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November 15, 2014
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A press release sent out on Tuesday is trumpeting the sales of two of the buildings in the "Capitol Yards" lineup, 909 New Jersey and the Axiom at 100 I Street, the completion of a pending deal that I first wrote about in January. However, back then, residents in Axiom's sibling, the Jefferson at 70 I, were also notified that their building was under contract, but that deal apparently didn't complete with the other two. The 448-unit Jefferson was the priciest of the three offers, at about $165 million, compared to about $94 million for the 245-unit Axiom and $95 million for the 237-unit 909.
Did the Jefferson's residents go out back with metal detectors and find the $165 million needed to purchase the property themselves? Or are there a few more i's to dot and t's to cross to finish the deal? Or is something else afoot?
In the 100 I and 909 New Jersey sales, the buyers are "institutional investors advised by J.P. Morgan Asset Management."
The three buildings were completed by JPI back in 2008 and 2009, but the recession hit the company hard and eventually two of its executives boltered to partner with folks from Akridge to form the Jefferson Apartment Group. But 70/100/909 apparently remained part of JPI's holdings, as did the empty lot at 23 I Street where JPI's fourth apartment building had been planned, until it was foreclosed upon and picked up by Ruben Companies in late 2009. The three buildings, completed in 2008 and 2009, have been managed by Greystar ever since JPI sold its property management division to the company.
UPDATE: I'm hearing chatter that residents of 70 I did form a tenant association to attempt to buy the building themselves, which then adds some additional time to the deal to allow the residents to find financing to match the initial offer. Anyone from the building want to chime in?
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Alan says: (5/2/12 11:41 AM)
A tenant association was formed at 70 I St with the help/prodding/urging of a law firm (Venable, I believe) and there were near-weekly meetings urging residents to join the association and then...nothing. There was a notice posted about electing officers but that meeting was held at the law firm and it's been silence ever since.

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Recent Crime Incidents Archive  
200 B/O I ST SE   THEFT F/AUTO
 12/18/14
700 B/O L ST SE   THEFT
2nd Degree
 12/17/14
1200 B/O 1ST ST SE   THEFT
Theft F/Building
 12/08/14
1200 B/O 1ST ST SE   THEFT
 11/21/14
900 B/O 5TH ST SE   BURGLARY
 11/21/14
200 B/O I ST SE   THEFT
 11/21/14
1200 B/O NEW JERSEY AVE SE   THEFT
 11/20/14

Active Public Space Permits Archive  
1331 2ND ST SE    Carlton Ray 
Assigned
paving; streetfixture; excavation  
 02/10/14
to
02/09/15
1331 4TH ST SE    Forest City Forest City 
Issued
excavation; new  
 01/10/14
to
02/10/15

Recent Issued Building Permits Archive  
1025 1ST ST SE   
12/03/14 
NA NA NA
EHOP1590134 / HOME OCCUPATION
   
12/10/14 
KAREN NZAKIMUENA
PC74349112 / POST CARD
INSTALLATION OF NOT MORE THAN 1 NEW AIR CONDITIONING UNIT UP TO A MAXIMUM OF 10-TONS OF EQUIVALENT REFRIGERATING EFFECT.
1016 3RD ST SE   
12/15/14 
ANAMARIA R MOTTOLA / DIXON
B1502438 / CONSTRUCTION
RENOVATIONS MINOR MEP
1212 4TH ST SE   
12/10/14 
FC 1212 LLC / SCHINDLER ELEVATOR CORP
ER1500593 / SHOP DRAWING
REPLACE MAXTON UC2A VALVE EST. COST OF WORK $ 2 2120. 00
927 5TH ST SE   
12/15/14 
AARON LORENZO
PC25919394 / POST CARD
REPLACEMENT IN KIND OF EXISTING FENCE ON PRIVATE PROPERTY. REPLACEMENT IN KIND WHEN APPLIED TO ARCHITECTURAL FEATURES MEANS REPLACEMENT WITH A FEATURE OF LIKE MATERIAL THAT REPLICATES THE EXISTING FEATURE IN PROPORTION APPEARANCE TEXTURE DESIGN DETAIL AND DIMENSIONS.
1000 5TH ST SE   
12/04/14 
UNITED STATES OF AMERICA / WALTER T JONES
E1501598 / SUPPLEMENTAL
1015 HALF ST SE   
12/10/14 
HALF STREET LLC / ART DISPLAY; BOB BIROONAK ART DISPLAY CO.
SG1400465 / CONSTRUCTION
ONE ILLUMINATED NEWS TICKER SIGN
1201 HALF ST SE   
12/10/14 
WEST HALF 1 LLC / MARK W GIBSON
E1501746 / SUPPLEMENTAL
   
12/12/14 
JASON YORK
TN1500036 / CONSTRUCTION
INSTALLING SMALL TENT ON DEC 29 2014 FOR THE BRIDGESTONE WINTER CLASSIC ON 1-1-15 WITH GENERATOR TENTS REMOVED ON 1-2-15
808 L ST SE   
12/10/14 
NAVY YARD ASSOCIATES LLC / KE-MAURELLE PREDDIE
B1412006 / CONSTRUCTION
NEW OFFICE USE FOR 1254 SQ. FT. EXISTING TWO STORIES PLUS BASEMENT STRUCTURE ON SE / C-3-A ZONING DISTRICT. MECHANICAL ELECTRICAL AND PLUMBING REMAIN AS IS.
80 M ST SE   
12/10/14 
WELLS REIT II 80 M STREET LLC / ANTHONY G SAMBURG
E1501724 / SUPPLEMENTAL
14 M ST SE   
12/16/14 
ROMAN CATHOLIC ARCHBISHOP OF WASHINGTON / PHILLIP B. MOBLEY
FB1500047 / SUPPLEMENTAL
20 M ST SE   
12/04/14 
TRANSWESTERN JEFFREY GROSS / OLLIE READ; TRANSWESTERN JEFFREY GROSS; CHRISTOPHER SCHULZE
AR66514546 / SUPPLEMENTAL
   
12/04/14 
TRANSWESTERN JEFFERY W GROSS / ANDREW ARNTSON; TRANSWESTERN JEFFERY W GROSS; ANDREW ARNTSON
P96600069 / SUPPLEMENTAL
80 M ST SE   
12/03/14 
MARY JACKSON
PC44081129 / POST CARD
REPLACEMENT OF NOT MORE THAN 1 GAS APPLIANCE ON A RESIDENTIAL COMMERCIAL OR INDUSTRIAL PROJECT.
   
12/05/14 
WELLS REIT II 80 M STREET LLC /
P1501746 / SUPPLEMENTAL
100 M ST SE   
12/03/14 
SQUARE 743 INC. / SAM HOLLEN RAMCO OF DC INC.
B1502037 / CONSTRUCTION
INTERIOR RENOVATION TO 4TH FLOOR OFFICE SPACE. SUBDIVIDE TENANT SPACE AND ADD PANTRY. PARTITIONS MEP AND LIFE SAFETY. NORTHWOOD INVESTORS LLC
202 M ST SE   
12/10/14 
DISTRICT OF COLUMBIA / WOODY WICKLIFFE
TN1500035 / CONSTRUCTION
INSTALL 50FT X 100FT TENT NO GENERATORS NO COOKING NO SMOKING NO STAGES 10FT X 70FT TENT INSTALLED DEC 11-15 2014 EVENTS DEC 12-14 2014 12:01PM - 9:00 PM
1201 M ST SE   
12/11/14 
CARLTON RAY
AH1500149 / CONSTRUCTION
TO PERFORM TEMPORARY LANE CLOSURES
75 N ST SE   
12/11/14 
CRANE SERVICE CO / CHRISTINE LONG
AH1500150 / CONSTRUCTION
AN AFTER HOURS PERMIT IS RESPECTFULLY REQUESTED FROM 2:00AM THRU 11:00PM
800 NEW JERSEY AVE SE   
12/08/14 
SQUARE 737 LLC / GLENNWOOD ROGERS
P1501673 / SUPPLEMENTAL
25 POTOMAC AVE SE   
12/02/14 
RIVERFRONT HOLDINGS I LLC C/O ECC INC. / ECC INC.
UT1500007 / CONSTRUCTION
REMOVAL OF ONE 100-GALLON UNDERGROUND STORAGE TANK DURING MASS EXCAVATION ACTIVITIES FOR SITE REDEVELOPMENT.
   
12/03/14 
RIVERFRONT HOLDINGS I LLC / WOODY WICKLIFFE
TN1500032 / CONSTRUCTION
INSTALL 40FT X 80FT TENT NO COOKING NO SMOKING NO PROPANE NO LIGHTING 40FT X 40FT TENT 2 GENERATORS 25KW EACH 20FT X 20FT TENT 8FT X 20FT PLATFORM 40FT X 40FT PLATFORM 20FT X 20FT PLATFORM INSTALLED DEC 8 -9 2014 EVENT DEC 9 2014 9AM - 4PM
   
12/05/14 
FLORIDA ROCK PROPERTIES INC / ROBERT S. WATTS
E1501658 / SUPPLEMENTAL
   
12/05/14 
RIVERFRONT INVESTMENT PARTNERS / JASON BENTLEY
B1408697 / CONSTRUCTION
CONSTRUCTION OF NEW 9 STORY BUILDING. THIRD PARTY REVIEW
1500 SOUTH CAPITOL ST SE   
12/18/14 
NATIONALS PARK / MARK W GIBSON
E1501975 / SUPPLEMENTAL
300 TINGEY ST SE   
12/15/14 
FC BOILERMAKER LLC / GREGORY BIRCKHEAD; FC BOILERMAKER LLC; MICHAEL BELL
E55526822 / SUPPLEMENTAL
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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