WASHINGTON, DC—Virginia-based Cornerstone Development Group is acquiring four buildings on H Street NE where it plans to build a mixed-use project.
The firm has agreed to 646-654 H Street NE from the Pilgrim Baptist Church for an undisclosed price. The sales deal is slated to close in early June, according to the Washington Business Journal.
“They were never on the market,” Rev. Louis Jones II, the pastor of the Pilgrim Baptist Church says. “It was just an offer that we thought was lucrative, that was feasible and we should do so that we can invest in more ministry.”
An April 23 letter from D.C. Zoning Administrator Matthew Le Grant to Dario Davies of Fairfax-based FORMDesign, a partner in Cornerstone, reveals Cornerstone intends to replace the four H Street storefronts with a multifamily building and ground floor retail. See story in the Washington Business Journal.
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