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Sunday, September 09, 2018

Taylor Barden Golden's Bloomingdale Bites column Sept 2018: "Denizen's future secured?"

Thanks to Taylor Barden Golden for producing the Bloomingdale Bites column which appears in the MidCityNews newspaper.

Here is the link to the post below.


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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