,1999:blog-7738464781185711018.post-86076030317075121932011-03-29T12:02:00.000-04:002011-03-29T12:02:31.476-04:00What Phasing out Fannie May and Freddie Mac Means to You Part II<div class="MsoNormalCxSpMiddle" style="line-height: normal; margin: auto auto 0pt; mso-add-space: auto;"><b style="mso-bidi-font-weight: normal;">Last week, we discussed what the history and the proposals submitted to congress recommending changes to Fannie and Freddie. Part II will discuss what this means for you.</b></div><div class="MsoNormalCxSpMiddle" style="line-height: normal; margin: auto auto 0pt; mso-add-space: auto;"><br />
</div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: Calibri;">What this means for you?</span></b></div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><span style="font-family: Calibri;">Through these two firms, the 30 yr fixes loan has been made readily available.<span style="mso-spacerun: yes;"> </span>This has been important in terms of providing stability in terms of homeowners’ monthly budgets and housing prices.<span style="mso-spacerun: yes;"> </span></span></div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><span style="font-family: Calibri;">If the private sector took over mortgages, the 30 yr fixed loan could become more expensive.<span style="mso-spacerun: yes;"> </span>There is debate regarding how much the interest rate could increase to cover the risk, but some say as high as 3%.<span style="mso-spacerun: yes;"> </span>This would raise a monthly payment for every $100K borrowed to increase from $537 to $733 per month (an increase of $2,352 per year).</span></div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><span style="font-family: Calibri;">The bottom line is there will probably not be any significant changes during the next five years to these loans. The other good news is other countries with a higher percentage of ownership are able to offer different alternatives to the 30 year fixed mortgage. </span></div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><span style="font-family: Calibri;">The U.S. has a home ownership rate of 66.5%, down from 69.2% in 2004.<span style="mso-spacerun: yes;"> </span>Yet some countries have a higher percentage of ownership then the U.S.:</span></div><ul type="disc"><li class="MsoNormal" style="background: white; color: #333333; line-height: 14.4pt; margin: 0in 0in 0pt; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="font-family: 'Tahoma','sans-serif'; font-size: 8.5pt; mso-fareast-font-family: 'Times New Roman';">Ireland: 74.5% </span></li>
<li class="MsoNormal" style="background: white; color: #333333; line-height: 14.4pt; margin: 0in 0in 0pt; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="font-family: 'Tahoma','sans-serif'; font-size: 8.5pt; mso-fareast-font-family: 'Times New Roman';">Australia and the United Kingdom: 70% </span></li>
<li class="MsoNormal" style="background: white; color: #333333; line-height: 14.4pt; margin: 0in 0in 0pt; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="font-family: 'Tahoma','sans-serif'; font-size: 8.5pt; mso-fareast-font-family: 'Times New Roman';">Canada: 68.4% </span></li>
<li class="MsoNormal" style="background: white; color: #333333; line-height: 14.4pt; margin: 0in 0in 0pt; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="font-family: 'Tahoma','sans-serif'; font-size: 8.5pt; mso-fareast-font-family: 'Times New Roman';">Japan: 61%</span></li>
</ul><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><span style="color: #222222; font-family: 'Georgia','serif'; font-size: 14pt;"><a href="http://knowledge.wharton.upenn.edu/article.cfm?articleid=2737"><span style="color: purple;">Source Whaton Business School</span></a></span></div>David Corsonhttp://www.blogger.com/profile/05431314482910006002noreply@blogger.com0tag:blogger.com,1999:blog-7738464781185711018.post-61345988239484235252011-03-23T12:31:00.000-04:002011-03-23T12:31:52.703-04:00What Phasing out Fannie May and Freddie Mac Means to You Part 1<div class="MsoNormalCxSpFirst" style="line-height: normal; margin: auto auto 0pt; mso-add-space: auto;"><b style="mso-bidi-font-weight: normal;">What Phasing out Fannie May and Freddie Mac Means to You</b></div><div class="MsoNormalCxSpMiddle" style="line-height: normal; margin: auto auto 0pt; mso-add-space: auto;"><br />
<b style="mso-bidi-font-weight: normal;">History:</b></div><div class="MsoNormalCxSpMiddle" style="line-height: normal; margin: auto auto 0pt; mso-add-space: auto;">Fannie May was a government agency created in 1938, and in 1968 was converted to a publicly traded company.<span style="mso-spacerun: yes;"> </span>Freddie Mac was created by the government in 1970 as a publicly traded company to provide competition for Fannie May.</div><div class="MsoNormalCxSpMiddle" style="line-height: normal; margin: auto auto 0pt; mso-add-space: auto;">Their primary role is to buy and insure mortgages issued by private lenders, with most loans being bundled into mortgage securities sold to investors.<span style="mso-spacerun: yes;"> </span>They basically provide investors a certain guarantee that interest and principal payments will be made even if homeowners default.<span style="mso-spacerun: yes;"> </span></div><div class="MsoNormalCxSpMiddle" style="line-height: normal; margin: auto auto 0pt; mso-add-space: auto;">Fannie May was a government agency that was federally backed at one time, so investors assume the government will make good on these two firms’ obligations.</div><div class="MsoNormalCxSpMiddle" style="line-height: normal; margin: auto auto 0pt; mso-add-space: auto;"><b style="mso-bidi-font-weight: normal;">Problem:</b></div><div class="MsoNormalCxSpMiddle" style="line-height: normal; margin: auto auto 0pt; mso-add-space: auto;">Mismanagement and guaranteeing risky mortgages issued by private lenders, led to Fannie and Freddie holding high risk loans.<span style="mso-spacerun: yes;"> </span>When the housing bubble burst in 2008, many of these loans went into default and large losses were incurred by both firms.<span style="mso-spacerun: yes;"> </span>The government took over the firms, wiping out the shareholders and costing the tax payers $130 billion in bailouts. </div><div class="MsoNormalCxSpMiddle" style="line-height: normal; margin: auto auto 0pt; mso-add-space: auto;"><b style="mso-bidi-font-weight: normal;">Proposal:</b></div><div class="MsoNormalCxSpMiddle" style="line-height: normal; margin: auto auto 0pt; mso-add-space: auto;">The Department of the Treasury and the Department of Housing and Urban Development sent Congress a proposal last month outlining three proposals:</div><div class="MsoNormalCxSpLast" style="line-height: normal; margin: auto auto 0pt; mso-add-space: auto;"><br />
</div><div class="MsoListParagraphCxSpFirst" style="line-height: normal; margin: 0in 0in 0pt 0.5in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -0.25in;"><span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;"><span style="font-family: Calibri;">1)</span><span style="font: 7pt 'Times New Roman';"> </span></span></span><span style="font-family: Calibri;">First option would dramatically reduce the government’s role insuring and guaranteeing mortgages.<span style="mso-spacerun: yes;"> </span></span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;"><span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;"><span style="font-family: Calibri;">a.</span><span style="font: 7pt 'Times New Roman';"> </span></span></span><span style="font-family: Calibri;">This would be limited to government programs such as FHA and other programs targeted to creditworthy lower and moderate income borrowers.</span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;"><span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;"><span style="font-family: Calibri;">b.</span><span style="font: 7pt 'Times New Roman';"> </span></span></span><span style="font-family: Calibri;">Private lenders would be responsible for providing and insuring mortgages.</span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt 0.5in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -0.25in;"><span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;"><span style="font-family: Calibri;">2)</span><span style="font: 7pt 'Times New Roman';"> </span></span></span><span style="font-family: Calibri;">Second option is similar to the first option, but provides a mechanism to ensure access to credit during a housing crisis.</span></div><div class="MsoListParagraphCxSpLast" style="line-height: normal; margin: 0in 0in 0pt 0.5in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -0.25in;"><span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;"><span style="font-family: Calibri;">3)</span><span style="font: 7pt 'Times New Roman';"> </span></span></span><span style="font-family: Calibri;">Third option is also similar to the first option, but adds an insurance program that is privately funded to secure mortgages.</span></div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt 0.25in;"><br />
</div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><span style="font-family: Calibri;">During the phase out period, the government would implement restrictions on loan amounts and increase fees to drive more people from Fannie, Freddie, and FHA loans to the private market.</span></div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: Calibri;">What this means for you?</span></b></div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><span style="font-family: Calibri;">Visit my blog tomorrow to find out. </span></div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: Calibri;">Question of the Day: How do you think this will affect you as a buyer or seller?</span></b></div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><span style="font-family: Calibri;">Please feel free to leave comments and I will use these in the article tomorrow.<span style="mso-spacerun: yes;"> </span>Thank you!</span></div><br />
<a href="http://knowledge.wharton.upenn.edu/article.cfm?articleid=2737">Source Whaton Business School</a>David Corsonhttp://www.blogger.com/profile/05431314482910006002noreply@blogger.com1tag:blogger.com,1999:blog-7738464781185711018.post-39900373737639917132011-03-21T21:43:00.000-04:002011-03-21T21:43:54.747-04:00DC Metro Area Housing Market Has Mixed Results<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg7n5Hj6UtKEH2N8_h-vkGTl-E-kxSqvoRQ_TOtgJ4jZde2ctG99u5M0pIES5iJD7vUXmAYiVer6eKUlRHnvjiDNZYjSmIFYWzijMY22g9Tor8qZIiZqwb63OcXEez6ot_vJOm6WQ4Ib3Y/s1600/dc+row+houses.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="215" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg7n5Hj6UtKEH2N8_h-vkGTl-E-kxSqvoRQ_TOtgJ4jZde2ctG99u5M0pIES5iJD7vUXmAYiVer6eKUlRHnvjiDNZYjSmIFYWzijMY22g9Tor8qZIiZqwb63OcXEez6ot_vJOm6WQ4Ib3Y/s320/dc+row+houses.jpg" width="320" /></a>Sales of existing homes in the DC metro area are up compared to last year (5.8%), however home prices are slightly down. The median price of an existing home sale in the Washington area was down to $287,500 (a -1.1% change compared to last year).<br />
<div class="MsoNormal"><o:p></o:p></div><div class="MsoNormal"><br />
</div><div class="MsoNormal">Even with the economy improving, housing prices are still not rising as fast as some hope, although they are higher than during the lowest point of the housing slump (July 2010).<o:p></o:p></div><div class="MsoNormal"><br />
</div><div class="MsoNormal">Still people are having problems purchasing homes due to tight credit restrictions, and cancellations from appraisals not supporting prices negotiated between buyers and sellers. <o:p></o:p></div><div class="MsoNormal"><br />
</div><div class="MsoNormal">The good news is the market is definitely improving, but it is at an erratic rate with ups and downs. With raising interest rates, it is important not to wait too long to act.<o:p></o:p><br />
<br />
Source: Washington Business Journal</div>David Corsonhttp://www.blogger.com/profile/05431314482910006002noreply@blogger.com0tag:blogger.com,1999:blog-7738464781185711018.post-23018887135183712952011-03-17T21:58:00.001-04:002011-03-17T21:59:25.718-04:00What's New on U Street<span class="Apple-style-span" style="font-family: Verdana, sans-serif;">March seems to be a busy time on U Street. People are out and about enjoying the warmer weather, but what are they going to find when they go to U Street?</span><br />
<b><span class="Apple-style-span" style="font-family: Verdana, sans-serif;"><br />
</span></b><br />
<b><span class="Apple-style-span" style="font-family: Verdana, sans-serif;">What's Coming Soon:</span></b><br />
<br />
<ul><li><span class="Apple-style-span" style="font-family: Verdana, sans-serif;">Duncan Donuts and Subway will be next to Marvin on 14th Street</span></li>
<li><span class="Apple-style-span" style="font-family: Verdana, sans-serif;">Lost Society (a boutique steak house) will be on 14th and U</span></li>
<li><span class="Apple-style-span" style="-webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px; font-family: Verdana, sans-serif; line-height: 18px;">Habte Sequar of Loford LLC has purchased land at 11th and V with plans for a new residential building</span></li>
</ul><br />
<b><span class="Apple-style-span" style="font-family: Verdana, sans-serif;">What's Newly Opened:</span></b><br />
<br />
<ul><li><span class="Apple-style-span" style="font-family: Verdana, sans-serif;">Touchdown, a new sports bar where Momo's use to be opened Tuesday</span></li>
<li><span class="Apple-style-span" style="font-family: Verdana, sans-serif;">Divine Shine, a new shoe shine, handbag, and repair shop, opened at 723 T Street</span></li>
</ul><br />
<b><span class="Apple-style-span" style="font-family: Verdana, sans-serif;">What's No Longer There:</span></b><br />
<br />
<ul><li><span class="Apple-style-span" style="font-family: Verdana, sans-serif;">Results has closed their doors on U Street, but will soon be replaced by a newly remodeled Vida Fitness</span></li>
<li><span class="Apple-style-span" style="font-family: Verdana, sans-serif;">Greater Goods at 1626 U Street has closed its doors</span></li>
</ul><br />
<br />
For more information, please view the source listed below.<br />
<br />
<a href="http://www.ustreet-dc.org/joomla/content/view/337/29/">Source: U Street Neighborhood Association</a>David Corsonhttp://www.blogger.com/profile/05431314482910006002noreply@blogger.com0tag:blogger.com,1999:blog-7738464781185711018.post-76985886640408705412011-03-16T08:55:00.000-04:002011-03-16T08:55:41.021-04:00Wonder Bread Factory's Uncertain Furture<div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjJrlJlt7v1H5ksawcSXJTUwCMKP57FrZ1wNmJrRqihy8rY81HzuGofEsJL7ha5CzAv53g9Br2bvkmymIcP5_QJ1idDJ_AgkUHUu-3GYCUsllYWx987kYDveWL4TjYyty5kiH4Wif-kHvs/s1600/wonder+bread.jpg" imageanchor="1" style="clear: left; cssfloat: left; float: left; height: 157px; margin-bottom: 1em; margin-right: 1em; width: 203px;"><img border="0" height="150" r6="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjJrlJlt7v1H5ksawcSXJTUwCMKP57FrZ1wNmJrRqihy8rY81HzuGofEsJL7ha5CzAv53g9Br2bvkmymIcP5_QJ1idDJ_AgkUHUu-3GYCUsllYWx987kYDveWL4TjYyty5kiH4Wif-kHvs/s200/wonder+bread.jpg" width="200" /></a></div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><br />
</div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;">With the development boom finally starting to reach Shaw, it is a shame that the Wonder Bread Factory faces such a bleak history. Douglas Developement who owns the property, has put virtually no money into mantaining the structure, yet want top dollar for it.</div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><br />
</div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;">The Wonder Bread Factory is located at near the corner of 7th and S Streets, NW, and directly adjacent to the new Progression Place currently under construction (new home of the United Negro College Fund). </div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><br />
</div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;">DCRA has deemed the property structually unsafe as of March 14th and requires significant work before it can be used again.</div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><br />
</div>With all the developement happening in the area, it would be a shame if the building was lost for good.<a href="http://www.princeofpetworth.com/2011/03/dcra-finds-the-wonder-bread-factory-in-shaw-to-be-structurally-unsafe/#comments">Source: Prince of Petworth</a>David Corsonhttp://www.blogger.com/profile/05431314482910006002noreply@blogger.com0tag:blogger.com,1999:blog-7738464781185711018.post-2843871192350289752011-01-06T15:50:00.000-05:002011-01-06T15:50:06.757-05:00Energy Efficient Tax Deductions Reduced for 2011<div style="background: white;">During the last month of 2010, President Obama singed into law a bill which would allow unemployment benefits and the Bush era tax breaks to continue.<span style="mso-spacerun: yes;"> </span></div><div style="background: white;">What wasn’t publicly promoted was that the law:</div><div style="background: white; margin-left: 0.5in; mso-list: l0 level1 lfo1; tab-stops: list .5in; text-indent: -0.25in;"><span style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";"> </span></span></span>Slashed the popular tax credits for energy-efficient remodeling from the current 30 percent of an improvement's cost ($1,500 maximum per taxpayer) to a 10 percent credit, with a $500 maximum for expenditures on insulation materials, exterior windows and storm doors, skylights and metal and asphalt roofs that resist heat gain. </div><div style="background: white; margin-left: 0.5in; mso-list: l0 level1 lfo1; tab-stops: list .5in; text-indent: -0.25in;"><span style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";"> </span></span></span>New dollar-specific limits on key improvements that had been eligible for 30 percent credits. These include a $150 tax credit limit on the costs of energy-efficient natural gas, propane and oil furnaces, and hot water boilers, plus a $300 credit limit on the costs of central air-conditioning systems, electric heat pump water heaters, biomass stoves for heating or water heating, electric heat pumps, and natural gas and propane water heaters. </div><div style="background: white; margin-left: 0.5in; mso-list: l0 level1 lfo1; tab-stops: list .5in; text-indent: -0.25in;"><span style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";"> </span></span></span>Limits allowable tax credits available for energy-efficient windows installed during 2011 to a total of $200, compared with the previous $1,500. On top of that, it prohibits taxpayers who have taken total tax credits in past years exceeding $500 from claiming any additional credits on energy-conservation projects they undertake in the coming year. </div><div style="background: white;">It is likely this new law will move people away from doing energy efficient improvements to their homes and more kitchen and bathroom remodeling projects like before.<span style="mso-spacerun: yes;"> </span>However, as energy prices continue to increase, taking on these types of projects may be enough of a reward if it means people can save on their energy bills.</div><div style="background: white;"><br />
</div><div style="background: white;">Washington Post</div>David Corsonhttp://www.blogger.com/profile/05431314482910006002noreply@blogger.com0tag:blogger.com,1999:blog-7738464781185711018.post-51115257629379233192011-01-06T15:46:00.001-05:002011-01-06T15:48:33.698-05:00Federal Government Extends Deduction of Mortgage Insurance<div class="MsoNormal" style="margin: 0in 0in 0pt;"><span style="font-family: Arial;">Just another example of how the Federal Government is trying to entice more people to buy homes by extending tax incentives.</span></div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><span style="font-family: Arial;">Federal Government has extended the mortgage insurance (MI) tax deductibility to 2011.</span></div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><span style="font-family: Arial;">Here is a quick breakdown of what it is, how much the average home owner can expect, and how long it will be extended for:</span></div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><br />
</div><ul style="margin-top: 0in;" type="disc"><li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l0 level1 lfo1; tab-stops: list .5in;"><span style="font-family: Arial;">The law provides for an itemized deduction on federal tax returns for the cost of private mortgage insurance paid by eligible borrowers.</span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l0 level1 lfo1; tab-stops: list .5in;"><span style="font-family: Arial;">The law allows qualified borrowers with adjusted gross income of up to $100K to deduct 100% of their MI premiums on the federal tax returns.</span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l0 level1 lfo1; tab-stops: list .5in;"><span style="font-family: Arial;">According to an analysis by Bankrate, a leading source of consumer financial information, a homeowner with a $180,000 mortgage would save about $351 in taxes a year.</span></li>
<li class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l0 level1 lfo1; tab-stops: list .5in;"><span style="font-family: Arial;">This law applies from 2007 – 2011 and may be extended if congress chooses to do so.</span></li>
</ul><div class="MsoNormal" style="margin: 0in 0in 0pt; mso-list: l0 level1 lfo1; tab-stops: list .5in;"><span style="font-family: Arial;"><a href="http://www.pmi-us.com/tax/faq.html?elq=8826aee68b0d4ded8150651d5b52537b#what">Click here</a> for more information on mortgage insurance deductions</span></div>David Corsonhttp://www.blogger.com/profile/05431314482910006002noreply@blogger.com0tag:blogger.com,1999:blog-7738464781185711018.post-54297065273200625472010-12-30T08:50:00.000-05:002010-12-30T08:50:54.311-05:00Groundbreaking for United Negro College Fund<span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">After many years of waiting, Shaw residents can finally rejoice with the official (but quiet) groundbreaking of the Progression Place, the new headquarters for the United Negro College Fund at 7th and S Streets, NW.</span><br />
<span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><br />
</span><br />
<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiIU5cYRezrqxq1Z8GHrC1ECJspGPkejZ6HcO1MYyoEB9rUqM737VXGYDSycvvIbaTn97H2SdSStEiDBFXvC5u5WDWgzFStawYtRlEQIoRTlX3kzMlYLL9q6Y0BQJh0kdPB3vxofCkqN5k/s1600/UNCF-HQ-RenderingLarge.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="197" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiIU5cYRezrqxq1Z8GHrC1ECJspGPkejZ6HcO1MYyoEB9rUqM737VXGYDSycvvIbaTn97H2SdSStEiDBFXvC5u5WDWgzFStawYtRlEQIoRTlX3kzMlYLL9q6Y0BQJh0kdPB3vxofCkqN5k/s320/UNCF-HQ-RenderingLarge.jpg" width="320" /></a></div><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><br />
</span><br />
<span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">The original project, Radio One, faced many delays which frustrated Shaw residents to no end. Finally, they pulled out and the city found a new tenant for the project, the United Negro College Fund.</span><br />
<span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><br />
</span><br />
<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiuhSlZy9z6Pncqd31HXIZzY3Azj46whR67QREdw7s8MNO0WZLvwrlO96QW32p1XK3qJvBkTJiacnQ8cPpN0Sykj0bOolp5-e_Fgo5O7_XBrkiyf2qacYuNxyyutc5DvPV_uOefXToMrpU/s1600/groundbreaking+of+progression+place.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="213" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiuhSlZy9z6Pncqd31HXIZzY3Azj46whR67QREdw7s8MNO0WZLvwrlO96QW32p1XK3qJvBkTJiacnQ8cPpN0Sykj0bOolp5-e_Fgo5O7_XBrkiyf2qacYuNxyyutc5DvPV_uOefXToMrpU/s320/groundbreaking+of+progression+place.jpg" width="320" /></a></div><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><br />
</span><br />
<span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">Ellis Development is the developer of </span><span class="Apple-style-span" style="line-height: 20px;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">Progression Place and it will have 100k s.f. of office space, 224 apartments, and wrap-around ground level retail, serviced by 188 below-grade parking spaces. The development plans also call for a face-lift for 7th Street retail frontages.</span></span><br />
<span class="Apple-style-span" style="line-height: 20px;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><br />
</span></span><br />
<span class="Apple-style-span" style="line-height: 20px;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">Source: <a href="http://dcmud.blogspot.com/2010/12/construction-begins-quietly-at-7th-s.html">DCMud</a></span></span>David Corsonhttp://www.blogger.com/profile/05431314482910006002noreply@blogger.com0tag:blogger.com,1999:blog-7738464781185711018.post-10434533865819375912010-12-29T10:28:00.001-05:002010-12-30T08:28:08.360-05:00Washington Region Posts Gains in Housing PricesThe Washington region is one of only four metropolitan areas that has posted a gain in housing prices in the country. <br />
<br />
Home prices climbed 3.7% in Washington in October from a year earlier, making it one of the few in the nation to actually go up.<br />
<br />
A strong job market, an increase in population, increasing rental prices, and low interest rates have contributed to this increase in demand for housing in the DC region. <br />
<br />
If you are considering to buy a house in the near future, now may be a good time to start looking before the interest rates go up and/or housing prices continue to climb.<br />
<br />
More information at <a href="http://www.washingtonpost.com/wp-dyn/content/article/2010/12/28/AR2010122801269.html">http://www.washingtonpost.com/wp-dyn/content/article/2010/12/28/AR2010122801269.html</a>David Corsonhttp://www.blogger.com/profile/05431314482910006002noreply@blogger.com0tag:blogger.com,1999:blog-7738464781185711018.post-77373116819348367332010-12-29T10:21:00.001-05:002010-12-30T08:28:46.589-05:00DC Rental Prices are up 22%DC rental prices continue to go up with fewer and fewer vacancies (NY has more than DC now). Prices have increased 22% in 2009 from a decade earlier, combined with the fact that DC now has over 600,000 residents (an increase for the first time sine Truman) has led to fewer vacancies with increasing prices for renters.<br />
<br />
More information at <a href="http://voices.washingtonpost.com/local-breaking-news/dc/the-big-squeeze-dcrent.html">http://voices.washingtonpost.com/local-breaking-news/dc/the-big-squeeze-dcrent.html</a>David Corsonhttp://www.blogger.com/profile/05431314482910006002noreply@blogger.com0tag:blogger.com,1999:blog-7738464781185711018.post-31321320466637249472010-12-21T11:46:00.002-05:002010-12-21T11:46:21.360-05:00DC $5,000 Homebuyer Tax Credit Extended Two Years Through 2011<div><span style="color: black; font-family: "Arial", "sans-serif"; font-size: 10pt;">Congresswoman Eleanor Holmes Norton succeeded again in securing another two-year extension of the popular $5,000 DC homebuyer tax credit, and business incentives, including a $3,000 wage credit for each DC resident hired by, or already employed at, many DC businesses. The incentives will be retroactive for 2010 and will continue through 2011. Thanks to Congresswoman Norton for her continued efforts. <a href="http://r20.rs6.net/tn.jsp?llr=uuvwo6cab&et=1104105681758&s=11428&e=001S4SvhiOtYXPCK353ljwtjZx2Qxi7m291PdRm2nMwdvAMfGWyIOxHJP7K1JQUlYWuLGOEHYCD8IvMSPwUsNSfQeT_aOj8MUUmzbuTeMpByPSUDbb6wEZn-vzq0eJkIp-f8o9KwWyalogqNv5BNUZm_UAcCyeZYzIE7oQdz0yRuWjXsNOBfL5IGHV_7EbTBkkIscbXO3MrJa5Njs40rHUI4Q==" linktype="link" shape="rect" style="color: blue; text-decoration: underline;" target="_blank" title="http://r20.rs6.net/tn.jsp?llr=uuvwo6cab&et=1104105681758&s=11428&e=001S4SvhiOtYXPCK353ljwtjZx2Qxi7m291PdRm2nMwdvAMfGWyIOxHJP7K1JQUlYWuLGOEHYCD8IvMSPwUsNSfQeT_aOj8MUUmzbuTeMpByPSUDbb6wEZn-vzq0eJkIp-f8o9KwWyalogqNv5BNUZm_UAcCyeZYzIE7oQdz0yRuWjXsNOBfL5IGHV_7EbTBkkIscbXO3MrJa5Njs40rHUI4Q==" track="on">Read more</a>. </span></div>David Corsonhttp://www.blogger.com/profile/05431314482910006002noreply@blogger.com0