Two-Year Extension Filed For 30-Unit H Street Development

• November 5th

by UrbanTurf Staff

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Another development on the boards for the H Street Corridor will be delayed. 

The team behind a planned 30-unit apartment project at 1365-1375 H Street NE (map) has filed an application with DC's Board of Zoning Adjustment (BZA) seeking an extension of the approval for these plans. 

"Elevated, volatile interest rates resulting from tariff uncertainty and economic conditions rendered the project unfinanceable," the application stated. "We are hopeful that with the recent Federal Reserve interest rate cut, and guidance for further cuts will reduce borrowing costs enabling the project to be financed."

The development, designed by John Linam Jr., will be a four-story building consisting primarily of junior one-bedroom and one-bedroom apartments. The Atlas Doghouse will remain on-site. The development will provide new residents with SmarTrip cards and and Capital Bikeshare memberships in lieu of parking. 

The filing of extensions for projects around the DC area has become quite common in the last year as construction costs shoot up and developers are having difficulty finding financing. Here are some other developments where extensions were filed in the last several months:

• Two-Year Extension Filed For 210-Unit Project At H Street AutoZone Site
• 445-Unit Mixed-Use Development Adjacent to Audi Field Will Be Delayed
• EastBanc Files For Extension For New Georgetown Residential Development

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/two-year_extension_filed_for_30-unit_h_street_development/24036.