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Denizen’s Future
Secured?
An item in the public record of commercial real estate
transactions sparked conversation in the Bloomingdale community last month
about the proposed Denizen project at 1634 North Capitol St. NW. The Capitol
Food Mart, the small green storefront located next to the new Spark, has been
sold for $1.2 million to a group of investors.
Neighborhood
development watchers quickly realized that this property is smack in the middle
of the proposed Denizen project, a mixed-use development that would encompass
most of the rest of the block. The project was scheduled to break ground in
2018, but no ground has been broken and no new timeline has been presented. So,
the noted transaction sparked curiosity, yet a simple explanation was soon
found that sparked even more curiosity about the start date of the project.
Per the
transaction record, the sellers were Patricia Economides/James J.
Cokinos/Daniel J. Cokinos, and the buyer was Fusion Limited 2 LLC, whose
mailing address is the same as the home of developer Frank Economides. In the
end, this looks like a transfer from personal ownership to LLC ownership.
Neither Frank nor Patricia Economides could be reached for comment.
Maedwell
Companies stated it was withholding public comment until speaking with the
advisory neighborhood commission (ANC). Local ANC Commissioner Katherine
McClelland did not reply to requests for comment.
The Denizen is
planned to be a luxury mixed-use development in the heart of North Cap Main
Street. It will include 14 apartment units in two, four-story buildings ranging
from studios to rarely seen four-bedroom units. The luxury apartments will
include panoramic views of the city and a posh rooftop terrace. There will be
approximately 10,000 square feet of retail space, storage and off-street
parking for the apartments. No word yet on when construction will begin.
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