JBG Expanding U Street Empire [UPDATE: EVEN MORE!]
UPDATE, noon: Not only has JBG purchased the Atlantic Plumbing site on Florida Avenue, it also picked up the other Atlantic Plumbing site at 2112 8th Street, just east of the 9:30 Club, for $11,544,000. JBG is working with the private equity firm Walton Street on both parcels, and plans to break ground within 12-15 months on a residential project that will include some ground floor retail.
Yow! Will the 9:30 Club be the same with a big glitzy condo/apartment right next to it?
A Prince of Petworth tipster noticed yesterday that the JBG Companies had purchased the might-as-well-be vacant lot next to the Floridian at 945 Florida Avenue NW for almost $9 million back in December. The name of the LLC, "Atlantic Residential," suggests housing is in the works, which would makes sense–and be a huge boon to a neighborhood that can sometimes feel rather dark and empty.
But that's just the latest of JBG's designs on the immediate area. In January, it put in the highest bid on a set of fenced-off WMATA parcels between 7th and 9th Street south of Florida. In that article, the Post also reported that JBG had gained control of "most of the south side of the 1400 block of U Street" (a quick scan of property records doesn't show conclusively that this is the case, but fancier real estate tools might have revealed otherwise; I've got an email in to JBG to clarify). And then, of course, there's the on-again-off-again plan for a four-star hotel at 13th and U.
More info as I get it...