WASHINGTON, DC—A letter by DC's zoning administrator Matthew Le Grant says that the Industrial Bank building at 2002 11th St. NW is to be razed to make room for a new multifamily building.
The vacant two-story commercial building owned for more than two decades by Industrial Bank, could be replaced with 10 stories of residential development, according the Le Grant letter.
It is unknown whether Industrial Bank is preparing the site for a sale or if the bank intends to take on the development on its own, according to the Washington Business Journal.
The property has an assessed value of $1.3 million. Any new development, under current zoning, could rise to a maximum 100 feet, Le Grant wrote in the letter. See story in the Washington Business Journal.
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