Living on Capitol Hill

There’s nothing that can beat the experience of living on the Hill. Deciding on choosing a four-unit building that unifies with the area’s individual brick townhouses or the development of hundreds of units, condominiums. Decisive buyers and dwellers close to the Capital dome find a new haven of locality that gives a slower speed than Northwest Washington but definitely has the comfort and modern facilities that homeowners hunt for.

This is the ideal life that a homeowner basically ask from us, their realtors. There is no way you’re going to buy a property if there will be no convenience and enjoyment that you could have in the vicinity.

Two years ago we were looking at prices in the $300 to $400 per square foot range for new condos.  This year, it is more like $500 to $600, sometimes more for new construction. That’s not including condo fees. So the obvious downside to this is that you’re hard-pressed to find anything livable under $200,000. That’s tough for first-time buyers.

Even so, there is no visible buyer deficiency. The two large condo projects currently being constructed have ignited attention for new fangled buyers. It doesn’t matter if you’re new couples or single.

John Beggert, development manager at JPI, whose Jenkins Row Project at 14^th Street SE & Pennsylvania Avenue SE includes 247 luxury condos, a Harris Teeter grocery store and some additional establishments for people to enjoy has stated that even though the first condos were ready late in the summer of 2007, fewer than 10 units are still available. The condos include underground parking and a shared roof terrace. Prices start at $300,000 for studios and over $1 million for three bedroom apartments.

There is also another huge development at the 3^rd and H streets NE which is the Senate Square. It is behind the Union Station formerly called as the Capital Children’s Museum. This project is being handled together by Abdo Development, situated behind the 45-loft historic reconstruction and Broadway Management, where they are developing 480 condos in a section of new construction.

The innovative condos located in 130 year old building called the Landmark Lofts are equipped with Sub-Zero refrigerators and Wolf ranges which they are selling from $700,000 to more than $1 million. Traditionally, new construction condos averagely range from $300,000 to more than $1 million

“The entire city block is expected to convey significant benefits, like an open courtyard, benches, a screening room and lab pool”, said Toby Millman, vice president of project development for Abdo.

Millman said he is watching new businesses open on H Street NE, like the dance studio Joy of Motion and the Jamaican restaurant Phish Tea. He expects a grocery store to open near Senate Square. “Union Station has been drawing tourists,” he said, “but as H Street develops, residents will be taking advantage of all its shops and restaurants.”