Brookland Square Goes Begging
While project after stalled project has been bought up and built out over the last year in D.C., there are still plenty of vacant lots to go around. Case in point: 1300 Rhode Island Avenue NE, which was last planned for a $75 million mixed-use building called "Brookland Square" back in 2007. It still has a cheerful sign on the corner, even though prospective developer Republic Land dropped out years ago ("The fact of the matter was that the market for financing wasn't there," CEO David Peter tells me).
Things might be looking up for that rock-strewn corner, though. The parcel is listed with MAC Realty Advisors, which hopes to see a closing by the end of the year. With Rhode Island Station well under way a few blocks west, and a prepackaged, pre-approved, eminently marketable Eric Colbert design for a 263-unit apartment building included, it's an add-money-and-stir kind of situation.