The picture shows a new condo project called Mount Vernon Court located near the new convention center. The address is 426 M Street NW.
A new 10-unit condominium is being built in the historic Mt. Vernon Square area. Residences include a mix of flats, duplexes, and penthouse triplexes. Units feature soaring ceilings, floor to ceiling windows, custom-designed Italian kitchen cabinetry, high-end appliances including Subzero refrigerators and Wolf stoves, spa-styled baths, and private exterior terraces and balconies. Originally priced from the high $400's to mid-$900's. Designed by Arcadia Design Services.Units are still available for sale even though the delivery date is scheduled for February 2006. The condos are not selling nearly as well as condo projects that were completed in 2004 or 2005. The market for condos in DC has declined significantly from the 'glory' days of past years.
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kaboom!
ReplyDeleteI think that until there is a viable place to get groceries, things will not sell well at all over there.
ReplyDeleteThere is a Safeway being built at the CityVista development site which is on the corner of L and 5th St NW.
ReplyDeleteThis is a better location, at least in my opinion, than the old slum rowhouses in Columbia Heights/ U Street/ and NE and SE.
ReplyDeleteBut I am not buying.
My take on this....that neighborhood will probably have less of a depreciation then others (Columbia Heights, Ashburn, etc.) because 1) Its two blocks away from Metro and Convention Center, 2) Very close to Chinatown/East End, Union Station (G'town Law students rent here), and 3) As close to downtown DC you can get (Aside from expensive locales like Dupont, Logan Circle, etc.).
ReplyDeleteBy the way, I noticed that lots of gay men were moving more into the Mt. Vernon Square area (there is a gay church called the Metro. Community Church in that area). Maybe they are being priced out of Logan. And there's a good correlation between "gaybourhoods" (OMG, I can't believe I used that cheesy term) and RE prices.
MCC the "gay church" has been in the neighborhood for the last 18 years, long before houses and property became so expensive. But like all the churches in the neighborhood they only have one agenda. Self-serving. As with the black churches that have been in the neighborhood over 50 years, and there is one on every corner, not one has ever, ever helped the kids in the neighborhood in the over 20 years I've lived there. All they're are really good for is tieing the traffic up on Sunday with all of their congretations that live in the neighborhood. Most especially MCC and United House of Prayer, the church on the corner of 5th and N and the church also on 6th and N. They do absolutely NOTHING for Mt. Vernon Square
ReplyDeleteDon't even get me started on those flippin Churchs in the area. Tie up traffic and make noise outside is for sure!
ReplyDeleteWhy: Well they don't live here! Look at the license plates - all driving their Cadillacs and HUGE SUV's from VA and MD.
They should NOT be allowed to tie up parking for residents - they don't give a damn about the hood.