May 2, 2006


DC condo developers are taking a licking but keeps on ticking. Architect Suman Sorg paid $3.8 million last month for the northeast corner of 10th and V Sts. NW, a block north of the U Street Metro station. She hopes to build about 45 condominiums and new offices for Sorg and Associates, says WashBiz.

Sorg's building is one of seven large residential projects within three blocks. Broadway Partners is planning 700 housing units at Eighth Street and Florida Avenue. LaKritz-Adler Development is building 65 a block away. Metro Properties' The Rhapsody is set to deliver 132 units at U Street and Vermont Avenue. And the D.C. Housing and Finance Agency wants to redevelop its sprawling Florida Avenue headquarters.

Sorg's building, to be called Logic, is "a roaring success, we'll probably do it again. If not, oh well ... I'm going to do what is logical." When confronted with the growing inventory, Sorg says people want to live in the city, and it's "still grossly undervalued."

Hmmmm ... sounds more like a hunch to us.

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