Thursday, April 07, 2016

WBJ: "On high-profile vacant Bloomingdale lot, owner shifts development strategy"

Click on the link to see the entire Washington Business Journal post by Michael Neibauer:

But first -- some warm-up tweets:

Michael Neibauer@WBJNeibs                         

At North Capitol, Florida and Q, "exploring" a change in direction for the Mamo lot...

Michael Neibauer@WBJNeibs                         
PUD has expired for Joe Mamo's lot, so a change of direction is in store...

On high-profile vacant Bloomingdale lot, owner shifts development strategy
Apr 7, 2016, 2:40pm EDT

Sitting at the crossroads of multiple D.C. neighborhoods, fronting two well-traveled streets, the intersection of North Capitol Street and Florida Avenue NW would appear to be a sure-fire winner for any developer.
An affiliate of gas station magnate Eyob “Joe” Mamo acquired the Bloomingdale lot at 1600 North Capitol St. NW in 2003 for $825,000, and four years later, earned approval for a planned-unit development featuring a six-story building with up to 85 residential units and 5,000 square feet of retail. The 18,984-square-foot lot has sat empty since, with Mamo repeatedly seeking extensions from the Zoning Commission to keep the project alive (the last was 2013). While the project’s parameters had been tweaked over time, the vision, as far as we knew, remained residential over retail.

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