DC Sells Land for $80M Project

WASHINGTON, DC-The Fenty Administration is selling a nine-acre parcel of land to two developers who plan to turn the acreage into one million square feet of housing and retail development. The site is located at Riggs Rd. and South Dakota Ave., NE.

Specifically, the developers–Lowe Enterprises and Jacksophie Development–are planning to build three separate projects surrounding the parcel. Later this year, they will break ground on Ft.Totten Square on the former Tiger Mart site. This project will include468 units of housing–with 94 reserved as affordable, 71,000 square feet of retail and almost 500 parking spaces.

In 2010, the JV will begin construction on phase two, called Dakota Pointe, which will include about 170 units of housing and 87 parking spaces. The third phase, which will incorporate the parcel of land acquired from the District, is called the Dakota Flats. It will include about 260 apartments–52 of which are affordable–23,000 square feet of retail and 150 underground parking spaces. The Mayor’s office did not return a call to GlobeSt.com in time for publication.