From a press release:
MRP Realty and Ellis Development Group have teamed with Fundrise, a local, online platform that uses technology to create a new model for real estate investment centered on crowdsourcing, to offer the public the opportunity to invest in their next development, The Griffith, located at 965 Florida Ave, NW. The Griffith is a mixed-use development consisting of approximately 370,000 square feet, including 40,000 square feet of ground floor retail and residential units above. The Griffith title is in homage to the old Griffith Stadium that was located between Georgia Avenue and 5th Street from 1911 – 1965. The development parcel is currently being sold through the District of Columbia Deputy Mayor’s office, and MRP’s proposal has been selected to be in the best and final round.
Ground floor retail of the development will include Griffith Market, designed as an indoor farmers’ market that allows small and independent grocers, operators, and retail entrepreneurs to set up inside the building and serve the general public in a creative and affordable manner, thereby creating an urban village that is authentic to the culture of Shaw and LeDroit Park. It is intended to compliment, not diminish, the high end, large scale grocery store planned for the Howard Town Center. More importantly, Griffith Market is intended to provide food and retail options that serve the immediate neighborhoods of the community while also serving as a destination for residents throughout the City.
Ed. Note: In late April we looked at the Ellis and competing JBG proposals for 965 Florida Ave, NW. A winner has not yet been selected.
I’m curious what folks think about the proposed Griffith Market. Do you think it will work well in that location? Do you think it can serve the public in an “affordable manner”? Would you invest in something like that?
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