1824 Fenwick Street NE

Ivy City
Washington, DC
Mixed-Use Development

Project Architect: Bonstra | Haresign Architects
Project Design: MMg
Completed: Q3 2015

Highlights

MMg purchased the property as inventory for later development. The property was leased to and auto repair tenant on a month-to-month arrangement. Originally conceived to be redeveloped as either an Upscale food multiplex, complimentary to Union Market or an industrial kitchen facility for the large and growing restaurant industry along the H Street Corridor, it also had potential to be converted to a work/live studios for professional services such as architects, designers, artists, light industrial, etc.

Located in Ivy City which is known for its CM1 zoning (industrial/commercial) the future developed subject site will compliment new mixed-use developments projects nearby. Proximity to New York Avenue, the H Street Corridor and rail service, 1824 Fenwick Street NE offers a variety of future uses while providing stable short-term rental income while the market evolves and absorbs new businesses, apartments and condominiumsmodeled after the Meat-Packing District in New York City.

After the launch of the Hecht’s warehouse project which features 300 new apartments and a 900-car parking garage, MMg was offered a price for the property roughly twice the amount paid a year earlier. The property traded hands and is now being considered for re-development by its new owner.

Neighborhood

Ivy City is on a triangular strip of land in the central part of the Northeast quadrant, bounded by New York Avenue to the northwest, West Virginia Avenue to the east, and Mt. Olivet Road to the south. The neighborhood is unusual in that it is also surrounded on all sides by significant landmarks: Gallaudet University (across Mt. Olivet Rd.), Mount Olivet Cemetery (across West Virginia Ave.), and Amtrak’s Ivy City yard (across New York Ave.).