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Pleasant Plains To Get a New 26-Unit Condo Project

  • June 8th 2012

by Shilpi Paul

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Pleasant Plains To Get a New 26-Unit Condo Project: Figure 1
2920 Georgia Ave NW

Last night, the developer behind a new condo project at 2920 Georgia Ave NW (map) stopped by the ANC 1B meeting to seek approval on some minor variances for the new development. Developer Art Linde presented plans for the 26-unit building, and received approval for a variance relating to curb cuts.

The site of the project is currently occupied by an empty car lot and is next to another 22-unit project developed by Linde at 2910 Georgia Ave NW that went up in 2010. Because the soil at the site of the new project is contaminated, they will have to spend some time digging up gas tanks and cleaning the ground.

Ten percent of units at the new development will be reserved as affordable; as Housing Complex noted earlier this week, their saleability is yet to be seen. It’s turning out to be very difficult to get a mortgage, particularly an FHA-backed loan, for affordable units as banks are reluctant to offer a loan on a home that can’t be sold at market rate in case of a foreclosure.

See other articles related to: condos, dclofts, pleasant plains

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/new_condo_coming_to_pleasant_plains/5634.

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