22 WASHINGTON BUSINESS JOURNAL

REAL ESTATE INC. EXTRA 50

1 WARD 7
3 4
ALL EYES ON SKYLAND
AND PENN HILL
Well all be watching to see if Rappaport
and WCSmith can finally start vertical
construction on retail and apartments at
Skyland and whether those market-rate
apartments will draw new residents to
the neighborhood and if Jair Lynch
can attract a grocery store to his re-
imagined Shops at Penn Hill center.

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Av
eS Location: 5127 Nannie Helen
E Burroughs Ave. NE
Pe
nnsy
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Landowner: D.C. government
nia
Av Developer: The Warrenton Group,
Ward 8 eS
E NHP Foundation

2 Size: 1,389 square feet of retail,

1,233 square feet of community
space and 86 affordable
Ward apartments in a new six-story
7 apartment building.
Branch

Cost: $28 million

Status: In the pipeline
Ave SE

Chances: With the District

providing $27 million in gap
1 financing, this bid to return the
Strand Theater to productive
use looks like it just might prove
successful.

SKYLAND TOWN CENTER SHOPS AT PENN HILL PARKSIDE CAPITOL GATEWAY

1 Location: Good Hope Road,
Naylor Road and Alabama Avenue SE
Landowner/developer: Partnership of
Rappaport Cos. and WC Smith
Size: The initial phase will feature 263
residential units and 80,000 square feet
of retail, including a 10,000-square-foot
CVS. The project as a whole is approved
for 468 multifamily units and 325,000
square feet of retail.
Cost: Phase I $115 million, future
phases $130 million-plus
Status: Work on the modified first
phase is expected to begin in the fall of
2017 with delivery in 2019.
Chances: Good, at least for Phase 1.
The remainder of the project, what
was to be the Wal-Mart-anchored first
phase until Wal-Mart bailed, needs to
be heavily modified and the timeline is
unclear.
2 (Formerly Penn Branch
Shopping Center)
Location: 3200 Pennsylvania Ave. SE
Landowner/developer: Jair Lynch
Real Estate Partners
Size: The existing 88,000-square-
foot center would be expanded,
and a portion of its parking lot
redeveloped, with up to 150
residential units, 22,000 square feet
of office and 35,000 square feet of
new retail, likely a grocery anchor.
Cost: N/A. Jair Lynch paid $9.25
million for the center in 2016.
Status: Map amendment
application submitted to the Zoning
Commission in May to allow for
mixed-use across the 3.5-acre site
Chances: Better now that Jair Lynch
is involved. Previous attempts to
redevelop or revitalize Penn Branch
failed, badly.
3 Location: 600 Kenilworth
Terrace NE
Landowner/developer: CityInterests
LLC, Gilbane Development Co.,
StonebridgeCarras
Size: Parkside, near the Minnesota
Avenue Metro station, spans
26 acres and is approved for 1,500
mixed-income multifamily units,
750,000 square feet of office and
50,000 square feet of retail. Only a
small percentage has been built so far,
though plans have been submitted for
a 503,019-square-foot office building
in an attempt to land a federal tenant.
Cost: $760 million
Status: Parkside is a work in progress.
The office portion is in the pipeline
and awaiting a tenant.
Chances: The office building is a big
question mark, as it likely will not be
built without an anchor tenant signed.
5 MARKETPLACE
Location: 5800 E. Capitol St. NE
Landowner: D.C. Housing Authority
Developer: A&R Development
Size: Phase II includes a total
460,000 square feet, mixing 300-plus
residential units and retail.
Cost: $100 million
Status: Phase I is substantially
complete, but Wal-Mart bailed on
the second phase of this project in
early 2016 and neither the retail nor
additional residential building were
constructed.
Chances: The company has said it
was seeking one or more retailers
to take the Wal-Mart space, but it
appears that this project has stalled.