Wednesday, April 2, 2008

Florida Avenue Market Update

DCmud recently had an an update on Gateway Market Center Inc.'s (part of Sang Oh Development) development proposal for the northwest corner of the intersection of 4th Street and Florida Avenue, NE. It is a small part of the proposed mini-city, New Town at Capital City Market.

Bisnow has some information about retail developer, Edens & Avant, who is venturing with J Street Development to develop the parcels that J Street has purchased in the area.

Steve [Boyle, E&A's mid-Atlantic head] says the Florida Market is the sort of "true urban redevelopment" that comes along once in a blue moon. They've bought 6 parcels already from among 70 owners in the area, aim to get more, and in December closed on DC Farmers Market, a structure with about 50 tenants selling everything from bananas to sneakers. Though still just in an entitlement and zoning, Steve tells us he'd love to see a focus on cultural food, maybe a culinary institute, and a grocery store to lend a neighborhood feel. He loves a little Italian grocery store there called A. Litteri, and wants to preserve it and other mom and pops. "We want to bring the old and the new parts together."
It's obvious Sang Oh Development and J Street Development have contrasting visions of how the area will be developed. It will be very interesting to see whether minds will meet or whether compromises can be made. It will also be nice to see the area cleaned up a bit but not to lose its character.

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