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Controversial affordable housing project near Amazon HQ2 advances
A proposed affordable housing redevelopment in Crystal City is forging ahead through Arlington County’s land use approval process, despite pushback from residents in the area.<\p> A joint venture between two nonprofits filed a rezoning and site plan application June 21 with the county’s planning department to redevelop a low-rise job training facility at 750 23rd St. S. with a five-story all-affordable apartment building. The project would also provide space for educational training and support services for people with disabilities. <\p>
Inova takes over defunct university's Woodbridge campus
Inova Health System is again expanding its footprint, this time taking over a full building in Woodbridge for clinical care — pushing the Falls Church nonprofit farther south and into a pocket of Northern Virginia it has yet to deeply penetrate.<\p> The health system will be building out the three floors at 14349 Gideon Drive, spanning 42,000 square feet, for which it filed a building permit over the weekend. It’s now “in the early stages of planning and design,” an Inova spokesperson told me in an email.<\p>
NAR settlement means 'summer of uncertainty' for real estate agents
Teresa King Kinney is no stranger to abrupt change in the real estate industry — and the National Association of Realtors' recent settlement is no exception.<\p> She’s been the CEO of the Miami Association of Realtors and its 60,000-plus agents since 1993. In that time, she's navigated several recessions, the Global Financial Crisis and the turbulent, unpredictable Covid-19 pandemic.<\p>
Boeing nears deal to buy parts supplier for $4.08B
The Boeing Co. (NYSE: BA) is nearing a deal to reacquire the supplier that makes many of the parts for its popular 737 Max jets, according to news reports.<\p> Bloomberg reported late Monday that Arlington-based Boeing is offering to buy Spirit AeroSystems Holdings Inc. (NYSE: SPR) for $35 per share, or about $4.08 billion based on the number Spirit shares outstanding. The deal would be funded primarily by stock and could be announced in a matter of days, Bloomberg reported, citing people familiar with the discussions.<\p>
Science nonprofit acquires downtown D.C. office at foreclosure auction
D.C. nonprofit Society for Science, which held the note on 1776 Massachusetts Ave. NW and moved to foreclose on the office building last month, acquired the building at a foreclosure auction Friday for one-third of its assessed value.<\p> An affiliate of the nonprofit, Society 1776 Mass Ave LLC, bid $10 million for the building at Harvey West Auctioneers office on Wisconsin Avenue, according to substitute trustee Russell Drazin. It was the only bidder.<\p>
Loudoun lawmakers teeing up more regulations to curtail data centers
A Loudoun County lawmaker and leading data center critic is spearheading a nascent effort to enhance the county’s legal authority to block data center developments based on their electricity consumption.<\p> Supervisor Mike Turner, D-Ashburn, hasn't issued a formal legislative proposal yet, but one is likely forthcoming in the next year or so that would require data centers to supply at least some of their own power on-site rather than by hooking into the grid. He introduced a white paper on the subject at a June 20 meeting of the Board of Supervisors’ influential Transportation and Land Use Committee. <\p>
Multicultural restaurant to replace Bangkok Joe's in Georgetown
The duo behind the Michelin-recognized Residents Cafe & Bar in Dupont Circle will serve up a multicultural mix of dishes from Italy, Lebanon and Spain at a new restaurant co-founders Farid Azouri and David Nammour plan to open early next month in Georgetown.<\p> A grand opening is planned for July 6 at the River Club, the new restaurant replacing Bangkok Joe’s at 3000 K St. NW. Word about the new spot has started to trickle out, as was noted by a few outlets including Barred in DC, but the Washington Business Journal recently caught up with Azouri and Nammour to learn what they plan to cook up in their new spot. <\p>
Foreclosure sale scheduled for Golden Triangle office building
Another prominent downtown D.C. office building is headed to a foreclosure auction. <\p> A foreclosure notice was recorded Friday with D.C.'s Recorder of Deeds for 1129 20th St. NW, a 176,017-square-foot, 10-story property known as the Liberty Building. The notice shows a planned July 25 foreclosure auction at the Massachusetts Avenue office of Alex Cooper Auctioneers. A foreclosure affidavit for the property was recorded June 17, signaling the building was potentiality headed to auction.<\p>
Aldi entering the Springfield game of musical grocery stores
What may be the final stage of the yearslong game of musical grocery stores playing out in Springfield has begun with a new entrant: Aldi.<\p> General contractor L.F. Jennings is seeking subcontractors for a multistage project at the Rappaport-managed West Springfield Shopping Center on Rolling Road, to include a loading dock expansion, modification to the center’s existing clock tower and “facade demolition and modification for a new Aldi.”<\p>
Kaiser-backed D.C. health nonprofit acquiring N.C. health system
Less than three months after completing its first-ever acquisition, a D.C. health care nonprofit founded last year by Kaiser Permanente has struck another deal.<\p> Risant Health, which Kaiser established as a means of creating a nationwide, value-based health care network, is acquiring Cone Health, a Greensboro, North Carolina-based nonprofit health care system that operates four hospitals, a behavorial health facility and a health care plan serving more than a half million patients in central North Carolina.<\p>
Metro issues RFP for joint development by D.C. station
Metro is soliciting proposals for a mixed-use residential joint development on roughly 1.12 acres in Deanwood near the Metro station, neighboring a soon-to-be D.C. public library branch.<\p> The Washington Metropolitan Area Transit Authority released the request for proposals Tuesday, its second of perhaps five expected this year for various underused properties across the Metro system. The site, at 4812 and 4880 Minnesota Ave. NE, is encouraged to be developed with new housing and neighborhood-serving retail totaling up to 275,000 square feet.<\p>
Virginia fintech lands rare $18.8M in VC round
McLean fintech Verituity has raised $18.8 million to expand the customer base for its software, which helps verify financial transactions quickly and efficiently.<\p> Sandbox Industries of Chicago and San Mateo, California-based Forgepoint Capital led the round, first reported by Axios Pro on Friday. D.C.’s Ardent Venture Partners — led by General Partner and co-founder Phil Bronner — and Santa Monica’s MTech Capital also took part. Forgepoint Capital and Ardent VC led the company’s $10 million Series A round in 2021. <\p>
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