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Shopping Center Will Become $100M Condo Property

WASHINGTON, DC-The development of a $100-million condominium project gets a jumpstart with the sale of the Nehemiah Shopping Center, an 18,000-sf mini-mall on a one-acre site in the Columbia Heights area of the District.

By Barbra Murray | Updated on March 20, 2006

(To read more on the multifamily market, click here and for more retail coverage, click GlobeSt.com/RETAIL.)

WASHINGTON, DC-The owner of an 18,000-sf Nehemiah Shopping Center has agreed to sell the property, paving the way for a $100-million condominium project. The center on the 2400 block of 14th St. NW will be redeveloped into a property with 225 market-rate residences and ground-level retail space.

Level 2 Development will acquire the shopping center in the Columbia Heights area from Horning Brothers for an undisclosed amount. According to District real estate records, the property has a current assessed value of $2.9 million.

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