From Rachel Nania. Check out her blog, Sear, Simmer & Stir. Follow Nania on Twitter @rnania, email her at rachel[AT]borderstan.com.
The deputy mayor for Planning and Economic Development (PED) has selected the developer for Parcel 42 — a plot of land in Shaw at 7th Street NW and Rhode Island Avenue NW, and a rectangular lot at 7th and R Streets.
Several bidders met the qualifications of the previously solicited Request for Expressions of Interest, but PED selected Shaw 42 Developers, LLC, a joint venture between TenSquare and the Chapman Development Group.
The planned development includes a 105-unit residential building with ground floor retail, according to a previous profile from Urban Turf. The development will consist of studio, one-and-two-bedroom units, with room for retail.
ANC 6E-02 Commissioner Kevin Chapple says the proposal from Shaw 42 Developers was most attractive to the city because the group offers the city a 99-year ground lease. This means that after 99 years, the land and the building on Parcel 42 will revert back to the ownership and control of the city government, unless otherwise negotiated.
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