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July 1, 2005 News Clips

WASHINGTON, DC NEWS

Protecting Diversity, Affordable Housing
Longtime Residents Join DC Agency to Fight Displacement

by Robert E. Pierre
Washington Post Staff Writer
Thursday, June 30, 2005; Page B03

With its airy entrance and new windows and appliances, and with a jazz band playing under a tent, the Fairmont on 14th Street NW might easily have been mistaken yesterday for a ritzy new condominium throwing a gig to announce its arrival in the neighborhood.

But the featured guests at this party were longtime District residents celebrating the fact that they were not being forced to leave. Across the city, buildings and homes that once housed low-income residents are being renovated, sold and rented to the highest bidder.

"A lot of people have already been priced out," said Robert McDowell Bey, 65, who grew up in the District. Not everyone makes $70,000 or $80,000 a year, he said.

http://www.washingtonpost.com/wp-dyn/content/article/2005/06/29/AR2005062902755.html

 

Intentionally Disabled Parking Meters Irk Businesses, Officials

by Lindsay Ryan
Washington Post Staff Writer
Thursday, June 30, 2005; Page DZ03

Everybody hates parking tickets. And parking meters seem like silent snitches, just waiting to catch parkers lingering a minute too long in a hard-found space.

Yet, deep down inside, drivers know the meters free up spaces that simply would not be available otherwise. The meters do that unless they are rendered useless by people who seek unlimited parking by vandalizing the machines.

Alec Akopov, the owner of Central Liquors at 917 F St. NW, says he calls the police almost every morning. And each morning, his complaint is exactly the same: Parking meter problems are hurting his trade.

http://www.washingtonpost.com/wp-dyn/content/article/2005/06/29/AR2005062900925.html

 

DC Battling Boom in Illegal Work on Homes
Construction Without Permits A Side Effect of Pricey Market

by Yolanda Woodlee
Washington Post Staff Writer
Monday, June 27, 2005; Page A01

The District's skyrocketing real estate prices have fueled an increase in illegal construction as property owners across the city are building and renovating homes without obtaining the required permits, according to DC officials and a review of city records.

Using tips largely supplied by neighbors turning in neighbors, the DC Department of Consumer and Regulatory Affairs issued more than 1,400 stop-work orders for illegal construction during a recent 17-month period and has fined the violators nearly $1 million.

By comparison, Montgomery and Fairfax counties each issue fewer than 50 stop-work orders a year, officials said. Prince George's County officials said they issued about 135 such orders last year.

http://www.washingtonpost.com/wp-dyn/content/article/2005/06/26/AR2005062601005.html

 

New York Ave. Traffic Plans Spark Concerns
DC Residents React To Draft Proposals

by V. Dion Haynes
Washington Post Staff Writer
Sunday, June 26, 2005; Page C01

Commuters through the New York Avenue corridor know about the heavy traffic. Yesterday, the DC Department of Transportation heard from the public on draft proposals -- including the diversion of traffic from Interstate 395 through a new tunnel and overpass -- aimed at minimizing congestion.

But some residents expressed concerns that an overpass project would detract from the look of the neighborhood and that traffic reduction would hurt businesses.

Mary Ann Wilmer, 66, who lives near New York Avenue in Northwest Washington, said something must be done to ease rush-hour traffic from I-395. She said it routinely takes her 20 minutes to travel three blocks.

http://www.washingtonpost.com/wp-dyn/content/article/2005/06/25/AR2005062501097.html

 

Court Ruling on Land Pleases DC Officials
SE Properties Sought for Stadium and Mall

by David Nakamura and Debbi Wilgoren
Washington Post Staff Writers
Friday, June 24, 2005; Page A13

District leaders said a Supreme Court ruling yesterday that gives municipalities broad powers to seize private property will provide the city leverage in its goal to acquire land for two controversial projects, including a new baseball stadium.

Mayor Anthony A. Williams (D) had been closely watching an eminent domain case in which homeowners in New London, Conn., sued the city when it attempted to take their land to develop a shopping mall. The court upheld the right of city governments to force property owners to sell to make way for private development.

DC officials want to acquire 14 acres near the Anacostia waterfront by the end of the year to build a stadium for the Nationals. They also have been trying to buy the 1950s-era Skyland strip mall in Southeast to build a larger, upscale retail complex. In both cases, city officials say they will invoke eminent domain if necessary.

http://www.washingtonpost.com/wp-dyn/content/article/2005/06/23/AR2005062301786.html

 

Cropp Seeks Metro Funding Solution
Council Chairman Says DC Can't Afford Rising Cost

by Eric M. Weiss
Washington Post Staff Writer
Wednesday, June 29, 2005; Page B01

DC Council Chairman Linda W. Cropp (D) yesterday called for new ways of paying for Metro, saying the District cannot afford the increasing costs of the aging transportation system.

Cropp suggested instituting a regional tax, increasing the federal government's share of funding or renegotiating the current funding agreement, which requires the District to pay slightly more than Maryland and much more than Virginia.

"We're willing to pay our fair share, but not more than our fair share," Cropp said. "Metro will eat us alive."

http://www.washingtonpost.com/wp-dyn/content/article/2005/06/28/AR2005062801400.html

 

Voting-Rights Activists in a Blue Mood

by Lori Montgomery and Spencer S. Hsu
Washington Post Staff Writers
Thursday, June 30, 2005; Page DZ02

Ukraine had its Orange Revolution, Georgia had rose. In Kyrgyzstan, pro-democracy demonstrators wear pink.

Now, DC voting-rights activists have settled on a color to symbolize their own somewhat less epic struggle against oppression: In the District, the revolution will be blue.

The new shade goes on display tomorrow, when voting-rights activists wearing blue armbands plan to gather outside the J.W. Marriott Hotel for the opening of the 14th annual session of the parliamentary assembly of the Vienna-based Organization for Security and Cooperation in Europe.

http://www.washingtonpost.com/wp-dyn/content/article/2005/06/29/AR2005062900909.html

 

Nationals No-Shows Could Cost DC in Taxes

by David Nakamura and Thomas Heath
Washington Post Staff Writers
Thursday, June 30, 2005; Page A01

Nearly 250,000 tickets sold by the Washington Nationals have gone unused at Robert F. Kennedy Memorial Stadium, a no-show rate that is slightly higher than normal for professional teams and could mean that the District earns less revenue than expected.

The Nationals sold an average of 32,019 tickets for their first 33 games, from their home opener in April through June 12, a pace that puts them on track to meet their preseason projection of about 2.5 million tickets for the season.

But the average number of people who attended those games was 24,679, according to data provided by the DC Sports & Entertainment Commission, which operates RFK. This figure, known as the turnstile count, is rarely divulged by professional teams but is closely monitored in the sports industry.

http://www.washingtonpost.com/wp-dyn/content/article/2005/06/29/AR2005062902945.html

 

Ogilvy Settles Into New 40,000-SF Home

by Barbra Murray
GlobeSt.com
Last updated: June 30, 2005 10:36am

WASHINGTON, DC-Two months after news emerged of its signing of a long-term lease, Ogilvy Public Relations has relocated to its new 40,000-sf locale in the 252,000-sf office building at 1111 19th St. The global marketing communications firm, having made its home around the corner at 1901 L St. for the last 24 years, decided to make the move in an effort to accommodate company growth and services.

"It gives us the flexibility and facilities we need to better serve our clients and meet the needs of increasingly integrated account and creative teams," Ogilvy Washington office managing director Robert F. Mathias says. Situated in the city's central business district about five blocks northeast of George Washington University and five blocks northwest of the White House, the class A office facility at 1111 19th St.-- is jointly owned Equity Office Properties and TIAA-CREF--was developed in 1979 and underwent a renovation in 1995.

http://www.globest.com/news/317_317/washington/135786-1.html

 

Law Firm Expands Prelease by 25,500 SF

by Barbra Murray
GlobeSt.com
Last updated: June 28, 2005 11:24am

WASHINGTON, DC-The 215,000-sf office building currently under construction at 1801 K St. NW just got a new lease commitment. Two years after having signed a letter of intent to occupy about 155,000 sf of the structure, which is being developed by JBG Cos. and constructed by Clark Construction Group LLC, law firm Kirkpatrick & Lockhart Nicholson Graham extended its prelease agreement by 25,500 sf, leaving it with a total claim of just over 180,000 sf.

CB Richard Ellis's Patrick W. Marr represented K&LNG in negotiating the 15-year lease, the financial terms of which have not been disclosed. Zeke T. Dodson, Richard C. Tonner Jr. and Kerri A. Mulligan of Cassidy & Pinkard spoke for the property owner and are handling leasing at the building. Space is being marketed for $45 per sf, according to Winter 2005 Skyline Report.

http://www.globest.com/news/315_315/washington/135697-1.html

 

Georgetown Area Hotel Changes Hands

by Barbra Murray
GlobeSt.com
Last updated: June 28, 2005 11:16am

WASHINGTON, DC- JBS Ventures LLC has acquired the 47-room European-style Hotel Monticello from Marbury Place LLC for a sum that is not being disclosed by the parties involved; but the property's current assessed value of $4 million offers a low-range indication of what figures may have been involved.

And although the property was renovated five years ago, the new owner plans to upgrade the brick lodging facility before reopening it to accommodate visitors late this summer. The transaction was orchestrated by real estate brokerage firm Molinaro Kroger.

http://www.globest.com/news/315_315/washington/135698-1.html

 

Construction Starts for M Street Office Building Soon

by Barbra Murray
GlobeSt.com
Last updated: June 27, 2005 08:41am

WASHINGTON, DC-Lerner Enterprises has made plans to build a class A 190,000-sf facility at 20 M St. SE, a corner parcel near the Washington Navy Yard and the planned stadium for the Washington Nationals baseball team. Development costs for the endeavor have not been disclosed; but Lerner did pay nearly $3.4 million for the parcel--officially designated Square 698, Lots 1, 2, 3, 20, 804, and 805--back in 2001. And according to DC Marketing Center's 2003 Guide to Development in the District, the valuation of the project is $17.1 million.

While 20 M St. is a speculative project, Lerner decided now is a good time to move forward. Other office development projects have recently reached completion and drawn attention to the area. "The relocation of Navsea Headquarters has initiated activity in this emerging market," a 2003 Spaulding & Slye Colliers report on the Federal Gateway area concludes. "As a result of the 1993 Base Realignment and Closure Act, more than 4,200 Naval Sea Systems Command employees have been moved from Crystal City to one million sf of new office space in the Washington Navy Yard. Additionally, it is estimated that Navsea-related subcontractors will move another 5,000 plus workers along the M Street Corridor SE to support the Navy's relocation"

http://www.globest.com/news/314_314/washington/135626-1.html

 

MONTGOMERY COUNTY NEWS

Affordable Housing Slated for Bethesda
Below-Market Units To Go Downtown

by Tim Craig
Washington Post Staff Writer
Saturday, June 25, 2005; Page B01

Montgomery County officials announced yesterday that they are ready to build moderately priced housing on a highly coveted parcel of land in the heart of downtown Bethesda.

The land, currently a county-owned parking lot, will include at least 65 below-market-rate townhouses and condominium units in an area where they routinely sell for upward of $500,000. The project is part of a larger commercial and residential development that could transform the already thriving Bethesda Row.

"Working families struggling to make ends meet will have the opportunity to find an affordable place to live here in downtown Bethesda," said County Executive Douglas M. Duncan (D), who is campaigning for the 2006 Democratic gubernatorial nomination. Last year, he promised to build an additional 1,000 affordable units over the next four years.

http://www.washingtonpost.com/wp-dyn/content/article/2005/06/24/AR2005062401487.html

 

O'Malley Trumpeting Montgomery Roots
Gubernatorial Bid Covets Duncan Turf

by John Wagner
Washington Post Staff Writer
Sunday, June 26, 2005; Page C06

As Martin O'Malley stepped up to address a gathering of Democratic activists last week in Silver Spring, he introduced himself as "probably the first native of Montgomery County elected mayor of Baltimore," adding to great laughter: "Baltimore doesn't know that yet."

O'Malley, whose parents live in Rockville, did not exactly trumpet his upbringing during his rise to power in Baltimore. In fact, a lengthy biography on his official mayoral Web site makes no mention of where he lived until enrolling in the University of Maryland School of Law in Baltimore.

Now that he is campaigning for governor, O'Malley has started vigorously re-embracing his roots in Montgomery, home to his primary Democratic rival, County Executive Douglas M. Duncan.

http://www.washingtonpost.com/wp-dyn/content/article/2005/06/25/AR2005062501155.html

 

Montgomery's Perez Eyes State's Top Attorney Job

by Tim Craig
Washington Post Staff Writer
Wednesday, June 29, 2005; Page B05

Montgomery County Council President Tom Perez has formed an exploratory committee to consider running for the Democratic nomination for attorney general if the incumbent doesn't seek reelection.

Perez, a first-generation Dominican American and former civil rights prosecutor, would be the first Latino to run for statewide office in Maryland.

"We need to work hard to make sure our leadership reflects the new Maryland," said Perez (Silver Spring), a self-described progressive who led the council's effort last year to allow county employees to obtain lower-cost prescription drugs from Canada.

http://www.washingtonpost.com/wp-dyn/content/article/2005/06/28/AR2005062801485.html

 

Planners seek audit after lies uncovered

by Margie Hyslop and Douglas Tallman
Gazette Staff Writers
July 1, 2005

Montgomery County planning officials are calling for a stem-to-stern examination of how the county oversees development following allegations that a staffer falsified documents to make it appear builders did not violate construction limits in the massive Clarksburg Town Center.

More than 500 homes have been built too tall or too close to streets, according to a report from Rose G. Krasnow, chief of the planning department's Development Review Division.

The report found that the county did not police height standards for the Town Center development and that a staffer altered a document to make it appear that the homes met those standards. The employee, who resigned, first said that the change was made in 1998 before construction began, but later admitted that she changed the document last year after neighbors raised questions, Krasnow said.

http://www.gazette.net/200526/weekend/a_section/283078-1.html

 

State and feds close to decision on final route for ICC

by Steven T. Dennis
Gazette Staff Writer
July 1, 2005

Lawmakers face environmental and political problems

State and federal officials are nearing a final decision on the route for the $2.4 billion Intercounty Connector highway which would link Gaithersburg and Laurel.

The outcome holds major implications for residents, politicians, the environment and, perhaps, whether the road will be built at all.

The routes under consideration include a long-planned southern route that has support from state and county lawmakers but faces strong objections from the federal Environmental Protection Agency because of its potential damage to streams, parkland and a self-reproducing population of brown trout. A northern route gets an "acceptable" grade from the EPA, but it plows through more homes and businesses, faces strong political opposition and could degrade the region's water supply.

http://www.gazette.net/200526/weekend/a_section/283075-1.html

 

REGIONAL NEWS

The Wait to Renovate
Lining Up Designers, Contractors and Permits Can Slow Projects for Eager Equity-Rich Homeowners

by Sandra Fleishman
Washington Post Staff Writer
Saturday, June 25, 2005; Page F01

The hot housing market has turned the Washington area into renovation central.

You've got your frustrated move-up buyers, who are busily hiring contractors to redo their homes because they can't find any other house they can afford. Then there are the many first-timers who are buying fixer-uppers just to get into the market. And, of course, there are Joe and Janet Homeowner, who haven't even thought about moving but can't pass up the opportunity to tap into their unbelievably elevated home equity for routine repairs or glamorous rehabs.

But the rush to redo has a downside. It has led to long lines for those trying to hire designers and contractors. And now there's a big pile-up at many local permit counters.

http://www.washingtonpost.com/wp-dyn/content/article/2005/06/24/AR2005062400664.html

 

Town Rich In History Grapples With Future

by Eugene L. Meyer
Special to The Washington Post
Saturday, June 25, 2005; Page G01

A country mile from the heart of Charles Town, W.Va., a community of 3,200 homes is rising on a former apple orchard. Through the magic of annexation, its 996 acres are inside the city limits of "historic Charles Town."

Huntfield, as it's called, is the largest of the new subdivisions to appear in the inexorable pincer movement of suburbia encircling Charles Town. When completed, it will quadruple the town's housing stock of 1,000 and cause its present population of 3,132 to soar.

Steeped in history, this West Virginia Panhandle city is groping its way into a future of growth that will dramatically transform the town where more than 70 members of George Washington's family are buried and where abolitionist John Brown was tried and hanged.

http://www.washingtonpost.com/wp-dyn/content/article/2005/06/24/AR2005062400621.html

 

On the Road to Cutting Settlement Time and Cost

by Kenneth R. Harney
Washington Post Staff Writer
Saturday, June 25, 2005; Page F01

Is there any hope for simplifying the paper-laden, costly and often confusing American system of closing a home mortgage? Can anybody help straighten out the mess?

Housing Secretary Alphonso Jackson thinks so and is expected to lay out a road map soon on how to do it. The new effort, which will begin with a series of national forums for consumer and industry groups in mid-July, is expected to culminate in a new set of proposals to streamline the entire loan application and closing process. Hearings focused on the concerns of small businesses in the mortgage settlement field are planned for Los Angeles, Chicago and Dallas-Fort Worth later this summer.

Jackson and his top aides at the Housing and Urban Development Department say they want to hear from everybody with a good idea. They also emphasize that they are not wedded to proposals first floated in 2002 that ultimately were withdrawn under congressional and industry lobby pressure.

http://www.washingtonpost.com/wp-dyn/content/article/2005/06/24/AR2005062400677.html

 

Dem backlash could sink early primary

by Thomas Dennison
Gazette Staff writer
July 1, 2005

ANNAPOLIS -- Efforts to move next year's September primary election to June appear doomed as a large and diverse faction of House Democrats expresses all-out opposition to the plan.

The Gazette conducted a random poll of nearly two dozen Democrats -- ranging from members of leadership to freshmen -- over the past week. It revealed rising resentment and opposition toward changing the primary date. House Democrats complained the move is overtly partisan and could lead to low voter turnout and logistical nightmares for election boards and state lawmakers' re-election campaigns.

"I can tell you that I'm adamantly opposed to it," said Del. James E. Malone Jr. (D-Dist. 12A) of Arbutus, a member of the leadership. "As far as I'm concerned, I'm going to do everything I can to keep the primary exactly where it is. I don't see what benefit it has other than to confuse people."

http://www.gazette.net/200526/weekend/a_section/283077-1.html

 

Cardin, Van Hollen top $1M

by Steven T. Dennis and Thomas Dennison
Gazette Staff Writers
July 1, 2005 Mfume lags in cash in Senate race

ANNAPOLIS -- The money hunt for next year's Democratic U.S. Senate primary heated up Thursday, with U.S. Reps. Benjamin L. Cardin and Christopher Van Hollen Jr. each announcing that they have more than $1 million in the bank, while former Rep. Kweisi Mfume lagged far behind with more than $200,000.

Final reports for the quarter ended Thursday and are not due to the Federal Elections Commission until July 15.

Cardin said he has raised $1 million since announcing his candidacy two months ago. Van Hollen, meanwhile, has raised $700,000 since U.S. Sen. Paul S. Sarbanes (D) announced his retirement in March and has more than $1 million cash on hand.

http://www.gazette.net/200526/weekend/a_section/283080-1.html

 

Gubernatorial rivals battle to see who's going the extra green mile

by Steven T. Dennis
Gazette Staff Writer
July 1, 2005

BALTIMORE -- Baltimore Mayor Martin O'Malley launched a fresh set of attacks on Gov. Robert L. Ehrlich Jr.'s environmental record Thursday while coming under renewed fire himself from Montgomery County Executive Douglas M. Duncan, as they compete to claim the green mantle heading into next year's Democratic gubernatorial primary.

At Tide Point, a redeveloped brownfield overlooking Baltimore Harbor, O'Malley (D) unveiled a motherhood-and-apple-pie "Environmental Bill of Rights" calling for clean air and water. He also took credit for a series of environmental initiatives, from a $900 million sewage upgrade to energy efficiency efforts to reviving Baltimore neighborhoods as an alternative to sprawl.

In a six-page speech containing broad brushstrokes but few specifics, O'Malley called for a renewed effort to clean the Chesapeake Bay and support for Smart Growth principles. He urged Marylanders to send him stories and suggestions to environment@martinomalley.com and promised to convene an environmental summit.

http://www.gazette.net/200526/weekend/a_section/283082-1.html

 

Dominoes begin to topple in Baltimore County

Gazette Staff Writers
July 1, 2005

The domino effect of Ben Cardin's decision to run for Senate is beginning to come into effect.

Paula Hollinger is preparing to announce her bid for Cardin's congressional seat, always a question of "when" more than "if." Speculation around Annapolis has her making it official July 13. Hollinger is in China and unavailable for comment.

Meanwhile, speculation about Hollinger's state Senate seat is focused on Del. Bobby Zirkin, who has publicly warred with Hollinger and was considered a potential Democratic primary challenger to her in 2006.

Zirkin told us this week that he is planning to announce his bid July 18, jumping into the Senate race with the endorsement of his District 11 House colleagues, Dan Morhaim and Jon Cardin. Zirkin said he has volunteers on the street already, passing out literature and campaigning.

http://www.gazette.net/200526/weekend/a_section/283074-1.html

 

Transit Plan for New Bridge Stuck in Official Gridlock

by Steven Ginsberg
Washington Post Staff Writer
Wednesday, June 29, 2005; Page B01

Maryland and Virginia have not figured out what to do with two of the 12 lanes planned for the new Woodrow Wilson Bridge now rising in the Potomac River.

The lanes must be used for carpools, trains or another form of transit under the deal that launched the project to replace the aging span, but state leaders said they have not talked about which to choose.

"When the bridge opens, those lanes at that time will represent excess capacity," Maryland Transportation Secretary Robert L. Flanagan said.

http://www.washingtonpost.com/wp-dyn/content/article/2005/06/28/AR2005062801513.html

 

Publisher to Move 1,300 Jobs From DC to Arlington

by Annie Gowen
Washington Post Staff Writer
Thursday, June 23, 2005; Page B01

BNA Inc., a publishing company, will move its headquarters and 1,300 employees from the District to Arlington County in 2007, Virginia Gov. Mark R. Warner announced yesterday.

BNA, which publishes print and electronic reports on government agencies and public policy, will relocate from the District's West End neighborhood to Crystal City in the spring of 2007.

Officials hope the new BNA headquarters on South Bell Street in Crystal City will contribute to a renaissance in the neighborhood, which is trying to freshen its dated image of steel-and-glass office park with a new streetscape and high-end restaurants.

http://www.washingtonpost.com/wp-dyn/content/article/2005/06/22/AR2005062202200.html

 

Worldgate Three Gets Under Way

by Barbra Murray
GlobeSt.com
Last updated: June 30, 2005 11:37am

HERNDON, VA-Ground has broken on Monument Three at Worldgate, which will be Monument Realty's fourth building project in the Worldgate Complex. The 191,000-sf class A facility--being constructed on behalf of Monument Realty by James G. Davis Construction Corp.-- will join its sister properties in the complex, Monument One, Two and Four, upon its scheduled completion toward the end of 2006.

Hickok Warner Cole designed seven-story brick and glass structure. "Now is the time to move forward," says Monument Realty co-founder and principal Michael J. Darby. "We are seeing increased interest in the Herndon office market, and the rates are right for proceeding."

http://www.globest.com/news/317_317/washington/135789-1.html

 

AvalonBay Makes $60M on Dispositions

by Barbra Murray
GlobeSt.com
Last updated: June 29, 2005 09:20am

(To read more on the multifamily market, click here.)

ALEXANDRIA, VA-With the recent sell of a multifamily building and two parcels of land, local apartment developer and owner AvalonBay Communities has been able to put $59.7 million in its bank account. AvalonBay will make use of the proceeds from the dispositions by paying down an existing unsecured credit facility, which is, according to its first quarter 2005 operating results released in April, $500 million. The outstanding debt on the facility was $136 million as of March 31.

Among the holdings AvalonBay just parted with is the 135-unit Avalon Lake in Danbury, CT at 48 Briar Ridge Rd. The company developed the property for $17 million in 1999 and sold it for $37.7 million. The two parcels, located in Seattle and the Oakland-East Bay area, commanded an aggregate $23 million.

http://www.globest.com/news/316_316/washington/135723-1.html

 

$54M Loan Closing Will Lead to Condo Conversion

by Barbra Murray
GlobeSt.com
Last updated: June 28, 2005 07:59am

ARLINGTON, VA-A $54-million loan will allow Athena Amazing Arlington LLC, a division of the Athena Group LLC, to acquire and redevelop the Metropolitan at Arlington. The funds will allow the borrower to pay for part of the purchase of the 190-unit luxury property from current owner KSI Services Inc., as well as finance the conversion of the apartments to condominiums.

The specific cost of the acquisition has not been released; Arlington County's Department of Real Estate Assessments shows the property's current assessed value to be approximately $30 million. Corus Bank supplied the funds.

Consisting of nearly 265,000 sf, including a garage to accommodate 350 vehicles, Metropolitan was developed by KSI in 2003. The complex carries the address of 2311 South 25th St., and sits along Interstate 395 on a parcel that had been home to the Pentagon City Hospital. But after its short life of offering units for rent, the property is about to make the move to the increasingly hot condo market and offer the units for sale.

http://www.globest.com/news/315_315/washington/135674-1.html

 

Construction of Innovation's First Spec Flex/Office Begins

by Barbra Murray
GlobeSt.com
Last updated: June 24, 2005 09:48am

PRINCE WILLIAM COUNTY, VA-Construction has kicked off for the 125,000-sf Innovation Business Center. The 11-acre parcel within the 1,600-acre Innovation@Prince William tech park will have a three-building flex/office property. Developer Buchanan Partners tapped Hubert Construction to serve as general contractor. Construction is scheduled to wrap up sometime during the first quarter of next year.

Upon completion, the $16.3 million Innovation Business Center will offer the first speculative flex/office space within the sprawling business park off I-66 and will be marketed through Norman Realty Inc. Labeled as Building A, B and C, the center will carry the address of 9371 Innovation Dr., and will encompass 32,900 sf, 46,300 sf and 46,300 sf, respectively.

http://www.globest.com/news/313_313/washington/135597-1.html

 

500-Room Hilton Sells for $93M

by Barbra Murray
GlobeSt.com
Last updated: June 24, 2005 12:20pm

ALEXANDRIA, VA-Change is afoot at the Hilton Alexandria Mark Center now that a joint venture involving Amstar Group LLC and Davidson Hotel Co. has claimed the hotel as its own. The partnership traded $93.1 million for the 500-room hotel, and will shell out an additional $9.5 million in upgrades. The all-cash purchase marks the third joint transaction for Denver's Amstar and Memphis-headquartered Davidson. "We are interested in commercial real estate investments across the country with a particular focus on key markets in which the fundamentals are strong, and the Metropolitan Washington, DC is one of these markets," Amstar executive director Doug Wiley tells GlobeSt.com.

Hilton Alexandria Mark Center, not to be confused with the city's 241-room Hilton Alexandria Old Town--which sold to LaSalle Hotel Properties last year for $59 million--will continue to operate under the Hilton flag with Davidson serving as property manager. Amstar CIO Gabe L. Finke says “this opportunity exemplifies our investment philosophy."

http://www.globest.com/news/313_313/washington/135572-1.html

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