Roadside Development the Neam’s Buyer

Neam's Market Marvelous Market

Last month, Joe Sternlieb of the BID announced that the Neam family was under contract to sell the old Neam’s Market building (which was more recently the Marvelous Market). He had no idea who the buyer is, though. The Georgetowner, however, did find out and identified the party: Roadside Development.

Roadside Development is a DC-based developer known for working with historic properties. Most recently, they brought the O Street market back to life as a Giant grocery store, with hundreds of condos. They’ve been selected to develop several other lots adjacent to the market, giving it an opportunity to put a huge imprint on the ultra hip Shaw neighborhood.

But a project that Georgetowners would probably hope to see paralleled with the Neam’s building is Roadside Development’s purchase of Frager’s Hardware on Capitol Hill. To say this store is beloved is a gross understatement. So when it burned down June 2013, the neighborhood’s heart was crushed. But like Eastern Market before it, Frager’s will be rebuilt. And Roadside is who will be doing the rebuilding. The developer purchased the property in August and will rebuild it for the hardware store and lease it back. To make the deal profitable to Roadside, some undetermined number of condo units will also be built.

Richard Lake of Roadside told the Georgetowner that he did not know what they planned to do with the property once the deal goes through. And that probably means a lot more wait for some life to return to that corner. If Frager’s is the model for the Neam’s building, expect some attempt at new construction, perhaps on the parking lot?

Either way, look at it this way: if Capitol Hill can trust Frager’s to them, Georgetown probably should feel comfortable with the old Neam’s Market in Roadside’s hands. At the very least, it’s not a bank.


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One response to “Roadside Development the Neam’s Buyer

  1. Pingback: Rumors | The Georgetown Metropolitan

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