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A Petworth home was auctioned off today for $461,000.  If you add in the 6% charged by the auction company the grand total becomes $488,650.  The home at 514 Quincy St NW has 4 bedroom and 2.5 baths.  The total square feet on this Petworth home is 2,562 including the basement square footage.  The property is 2 blocks from the Petworth metro station on the green line.  An agent in our office that attended the auction estimated that over 200 buyers viewed the home on this rainy and dark Wednesday afternoon.  The home needs a full renovation and the sales price would only make sense for an end user. Considering the cost of renovations, the sales price was well beyond what would make sense for a flip.  The auction left many real estate investors who were…

Southwest Waterfront development is taking shape as part of DC’s Anacostia Waterfront Initiative.  This new mixed-use development, called the Wharf, will span 27 acres of land and 24 acres of water from the northern landmark of the Maine Avenue Fish Market to the southern point of Fort McNair.  This swath of land has remained largely untouched since the infamous Urban Renewal 50 years ago. 

The Wharf aims to change the waterfront to include cafes, restaurants, homes, office space, hotels, retail, and public spaces.  Those public spaces will include waterfront parks, promenades, piers, and docks.

The first phase of development along the Southwest Waterfront includes 3 apartment buildings, a cultural venue, a condo building, a co-generation power…

203k renovation loans offer funds for the purchase and renovation of homes and are considered important tools for neighborhood revitalization and homeownership opportunities, according to the U.S. Department of Housing and Urban Development.

Many lenders have issued 203k renovation loans by partnering with state and local housing agencies or nonprofit agencies that renovate homes, and they’ve been quite successful. They’ve found ways to get money into homeowners’ hands with other financial opportunities, like HUD’s HOME, HOPE and Community Development Block Programs.

Other lenders grant 203k renovation loans to prove they are valuable players in low-income communities and to meet Community Reinvestment Act responsibilities. Properties that are…

Condo development near Nationals stadium in Southeast Washington D.C. is certainly going strong. Nationals Park, ranked the 14th most well attended MLB stadium in the U.S., draws more than 2 million visitors per year but baseball fans aren't the only ones flocking to the area -- homebuyers are joining them.

More homebuyers in recent years have been drawn to the condo development near Nationals stadium, an area south of the Capitol and adjacent to the Navy Yard and along the Anacostia River. Nationals stadium opened to the public just four years ago and since then developers, despite the recession at the time, have been hustling to make the community more livable with significant condo development. This area is known as Capitol Riverfront.

Condo…

The Petworth Safeway at 3830 Georgia Avenue, NW closed in September for major renovations.  The previous building, one block from the Georgia Avenue-Petworth Metro station, was known as the “Stinky Safeway,” but hopefully the new mixed-use Petworth Safeway development will have a more complimentary nickname.

Years ago, the Petworth neighborhood was promised a replacement for their aging Safeway, but nothing materialized until now.  Some residents are not particularly fond of the design of the new Petworth Safeway.  They wish that signature architectural elements of the old building, like the arched facade, had been incorporated.  But pretty much everyone agrees that the new building will certainly be better than the current 50-year-old one, and are very…

The Wonder Bread Factory in Shaw neighborhood, where row houses and condo conversions are dominating the market, is welcoming the first of its office tenants. The Wonder Bread Factory in Shaw, located at 641 S. St. NW, has leased 20,817 square feet to WorkSpaces LLC, which plans to move in when the project is complete in January 2013.

Douglas Development Corp., which is renovating the long-dormant Wonder Bread Factory in Shaw with loft-like industrial spaces, will eventually aim to lease 98,000 square feet of office space and about 24,000 square feet of retail. The Wonder Bread Factory in Shaw was originally home to Dorsch’s White Cross Bakery before it was purchased by Continental Bakery in 1936 for the production of Hostess and Wonder Bread products.

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The CityCenterDC complex will be on the site of the former Washington Convention Center, which was torn down in 2004.  The 10-acre development near Chinatown is bordered by 11th Street NW to the west, H Street NW to the south, 9th Street NW to the east, and New Youk Avenue NW to the north.  The first phase of CityCenterDC will consist of six new buildings and a public plaza.  

CityCenterDC has been in the works since 2003, but plans were delayed after the financial collapse, and construction did not start until 2011. The first six buildings will house 515,000 square feet of office space, 458 apartments, 216 condominiums, 295,000 square feet of retail/restaurants, 1,570 underground parking spaces.  In a later phase, two more buildings will be added -- a…

A new Walmart is coming to the Chinatown area on H Street near the intersection with New Jersey Avenue NW in Ward 6.  It will be next to Gonzaga High School and across from the Government Printing Office.  The Walmart coming to Chinatown will be one of the first Walmart stores in the country to have apartments in the complex, making it the most urban of the new Walmart stores coming to DC.

The new development will include a 4-story 85,000-square-foot Walmart Supercenter encased in large glass windows.  This is about half the size of an average Walmart, but within that Supercenter, shoppers will find 40,000 square feet of grocery and pharmacy areas.  Surrounding the Walmart coming to the Chinatown area will be a mixed-use building containing retail at…

The Brightwood Walmart is coming to Georgia Avenue, NW in Ward 4 near Missouri Avenue.  It will be the first Walmart to open in the District.  The development project began in September 2011, but has been plagued by delays from various opponents.

The new Brightwood Walmart development sits on the site of the former Curtis Chevrolet dealership. After demolition began, residents sought protected status for the site from the Historic Preservation Board.  But development continued after the application was denied.

In February, Occupy DC and Respect DC teamed up to stage a demonstration at the Brightwood Walmart construction site.  The protest prevented some crews from entering the construction site that day, but did not end the project.

Even after the…

Like many communities on the outskirts of Washington D.C.’s long-established downtown and Dupont areas, the Shaw neighborhood  has been slower to change but is now welcoming a surge of enhancing development that’s triggering a hot housing market.

Referred to as the “Harlem of Washington D.C.” for its rich black culture, this area in Northwest along Florida Avenue is predominantly known for Howard University and the U Street corridor of bars, restaurants and shops. Now, its apartment, condos and Victorian row homes are in high demand.

Properties there range from a $267,000, 453-square-foot condo on Marion St. NW to a $1.2 million, 4,200-square-foot townhouse on Florida Avenue NW. House hunters can find 1880 Federal-style single family homes or brick…