I reported back on May 15th 2019 that the 229 unit apartment in building 5 was confirmed to be breaking ground in June of 2019 in the post linked here
I still have not seen that reported anywhere, only the fact that the financing finally went through being reported by the Washington Business Journal in May.
I now have confirmation on a solid date in June. The ground breaking is Wednesday, June 19th 2019.
Also good news is they plan to NOT have the hiker/biker trail blocked during the entire 18 month construction process of this apartment. Goal is to get that opened very early in the construction process.
For the other two apartment buildings coming after the first apartment is completed (building 8 and 9) surprisingly there was no change at all between the documents they submitted and my 2017 blog post about these apartments here. The exact same number of units but two buildings instead of three.
Since those will not even begin construction for over two years from now they almost are not worth talking about yet as there is a possibility at that time it won't make economic sense to add another 630 apartments to this area. I think a lot will depend on the occupancy rate of the first 229 units in building 5 on if the later apartment plans go forward.
Thank you for posting this blog! Extremely helpful. I just submitted a contract on one of the last Parkers.
ReplyDeleteI was wondering what your thoughts were about the land area for sale across from the Riverdale Park Town Square/Marc train station? I never see anyone mention this, but it could potentially really give the town square a totally different feel. See link below to redfin posting:
https://www.redfin.com/MD/Riverdale/6201-Natoli-Pl-20737/home/11040705
Interesting. That's been for sale for almost a year now and they have not moved down the price. I guess they are willing to wait. That will change things down there if it ever sells.
DeleteThanks for sharing. Great post very Informative, also checkout Manning Properties
ReplyDelete