Big Trades: Wisconsin Avenue Akridge Site to Pepco, H Street Murrys to Housing Developer
Today brings potentially bad news for Wisconsin Avenue and good news for H Street.
Bad news first: Michael Neibauer reports that 5220 Wisconsin Avenue, which developer Akridge had planned to turn into a mixed-use project, has sold to Pepco, which may use the site to expand its adjacent substation. Though Pepco might also incorporate some housing into the redevelopment, it's unlikely that the new plans will be as good as the old ones.
But then the (likely) good news! We heard in September that the Murrys at 610 H Street NE was under contract, and the sale just popped up in property records: An outfit called the Insight Property Group purchased the property earlier this month for ten million dollars. It's a huge site, going all the way through to I Street, and from the rest of their portfolio, it looks like mixed-use multifamily housing is in the cards.
Add that on to Jair Lynch's purchase across the street, and the 600 block of H Street will look really, really different within a few years.