Monday, October 27, 2014

New Residential Tower for Columbia Road?

It's looking more and more like a new residential project will rise above the 1700 block of Columbia Road NW in Adams Morgan. With the recent and abrupt closures of T-Mobile (1775 Columbia Rd NW) and Radio Shack (1767), only Burger King and Pho 14 remain of the six adjacent properties. Old City Cafe and Payless Shoesource were the other two properties, since closed.

Back in June, Washington Business Journal noted that four of the properties had been sold to a Michigan Developer, hoping to consolidate and build residential units above the first floor retail spaces. Indeed, the District government lists "1777 Bond St Equities LLC" as the owners of the 1777, 1775, 1773, and 1767 Columbia Rd addresses. (Bond St Equities lists the same home address as Beztak Properties, the Michigan property developer.) The owners of 1771 (Burger King) and 1769 (Pho 14) are listed as "Laskin Properties LLC."

When I checked with Pho 14, they were only saying so much, but it appears that Burger King will soon vacate the storefront at 1771 Columbia Rd NW, leaving Pho 14 as the only operating tenant. No word of the final fate of Pho 14, but I assume they signed a long term lease with no intentions to move anytime soon.

Surely the owners of these properties are trading on the eventual build out of The Line Hotel across the road at 1770 Euclid St NW.

Streetsense property brokers are already listing ground floor retail for the space formerly occupied by Payless. And the full brochure counts The Line Hotel as a major asset to this location. The hotel is not yet built.

An older property listing (below) contains a rendering that depicts a 65 unit residential building rising above the retail spaces. The current listing does not include this aspect.

Keep an eye on this block. It looks like big changes are coming to Adams Morgan.