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Metropolitan Overlook Condominiums Coming to Eckington

by Prince Of Petworth November 19, 2012 at 4:00 pm 17 Comments

1831 2nd Street NE

From a press release:

2nd Street Community Partners, a joint-venture between Ward 5 real estate developers The Menkiti Group and Dantes Partners, announces construction will begin on Metropolitan Overlook – a sleek, modern residential condominium community in the Eckington neighborhood. The project is a rehabilitation of an existing 37-unit apartment building that has stood vacant for more than two decades.

A groundbreaking ceremony will be held at 10:00 a.m. on Tuesday, November 27, 2012 at the building site, 1831 2nd Street NE. Members of the press and local community are encouraged to attend.

Metropolitan Overlook will feature a mixture of market rate, workforce and affordable for sale condominium units. By joining forces with DC-based non-profit City First Homes, 2nd Street Community Partners has guaranteed that 11 of the 37 units will remain affordable in perpetuity. City First Homes will provide ongoing stewardship and support for affordable unit owners.

“We are committed to creating workforce and affordable housing of the highest quality – housing that is on par with market rate units across the District,” said Bo Menkiti, founder and chief executive of The Menkiti Group. “With this project, we intend to raise the bar on what is achievable in workforce and affordable housing and set new expectations in the marketplace.”

The development team acquired the building through a property disposition agreement with the District’s Department of Housing and Community Development (DHCD). A solicitation for development proposals was advertised to the public by DHCD in October 2010.

“The development of this project fits our mission to create and preserve affordable housing options for District residents or people interested in making this city their home,” said DHCD Director Michael P. Kelly. “As housing prices increase, our long term goal is to provide homeownership opportunities that remain accessible for low- to moderate-income households.”

The project was designed by Miner Feinstein Architects in collaboration with Indigo Engineering, M. A. Design Group, ReStl Designers and Capitol Engineering Group. Additional consulting services for the project were provided by Compass Design and Development and CDKM Consulting. The General Contractor is Keystone Plus Construction.

  • KD

    I love to see these types of redevelopment projects. This building is in a great location looking right at the beautiful McKinley Tech high school and also two blocks from the MBT. I’ve been wondering when a developer would be able to take advantage of the property.

  • Good luck to people moving into that building if the Menkiti group continues the shoddy, irresponsible and illegal work they did on our house (plumbing, electrical, environmental; you name it, we’ve had to fix their sorry excuse for work).

  • Everyone be for warned the Menkiti Group are horrible developers who hire incomptent contractors. They did a shitty job in my rehabing my building. Tell me how multiple so called brand new AC’s go out in multiple units within 9 months of development. Residents washers weren’t put together correctly causing leakage and water damage. Avoid this development look else or have a really good inspector and read the warranty well because you are going to have to go to battle once shit starts falling apart.

  • Anon X

    What the hell does this mean: “2nd Street Community Partners has guaranteed that 11 of the 37 units will remain affordable in perpetuity.”

    So, if you own the condo, you cant sell it for what its worth? So much for homeownership being a path toward wealth accumulation and generation-to-generation transfer of wealth, and a more prosperous future for your children than you had.

    • yeah basically they will help with a huge down payment basically a second mortgage. That way you can avoid paying for mortgage insurance bring ingdown your monthly payments. Great if you don’t have a lot of money saved up and if you don’t make that much. Bad: Cityfirst won’t let you rent the place out for extended amount of time, yes you can’t sell it for more than its worth. This is a huge draw back. The last thing is Menkiti group is a part of this so your place is going to have a lot of issues anyway so you automattically screwed once you go into closing.

      • ihatelawpuns

        “guaranteed … in perpetuity”

        Pretty sure the Duke of Norfolk would have something to say about that.

    • Anonymous

      maybe they will be rental units.

      • Anon X

        They appear to be condos for sale:

        Metropolitan Overlook will feature a mixture of market rate, workforce and affordable for sale condominium units.

        • Anonymous

          yeah. i’m equally perplexed.

    • Anonymous

      why should someone be able to sell the condo for market value when they didn’t pay market value for it to begin with?

      • Anonymous

        Does your logic extend to short sales and foreclosures as well?

        • Anonymous

          of course it does, short sales and foreclosures are purchased at prices set by the market, not by meddling politicians and naive liberals.

    • Anonymous

      I’m not sure the exact structure of this development, but I know one approach to preserving affordable housing is a limited-equity structure, which ensures that units will stay affordable even if prices in the surrounding area rise dramatically (and also ensures that creating the affordable housing doesn’t end up being for nothing a few years down the line). There is some debate in the advocacy community about this. One argument goes that low/moderate-income people should have access to the same wealth-building opportunities from their equity as market-rate buyers (and in fact that equity is important for narrowing wealth gaps). The opposite thought is that it’s reasonable to ask buyers to accept limited equity in exchange for the more affordable, below-market purchase price and the greater good of keeping that housing affordable. The limited equity mechanism is also meant to build community, by encouraging buyers to put down roots and discouraging flippers/investors.

  • Anonymous

    These two firms have done lot of great work around DC. Sad to see a couple of negative people attacking those who take the risk and do the hard work of turning vacant and abandoned eye sores into beautiful productive buildings and also create much needed affordable housing in our fine city….

    • First of all, no one is saying that they aren’t going to turn the building into something that cosematically looks nice. They are going to take a run down building turn it into something nice because most developers rather build boutique buldings and charge a lot. But when you already have a building that was reserved for low income families you can just let it go to hell because then you would create environment of slum lords letting building decay so they can flip into high price condos.

      My point is that they hire crappy sub contractors because when its in mulitiple units its no longer just simple mistake its gross negligence. The building will be a hot girl who was abused by her uncle. its going to look great on the outsde but once your in their there is going to be a whole lot of issues.

  • Good that something is happening with that building. I’ve been in DC almost 10 years and it always seemed like it should be ripe for redevelopment.

  • wobble

    Sorry to be negative, but even the rendering looks like a slum building. I guess, from what others have said, the buidling has been abandoned for a while, and this is an improvement.

    However, a good architect should be able to make this place lood better with limited cost.


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