The Georgetown Metropolitan

Google has updated its popular Google Streetview feature with new photos for Georgetown. Now when you zoom in you’re given photos from early 2014.

You may remember the last update which was only in early 2013. There was a decent delay between the collection of the photos and the publishing. The photos loaded at that point were from 2011. They seem to be quicker in the updates seeing as there’s only a 6 month lag or so from the collection to the publication.

This update does bring a bit of sadness to GM though. The last generation of photos included a shot of GM walking down the street. Now his image is gone. Like sands through an hour glass…

Photo by Ron Cogswell.

Good morning Georgetown, here’s the latest:

• Long awaited renovations started on old Georgetown theater.
• Conflict on the waterfront between free speech and senses of entitlement.

3200 block of Volta Pl.

Over the weekend, parts of Georgetown were hit with a particularly political flavored graffiti. Above you see the Opening statement written by the old Marvelous Market parking lot: “This is Class War”. It’s truly an enigmatic missive. Is the demise of Marvelous Market class war? The closed parking lot? The off-white shade of paint on the wall? Continue reading →

Photo by Elise Garofalo.

Good morning Georgetown, here’s the latest:

• GM’s noticed this too: Art galleries returning to Georgetown. (GM just hopes one swoops in to take over the now vacant Darrell Dean space instead of Quiznos).
• Jack the Bulldog, MD.

3400 block of N St.

So the Washington Post revealed yesterday that the purchaser of the Georgetown Park mall is none other than Jamestown Properties. This is very interesting.

Why? Well while the Post identifies Jamestown as “an Atlanta firm” the company already has a footprint (and an office) in Georgetown. In fact their office is just up the block. And what’s particularly interesting about Jamestown is that they often cooperate with Anthony Lanier’s Eastbanc. For instance, they teamed up to build and sell 1055 High, the new condo along the canal (catty corner to the mall). Additionally, Jamestown actually owns a good chunk of Cady’s Alley. The have a similar vision as to what the retail and residential mix of Georgetown ought to be. Continue reading →

Photo by Ehpien.

Good morning Georgetown, here’s the latest:

• That indeed is a sweet ride.
• MPD Chief Lanier heading to the next Q&A Cafe.

1500 block of 33rd St.

As reported by the Washington Business Journal, the Georgetown Park Mall has been sold. WBJ pegs the sale price at $272.5 million, which is a significant surplus over the $61 million that Angelo Gordon and Vornado paid for it four years ago.

This comes as no surprise. The property was publicly put up for sale last spring. And even before that announcement, this strategy was fairly obvious. As GM wrote all the way back in 2011:

GM predicts that all they want to do is gut the property, put in three or four large tenants (whoever they can sign, GM doubts they care much) and turn around and sell it. It would come as no surprise that they’re not interested in the long haul seeing as they’re simply acting as an agent for the mall’s actual owner: Angelo, Gordon & Co. This firm specializes in distressed properties, an investment strategy that normally involves buying a property cheap, tarting it up and turning around and selling it for quick buck.

That prediction has come true pretty much to a “t”. Continue reading →