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50 Florida Avenue -- Leaning Toward Condos

  • February 8th 2011

by UrbanTurf Staff

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50 Florida Avenue -- Leaning Toward Condos: Figure 1
Bird’s-eye view of where B&B’s new project will be located

Last week, Bisnow reported that B&B Realty Investment had purchased a 62,000 square-foot warehouse at 50 Florida Avenue in NoMa with plans to turn it into a large-scale residential project.

Although the development, which will not deliver for two to three years, is still very much in the planning stages, B&B’s Rick Brown told UrbanTurf earlier today that the firm is leaning toward the new development going condo, rather than rental, which is now the trend.

50 Florida Avenue -- Leaning Toward Condos: Figure 2
Warehouse at 50 Florida Avenue

“With the current boom in apartment construction and the low inventory for new condos, we are leaning toward condos,” Brown told UrbanTurf. “However, that could change depending how the market looks in 18 to 24 months.”

B&B hopes to break ground on what will likely be a 240-250 unit project in about 18 months, but it first needs to get approval to raise the zoning capacity at the site. The firm is in talks with a number of architecture firms to design the development.

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This article originally published at https://dc.urbanturf.com/articles/blog/50_florida_avenue_--_leaning_toward_condos/2968.

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