According to todays Business Journal looks like the final building on the 700 block has been purchased. Joe Sun is selling their building for $3.46M...AND they are getting $2.46M to purchase the business itself. Sounds like a pretty good deal for Joe Sun. They held out for a better deal and it looks like they got it. They may even stay on K Street somewhere.
Also very good news is that while they would not comment on retailers until the leases are signed, they said it would be a mix of national and local business.
Everyone wants to see local business represented in this project, but with nationals in the mix attracting a larger range of people, I think there is a better chance of more smaller retail thriving on K Street. Target date for opening of retailers in still Oct of next year. It they are open by mid-Nov, I'll be happy.
It also mentions more details will be available next month for city council on the 800 block in which Saca, Mo Mohanna and John Lambeth are planning offices, condos and retail. Originally, there were two options for that block. Two towers of 600 condos/lofts, or one tower of 300 condos/lofts, and one tower of office space.
Given the slowing housing market, high constructions costs, and the surge in office leasing, I would think they will be looking more closely at the office and condo mix. Who knows though, the market might change again in the next few years that I assume this project could be completed. Being able to see into the future sure would help in these situation...ha
Having office space now, under construction or looking to breakgound at anytime that will be completed over the next couple of years looks good for you, who knows after that though.