What we knew would happen has happened…and it makes UrbanLand Company even more excited to open up our new NE realtor office & developer sales center at 1020 Bladensburg Road, NE in Trinidad. H Street Main Street (HSMS), a major local non-profit, has created a development plan for major mixed use projects on target sites from the H Street starburst all the way up Bladensburg Road to the Arboretum. The zone is being called the “Garden District” due to The Arboretum proximity.
“There’s no area of DC more ripe for development than this strip of Bladensburg Road, NE,” said Gerard DiRuggiero, Principal Broker of UrbanLand Company. “Projects are already underway on a few sites on the strip, with a variety of target sites available for pursuit by developers. These are often family owned parcels with long-time owners – I’ve made a lot of local connections while building our new office. These are individuals who ARE willing to hand over their parcels to the right developers. It just takes a catalyst on the deal-making side of things to put site acquisitions in motion.”
HSMS notes that $400 – $700 million. in potential development is going to occur, and a lot of it will be on sites suitable for 100+ unit projects with street level retail components. “There’s no need for a crystal ball to see this coming,” continued Gerard. “When we bought our building 2 years ago, the strip was already getting 75,000 cars a day in drive-by traffic. Most of the parcels on Bladensburg have been under-utilized to date. On the flip side, individual owners selling in Trinidad have been seeing very healthy purchase prices for rowhomes & rehab opportunities. One & two bedroom infill new condos often show up in the MRIS.”
There’s already activity right across the street. “We sold the building on the left years ago – it was a site that ended up turning into The Renee you see pictured. The activity next door to that building is for a 4 story apartment building coming soon.
Here’s a rough map of the Garden District showing some of the target sites. “These are major sites with mixed use zoning that can support 100+ units and major amounts of retail square footage,” commented DiRuggiero. “I’m happy to share guidance on what is happening in on the strip.” The green dots are target sites and the purple dot is our new UrbanLand Company office.
Our new NE real estate office & developer sales center!
“Besides being a developer sales center for the corridor, this is also farming office for us. We’ve started a heavy duty farming campaign to break loose some of the 4 unit buildings on the streets behind our office. There are over 350 properties, many of which have long-time owners who bought super low.”
Call 202.299.9223 or email Info@UrbanLandCompany.com for development & investor assistance.