Reply to Big GDS news

Forum Index » Private & Independent Schools

Reply to "Big GDS news"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]Approval's not the biggest hurdle.  Once it's cleared, there's financing.  On the GDS front, no major donations have been announced.  Sidwell will clearly win the facilities race -- larger campus, quicker and much less expensive consolidation process.

Meanwhile, another couple hundred new apartments will come on line in Tenleytown -- closer to the Metro and presumably with lower rents -- before the project at the Volvo site even breaks ground.  Like Sidwell's lower school relocation, these commercial projects will also involve adaptive reuse of existing buildings (where WAMU and Krupin's/Murasaki used to be) and require minimal (if any) zoning relief.  Hard to believe that with these units, in addition to new apartments at Cathedral Commons, 5333 Connecticut, Tenley View, and Park Van Ness all within a mile or so of the GDS site, that there will be demand for another 250-300 units with a scenic view of a 1200 student PK-12 campus.[/quote]

The GDS development will be oriented toward a more upscale demographic, not really in competition with the reheb projects you mention.[/quote]

The rehab projects (which are going to be 225 units of Class A residential) will be a preferable alternative for AU law school students who might otherwise have ended up at the GDS site.  Throw in the recently-built Cathedral Commons (137 apartments) and the approximately 600 luxury rental units currently nearing completion at 5333/Park Van Ness/Tenley View and you're talking about over 950 new units in the same submarket before the GDS project (approximately 250 units) get financing.  Even if GDS's developer switches to condos (which messes with the revenue stream for the school which, supposedly, was the raison d'etre of this whole plan), it's unclear there's sufficient demand for more small expensive units in this area.  Especially at a site where there will be a clusterf*ck of traffic at least once every school day.  The affluent empty nesters GDS hopes to attract will not find this project attractive.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics