The Washington Business Journal and CityBiz report that Progression Place has been placed on the market and is expected to sell for more than $130 million. Progression Place is the mixed-use project adjacent to the Shaw/Howard University Metrorail station at 7th and S Streets, NW, which most notably will house the headquarters of the United Negro College Fund.At this point, it doesn't seem like the sale will have a practical impact on the development itself, but this is an interesting bit of news nonetheless.
To read the CityBiz article, which includes a description of the project and the condominium arrangement for the property, go to http://bit.ly/xFZrBA.
To read the Washington Business Journal article, which indicates (via Jones Lang Lasalle, which is marketing the property) that the current owner (Four Points LLC) had not planned to be a long-term owner of the project and wants to sell the property to raise capital for other of its projects, go to http://bit.ly/z69ryg.
your blog name and boundaries are confusing and not in line with how residents of shaw think of the area.
ReplyDeleteThanks for your comment. I don't disagree that it's probably not the best name, but it's the best I could come up with for now. The area I'm focusing on in the blog includes a large portion of Shaw (focusing more on the eastern and central areas) and it also includes much of the Mount Vernon Square area -- but that's not easy to encapsulate in a blog name :), so I went with East Shaw.
ReplyDeleteWelcome to the Shaw blogosphere!
ReplyDeleteThanks, Shaw Rez!
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