CityMarket at O Making Headway

• April 27th 2011

by Mark Wellborn

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The CityMarket at O blog and the Washington Business Journal are reporting that the HUD Central Loan Committee approved a $117 million loan yesterday for the CityMarket at O project.

The loan application was originally filed by CityMarket at O developer Roadside Development in February 2010, so its approval was a long-time coming. Next, Roadside will receive an invitation from HUD to “File a Firm Commitment” which is essentially the plans and the specifications for the project. The Washington Business Journal’s Michael Neibauer wrote that once the HUD invitation is received “Roadside will have to file another application, and then negotiate closing documents. Susan Linsky, [Roadside’s project manager] said she hopes to close by August.”

Located in Shaw, CityMarket at O will be a one million-square foot urban infill project that will include over 87,000 square feet of retail, 629 residential units, and 500 parking spaces. Constructed in 1881, the O Street Market was one of several public markets that served DC residents during the 19th century.

A new Giant grocery store will replace an existing Giant and will be the primary retail focus of the development. The new Giant is scheduled to open in 2013 with a 181-room hotel and 400 units of market rate rental housing soon to follow. An 84-unit affordable senior housing building and a 145-unit condo project are schedule for delivery in fall 2014.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/citymarket_at_o_making_headway/3396.