WASHINGTON, DC— The Wilkes Co. and Quadrangle Development Corp. have for nearly eight years looked to build a residential building at 801 Third St. NW. Their development project took a major step forward with their purchase of two land parcels from the District of Columbia.
The developers of Mount Vernon Place acquired the parcels on Third Street Northwest that front the west side of Interstate 395 for $3.74 million, according to the Washington Business Journal.
“We're certainly delighted to have reached the point where we've had a closing,” says Wilkes Co. Chairman Sandy Wilkes. “This has been a long journey. The property in question had pages and pages of very complex and difficult title issues having to do with the construction of the freeway.”
He later notes the two newly acquired parcels are “essential to what we have in mind and what we have in mind is a wonderful project that is still as interesting and vital today as it was when we began the journey almost eight years ago.”
Wilkes and Quadrangle can now move forward with their mixed-use development project that calls for the construction of a 350,000-square-foot residential building. The project will also feature some retail space and community space for the neighboring Mount Carmel Baptist Church. See story in the Washington Business Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
