WASHINGTON, DC—The District of Columbia has reached an agreement to sell the R.L. Christian Library property at 1300 H St. NE to Rise Development and the H Street Community Development Corp. for approximately $2.8 million.
The Rise/H Street partnership has plans to redevelop the property into a mixed-use development that will feature a 30-unit to 45-unit apartment building that will also include about 8,000 square feet of retail space.
Rise and the H Street CDC were awarded the development rights in January 2013 to the 10,800-square-foot parcel, according to the Washington Business Journal.
The project, to be named after R.L. Christian, is expected to cost a little more than $12 million and will generate more than $2 million in real property taxes over its first 10 years. 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.
