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It's more than 100 pages of high finance and headache-inducing legalese, but nonetheless I've gotten my hands on the "Preliminary Official Statement" for what is expected to be a $29 million PILOT bond sale to fund a series of infrastructure improvements for future phases of the Capper/Carrollsburg redevelopment. (This is the document written for investors to help them decide whether or not to purchase the bonds.) If you want to know all about how these bonds are being structured (with monies from the Downtown TIF playing a part), this is the document for you. It also has some good background on the Capper project if you're just catching up.
But it also has a few tidbits on the current and projected path of some upcoming parts of the overall project, starting on page 19. Here are the items that are probably of most interest, with the usual caveats that no timeline is written in stone anymore:
* Financing for the second phase of Capitol Quarter is being negotiated and is expected to close in mid-2010. Development work would then begin in August, and vertical construction in November. (Phase 2 covers the blocks between Third and Fourth and I and M, and will contain 116 new for-sale townhouses and 47 public housing rental units.)
* All but five of the 121 CQ phase 1 townhouses have sold, and two of those are being held back as model units.
* Financing is "being negotiated" for the planned apartment building on the northern half of Square 882, the site that's been the subject of my recent posts on the Marines coveting the site as well. That financing is expected to close in late 2010 according to this document, with an expected completion date of the apartment building in April 2012.
This $29M bond sale is not the last one for Capper infrastructure; the city council approved a total of $55 million in bond funding back in 2006, and the document says that the city "expects" another bond issuance for the rest of the money, "though the timing of such issuance is currently uncertain" (page 10).
As for what exactly the monies will be funding, the document lays out the following (page 22), though this is for the entire $55 million, so it can't be said that this current $29 million offering will cover all this (which will bum out the people who see the phase "community center"). Some of this work would also happen on the streets surrounding Canal Park:
* Repairing and replacing underground water and utility lines;
* Repairing streets and streetscapes and adding landscaping;
* Demolishing the DPW building (and smoke stack!) at 900 New Jersey, relocating DPW's operations, environmental site remediations (remember, that site was operating as a trash transfer site as far back as 1905);
* Building I Street through to New Jersey Avenue; and
* Constructing the new community center at Fifth and K.
It's expected that the bonds will be "priced" this week, with the sale closing by the end of the month.
I hear rumors that DPW could be out of their site by next spring, as the search continues for a new home for their operations (and maybe is getting close to a resolution).
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incognito says: (3/22/10 3:45 PM)
It is subtle and wonky, but the canalparkdc.org website now has on their homepage the three dimensional model of the park as released by Studios architecture in their drawings. Uncertain how long ago this change was made but I do think it looks great. Now we just have to continue pushing for construction to begin asap and no later than the advertised September 2010.


bt says: (3/22/10 3:54 PM)
47 public housing rental units???? WHY? Aren't there enough? Are we encouraging people to be losers? I want to do nothing and live in a brand new housing community!! where do i sign up? what are the qualifications?


JD says: (3/22/10 3:58 PM)
The public housing component is the only reason why Capitol Quarter is being built in the first place. The entire redevelopment got a Hope VI grant from HUD to replace 700 units of public housing in a new development with the same 700 units plus another 800 market-rate units. 300 of the units were already built in Capper Seniors #1 and 400 M. The rest will be in the Capitol Quarter townhouses and in the 5 mixed-income apartment buildings.



Michael says: (3/22/10 4:25 PM)
Canal Park... little surprise that the Web site's link to the building schedule it broken )


Kenny says: (3/23/10 11:18 AM)
Isn't I Street already built to New Jersey Avenue? Or is my memory already failing me...


JD says: (3/23/10 11:19 AM)
Not from the east. I stops at Second/Canal, then starts again at New Jersey.

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1011 1ST ST SE   
02/12/15 
COLIN CLARK / MICHAEL BIANCO; COLIN CLARK; MITCH PERMUY
E98099105 / SUPPLEMENTAL
1265 1ST ST SE   
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CAPITAL RIVERFRONT HOTEL LLC / JOHN HOMICK
E1502866 / SUPPLEMENTAL
1000 5TH ST SE   
02/24/15 
DISTRICT OF COLUMBIA HOUSING AUTHORITY / KIM MITCHELL CDKM CONSULTING LLC
B1412422 / CONSTRUCTION
NEW BUILDING PERMIT FOR NEW COMMUNITY CENTER INCLUDING STEEL STRUCTURE BRICK AND MASONRY BACKUP
1240 12TH ST SE   
02/19/15 
WASHINGTON GAS LIGHT CO / CARLTON W ROBINSON
E1503465 / SUPPLEMENTAL
909 HALF ST SE   
02/25/15 
23 I LLC C/O RELATED COMPANIES / DAVID MILLER
SB1500157 / CONSTRUCTION
INSTALLATION AND MONITORING OF 8 INCLINOMETER MONITORING SYSTEMS. THREE INCLINOMETER CASINGS TO BE INSTALLED ALONG THE K STREET BORDER OF THE PROJECT. THREE CASINGS TO BE INSTALLED ALONG THE I STREET BORDER OF THE PROJECT. TWO CASINGS TO BE INSTALLED ALONG THE HALF STREET BORDER OF THE PROJECT.
   
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23 I LLC C/O RELATED COMPANIES / 23 I LLC C/O RELATED COMPANIES; ANDREW DANCE
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A HOLLOW STEM AUGER WILL INSTALL UP TO 30 TEMPORARY DEWATERING WELLS BY ADVANCING A 12 OD / 8 1 / 4 ID BOREHOLE TO A DEPTH OF 65 FEET. AT DEPTH A 4 INCH PVC FLUSH JOINT THREADED WELL ASSEMBLY WILL BE SET AND SELECT FILTER PLACED. INTO EACH WELL WILL BE INSTALLED A 1 HP TURBINE SUBMERSIBLE PUMP. EFFLUENT WILL BE DIRECTED THROUGH A COMMON MANIFOLD TO A BAFFLED SETTLING TANK AND DISCHARGED TO THE LO...
1015 HALF ST SE   
02/09/15 
HALF ST SE LLC /
P1503333 / SUPPLEMENTAL
   
02/12/15 
THOMAS AN / THOMAS AN; HYH ELECTRIC CO. INC.
SG1500156 / CONSTRUCTION
INSTALL ONE SINGLE FACE BUILDING SIGN AND ONE DOUBLE FACE BLADE SIGN
   
02/10/15 
EVAN OBRIEN / JOSEPH ABRESCH; EVAN OBRIEN; ROBERT HUNSBERGER
E74054014 / SUPPLEMENTAL
   
02/18/15 
HALF ST SE LLC / STEPHEN R. HOLMAN
P1503532 / SUPPLEMENTAL
82 I ST SE   
02/09/15 
GREYSTAR RCP DEVELOPMENT / KIM MITCHELL CDKM CONSULTING LLC
SH1400084 / CONSTRUCTION
SHEETING & SHORING WORK FOR NEW 13-STORY RESIDENTIAL PROJECT AT EYE STREET AND NEW JERSEY AVE SE
50 M ST SE   
02/18/15 
ENGLEWOOD LLC / FVI2020
FD1500010 / CONSTRUCTION
FOUNDATION OF GRADE RELATED TO CONSTRUCTION OF A NEW HOTEL
55 M ST SE   
02/24/15 
HINES GLOBAL REIT 55 M STREET LLC / ANDREW P CARAYIANNIS
M1501184 / SUPPLEMENTAL
100 M ST SE   
02/11/15 
SQUARE 743 INC. / JOHN GIUSEPPE-RAMCO
TL1500062 / CONSTRUCTION
FIRST TIME TENANT TO BUILDOUT AND OCCUPY TENANT SPACE ON PART OF THE 7TH FLOOR THE TRUST FOR PUBLIC LAND AS SHOWN ON THE ATTACHED THIRD PARTY REVIEWED AND APPROVED MECH. .PLUMB. ELECT. FIRE PROTECTION AND ARCHITECTURAL PLANS BY KTA. INTERIOR WORK ONLY. NO CHANGE IN USE. NO STRUCTURAL WORK INVOLVED.
   
02/13/15 
SQUARE 743 INC / RONNIE E WRIGHT
E1503331 / SUPPLEMENTAL
   
02/13/15 
SQUARE 743 INC / DAVID FLEMING
P1503495 / SUPPLEMENTAL
   
02/19/15 
SQUARE 743 INC / DAVID FLEMING
P1503597 / SUPPLEMENTAL
   
02/20/15 
SQUARE 743 INC / GREGORY E LIGON
E1503498 / SUPPLEMENTAL
   
02/23/15 
SQUARE 743 INC / ANTHONY G SAMBURG
E1503518 / SUPPLEMENTAL
901 M ST SE   
02/19/15 
US GOVERNMENT NAVY PWC / SUMMIT CONSTRUCTION AND ES
B1504570 / CONSTRUCTION
REQUEST AND E&S PERMIT FOR WORK ON FEDERAL INSTALLATION. INSTALLING FOOTINGS AND SLAB WITH PORTCH SUPPORTS. MINOR GRADING AND SEEDING. BUILDING FOOTPRINT IS UNDER 700SF. LAND DISTURBANCE INCLUDING GRADING AND SEEDING IS UNDER 2 500SF.
100 M ST SE   
02/19/15 
SQUARE 743 INC / JOHN H THOMSON
E1503464 / SUPPLEMENTAL
   
02/20/15 
SQUARE 743 INC / DAVID RAINE; SQUARE 743 INC; DAVID RAINE
P38575591 / SUPPLEMENTAL
300 M ST SE   
02/11/15 
FEDERAL CENTER LP / SAM HOLLEN RAMCO OF DC INC.
B1504255 / CONSTRUCTION
INTERIOR RENOVATION TO 2ND FLOOR CONFERENCE ROOM. PARTITIONS FINISHES MECHANICAL ELECTRICAL AND LIFE SAFETY. ICI SERVICES
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CSC / DAMON ELLIS
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NEW JERSEY AT H LLC / JOHN H THOMSON
E1503556 / SUPPLEMENTAL
   
02/13/15 
BAKER DC / CHRISTINE LONG
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AN AFTER HOURS PERMIT IS RESPECTFULLY REQUESTED FROM 7:00PM THRU 7:00AM
909 NEW JERSEY AVE SE   
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909 NEW JERSEY AVENUE ACQUISITION LLC / DAVID L. HAHN
P1503815 / SUPPLEMENTAL
1000 NEW JERSEY AVE SE   
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CAPITOL HILL TOWER HOUSING COOPERATIVE INCF / SHAWN ALEX HELLER
HO1500118 / HOME OCCUPATION
HOME OFFICE (LAW OFFICE).
300 TINGEY ST SE   
02/13/15 
RICHARD CERVERA / NATHANIEL GILL
B1504014 / CONSTRUCTION
NEW SUMMER GARDEN
AH = After Hours; B = Alteration & Repair; D = Demolition; E = Electrical; FB = Boiler; M = Mechanical; P = Plumbing and Gas; PC = Post Card; R = Raze; SG = Sign; TL = Tenant Layout; TN = Tent; RW = Retaining Wall;

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