From Michelle Lancaster. Tell me what I missed on Twitter @MichLancaster.
Lower Loan Rates Mean Higher Down Payments
Lower loan rates are coming to potential homebuyers as a result of the recent mortgage crisis. So, if you are looking to move away from that noisy patio bar or want to be closer to the action, what should you expect as of October 1? Urban Turf reports that you’re likely to encounter more stringent underwriting of loans, higher down payments and higher interest rates. It’s perhaps not all bad news, though; the smaller pool of buyers capable of putting down a big payment may drive prices down.
The Saga of the ‘Post Office’ Project
So, now you’ve decided where to buy. Be careful, there are commercial real estate areas near you that may cause a ruckus, either in applications for liquor licenses or while in operation! We reported on the decision by ANC2B to protest the ‘Post Office Bistro’ liquor license application earlier, but there’s more to this story. Fliers appeared in residents’ mailboxes and posted around the area earlier in the week, urging residents to protest the bistro’s application. A number of residents took issue with the fear mongering messages and anonymous approach and have been expressing their opinion in comment sections of some local blogs. Now, we find out from 14th and You and from Tuesday night’s ANC meeting that the flyer was the brainchild of Elwyn Ferris. Why does that matter? He’s the partner of local ANC2B Commissioner, Ramon Estrada. See Tom Hay’s summary from last night’s ANC 2B meeting: ANC 2B Votes to Protest “Post Office” Liquor License Application.
The vote was 7-0 with two abstentions: Jack Jacobson and Mike Silverstein. Silverstein is also a member of the DC Alcoholic Beverage Control (ABC) Board and regularly abstains from ANC votes on liquor license related issues.
One speaker on Wednesday evening said that she was not for or against the endeavor, but hopes that a resolution will be achieved in a reasonable manner, not through fear-mongering anonymous fliers.
From Matty Rhoades
Two small buildings at 1407-1409 T Street NW could become a new restaurant in the 14th Street corridor — but the path may not be simple. One of them is a former U.S. Post Office that has long been used as an annex for storing furniture for Ruff & Ready. The other has been renovated and sits empty.
The two buildings are zoned commercial and while they face the Room and Board store across the street, everything else on the 1400 block of T Street is residential, and close by at that. LoopNet lists the property as 1407-1409 and shows the two buildings joined by a two-story addition.
Working with NY-Based Chow Down
Local entrepreneur Blake Kimbrough is behind the Post Office restaurant project. Kimbrough said he is working with John Dempsey with the New York-based chain of trendy, affordable eateries, Chow Down, Inc. Chow Down owns such well-known establishments as Therapy, Barrage, El Centro, Hell’s Kitchen and Vynl.
“We have met with several residents from the building next door and are continuing to reach out to local residents to understand their concerns. We believe that local resident support is the greatest factor in guaranteeing our success in the historic U Street corridor,” Kimbrough told Borderstan.
Kimbrough said they are still working on the overall food concept, but are leaning toward modern-southern.
Application on ANC 2B Agenda
Any new spot in the location would be close to Policy, around the corner on 14th, and Cafe Saint-Ex at the southeast corner of 14th and T Streets. Another space at the northwest corner of 14th and T, a former liquor store, is still vacant.