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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>
Congress Heights IHOP to reopen after pandemic-era closure
An IHOP restaurant in Southeast D.C. is poised to reopen next month, nearly two years after its previous owner closed it. <\p> Formerly known as the International House of Pancakes, the restaurant at 1523 Alabama Ave. SE became the first national sit-down restaurant chain to open in Ward 8, a predominantly Black part of the District east of the Anacostia River, when it debuted at the Shops at Park Village in 2008. <\p>
These jobs soared during the pandemic and are here to stay
Part-time job listings soared during the Covid-19 pandemic and have yet to recede — a potential sign that both workers and employers see benefits in the arrangements. <\p> Beginning in early 2022, the share of part-time jobs posted on job-search engine Indeed grew 10% before leveling off in 2023. <\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>
Fairfax County scraps ‘green bank,’ shifts funds to new program
Fairfax County has scrapped plans to create a "green bank" that would have provided funding for clean energy projects, opting to instead redirect the earmarked cash to a new program that would help county residents make their homes more energy efficient.<\p> The Board of Supervisors voted to redistribute the funds on June 11, nearly three years after it directed staff to look into the feasibility of such a green bank program for Fairfax residents and businesses. In all, $638,955 will be reallocated to new pilot program, Electrify Fairfax, under which "credible third-party contractors" would provide advisory and referral services to residents considering installing solar panels or converting appliances from gas to electric, or seeking guidance on navigating the many incentives offered to homeowners looking to make energy upgrades, according to a summary report of June 11 meeting. <\p>
Acclaimed French restaurant in D.C. rolling out prix fixe menu
Michelin-honored French restaurant Petite Cerise is taking things up a notch.<\p> The acclaimed restaurant at 1027 Seventh St. NW is switching over to a prix fixe menu for dinner starting Tuesday. The spot near Mount Vernon Triangle was already on the Michelin Guide’s Bib Gourmand list, among other accolades, and it’s up for a RAMMY Award, too. <\p>
Dan Snyder lists the region's most expensive house ever sold
The most expensive home ever sold in Greater Washington is back on the market, and it would once again set a record if it sells for its staggering asking price.<\p> Dan and Tanya Snyder, former owners of the Washington Commanders who decamped for England roughly a year ago just before selling the franchise for $6.05 billion, are seeking $60 million for River View, a 16.5-acre estate in southeastern Fairfax County near George Washington’s Mount Vernon. <\p>
Fairfax bank taps Capital One exec to lead strategic business line
A Fairfax community bank with big growth ambitions has brought in another executive from a rival big bank to help it beef up its commercial lending business.<\p> The Freedom Bank of Virginia, with $1.1 billion in assets, announced Monday it has tapped former Capital One Financial Corp. banker Rob Dyson to lead its government contracting and information technology practice. <\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>
The Playbook: The disconnect on vacation is getting better
Editor's Note: Welcome to The Playbook Edition, a look at stories, trends and changes that could affect your business and career. Want more stories like this in your inbox? Sign up for The Playbook newsletter. <\p> While many organizations have embraced hybrid work, there’s a chance it may not be the best option for certain groups of workers. <\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>
Apartments across from Amazon's HQ2 sell for $114M
An aging high-rise across the street from Amazon.com Inc.’s HQ2 in Pentagon City recently changed hands for $113.5 million.<\p> An affiliate of New Rochelle, New York-based Goldfarb Properties acquired the 348-unit tower at 1201 S. Eads St. May 13, according to public records. The price works out to roughly $326,000 a unit.<\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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