Address: 1101 Pennsylvania Ave SE Type: Mixed Use: Retail and Condos No. of units: 40 Affordable Housing: Available Type of Unit: One-, Two-, Three- bedroom Price:$500k - $1M Status: Under Construction First Move-in: Early 2019 Developer: Perseus Realty
Penn Eleven is the name for the development at the former Frager’s Hardware store on Capitol Hill. The project is set to include over 40 luxury condos, ground floor retail, an underground parking lot and of course, the iconic Frager’s in its original location.
Four years ago, the Capitol Hill landmark was badly damaged in a fire, likely caused by a cigarette butt. Construction began on the development in April of 2017. Things are expected to be complete by fall 2019. The construction will stabilize the historic building and when Frager’s returns, there will be a large outdoor garden center.
The Historic Preservation Review Board approved the development quickly, as the neighborhood saw the burned-out hardware store as an eyesore while simultaneously wishing it was reopened.
The condos at Penn Eleven will be sized from 700 to 2,000 square feet. Costs are expected to range from $500,000 to $800,000 with the penthouses closer to $1 million. Perseus Realty, who acquired the property two years ago, hopes to have the first buyers move in at the beginning of 2019. Buyers are expected to be small families or retired couples and most likely not first-time home buyers.
Buyers will be all moved in just before Frager’s big 100-year anniversary in 2020. The hardware store signed a 25-year lease to occupy the 6,000 square-foot ground floor of the development. John Weintraub, Frager’s former owner (who is now in his 70s), sold the space to Gina Schaefer and Marc Friedman, who own just under a dozen other hardware stores in the area. Frager’s opened in 1920 by Fritz Frager and Weintraub bought the store in 1975, along with his partner Ed Copenhaver after they fought in the Vietnam War.