Friday, January 05, 2007

Another Housing Project for Eckington?

In addition to the infamous 181 occupant St. Martin's Housing project, news today has come that the decrepit and boarded up 1903 lincoln appartment building has been sold. Across the street, there are "luxury condos" being refurbished, for the bargain price of $200,000.

Here is a follow-up to an earlier post
1901, 1903 Lincoln Road NE Sold For $4,000,000

The boarded-up apartment building in Eckington at Lincoln Road NE and T Street NE
was sold for $4,000,000; one million lower than the asking price.

Here is the Remarks section of the MRIS record:
"Internet: Price also includes sale of adjacent building - 1903 Lincoln Rd. NE. Total of 24 VACANT 2 B/R APTS ON APPROX 15,500 sq ft of ground. Great for Condo Development or Planned Unit Development (PUD).Located in the heart of RED HOT Eckington. Just bocks to XM Radio, FEDEX,METRO - Easy access to downtown."
Here is the link to the MRIS entry:


Anonymous said...

Are you venturing to say that condos being sold at $200,000 qualify as low-income housing? Wouldn't a person need to make at least $50,000 per year to afford a downpayment, mortgage payment, insurance, HOA, etc on such a property? Additionally, any use besides vacant and abondoned is better than a building's current state of blight.

PalacePool said...

I am not saying that it is low income housing. i am saying that 200K housing are not luxury items. it is a tongue in cheek comment about the marketing. as for the building across the street 1901 lincoln, no one has figured out what will be done with that place as of yet. it would be great if you have some insight.

I disagree that anything is better. A planned usage that fits with the community currently with a focus on smarter growth is what we should be hoping for.

Better than what we have is not a good enough benchmark.

Anonymous said...

i believe this turned out to be indigo