Another indication of “weak market demand” in Hill East: Bisnow Real Estate recently reported that the Goldstar Group, a private equity firm based in Bethesda, has purchased the Domino’s lot at 1500 Pennsylvania Ave SE and plans to build a 40-unit residential building on the site.
I had a chance to follow-up with Goldstar and learned some additional details about their plans:
- While the building will be mostly residential, Goldstar has not ruled out retail on the first floor of the building. The retail would be small given the lot size.
- As of now, they plan to build the building “matter of right,” and do not anticipate needing any zoning relief or variances. Goldstar believes they can fit the required 20 parking spaces on the site.
- Goldstar will spend the next four months designing the building. In terms of height, they plan to start at the height allowed under the site’s current zoning (C-2-A, 50 ft.). Height could be adjusted based on design.
- The adjacent laundromat building just north of the site (732 15th Street SE) is not a part of the project. A separate owner, Gary Cohen, still plans to build a small condo building on the laundromat site.
- Regardless of whether they seek zoning relief or not, Goldstar is very interested in coming out to the neighborhood to share their plans with the neighborhood, probably sometime this fall. If everything goes smoothly with permitting, etc. , they hope to begin construction in early 2014.
You can read more about the Goldstar Group at www.thegoldstargroup.com.
Is there anything we can do to encourage them to put retail on the ground floor?
Hi Liz. I’d encourage you (and others) to contact Goldstar and let them know you would like to see retail at the site. I certainly let them know that I’d like to see retail there.
Speaking of development on that street, do you know what happened to the 15th & D Street SE plan? Your last post indicated that they were supposed to start in March. Do you know of any change of plan?
Thanks for the question Carlos. As far as I know, the owners still plan to build at 12-unit condo building at 15th & D Streets SE. I’m checking in with them for an update.
ok, thanks a lot for the reply.
Great news. Agree that ground floor retail would be ideal, but either way better than current use. But it might be tough to get retail in such a weak market…
considering the ground floor retail at Jenkins Row includes Subway and Gamestop people should be careful what they wish for
Those occupants aren’t permanent, and as the economy changes, it’s possible for that retail to change for the better.
And what, exactly, is the problem with Subway and Gamestop?
no problem with subway but the gamestop has been buying stolen cell phones
Sure – we should expect lawful conduct at all businesses.
I still don’t see how those of us that would like to see more retail spaces ‘should be careful what they wish for.’
While we are on the topic of retail, does anyone know if is there any update on the storefront at the corner of Potomac and Penn, where there was originally going to be that Annie and Teddy’s place?