H Street NE Church Sold; Could Become Restaurant, Bank, or Condos
In yet another sign of changing times on the H Street NE corridor, a church there has been sold and could soon be converted to a restaurant, a bank, or condominiums.
A Northern Virginia investment partnership, going by the name of Carderock Investments, closed the purchase last week of the St. John's Church of God at 1301 H St. NE for $2.2 million. The team is hoping to preserve the church's facade in a new use.
"We’re considering a reuse of the church building to a commercial use that might be a restaurant," says Fred Roseman, one of the two partners. Another option: "What I thought would be a very good use for that property would be a bank, because east of 8th and H there aren't really any banks," he says.
Christopher Dixon of Metro Investment Properties, who represented the church in the sale, says the buyers are also considering tearing down the church to build condos. But Roseman says he's not planning for condos "in the short to medium term," preferring to use the existing building.
Carderock also recently purchased 916-918 H St. NE, formerly home to Men's Fashion Center. The company has completed interior demolition of the space but does not yet have a tenant. Roseman thinks a restaurant would be a good fit.
According to Dixon, the church is moving to Prince George's County. Dixon says there was heavy competition to buy the church building, with nine contracts submitted.
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