435 R Street NW

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Coming to R St NW

I think this has been reported before. Last month this chunck of land with the neighboring closed dry cleaner was bought for $1.5 mil. A lot of that seems to have been to help the dry cleaner owners deal with the site.

The "Urban Land Company worked with an environmental remediation firm for years on the site to estimate the costs. All that paid off...we had ample data to entice both buyer and lender to pursue the project. A savvy developer managed the risk, got an acceptable phase II study during a reasonable feasibility period and settled on a great site."

It will be interesting to see how long it will take before we see any movement.

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