Comments on: Howto: Buying In The PQ

By: dave

dave — Thu, 05 Apr 2007 15:44:00 +0000

In this year, I think would-be buyers have the luxury to rent a condo (if there are rentals available) and check out a building before having to buy. That way, you can get more information about the type of condo you are living in.

We have one such success story at our boutique condo. A couple renting loved 6th Street Flats so much that they bought the unit next door!

I get a sense that there are PQ landlords who would just as soon sell their units than rent them out.

Ultimately, you are buying into a mini-community. Sunlight and design layout is great, but the culture of your condominium community is also very important. This year, you may have an opportunity to get inside info on your would-be neighbors that you wouldn't otherwise.

By: Clara Barton Dweller

Clara Barton Dweller — Wed, 04 Apr 2007 22:04:00 +0000

One thing I would specifically look at when deciding among condo buildings here is how much the condo has in its reserve fund. The buildings are mostly only a few years old, so they haven’t had that long to build up reserves, but the more the better, obviously.

I was very concerned about that issue, b/c the condo fees around here are already generally quite high, and I was afraid of them going up further or having to pay special assessments.

By: Carmen

Carmen — Mon, 02 Apr 2007 23:29:00 +0000

Um, the neighborhood that now calls itself Logan used to be Shaw. Things change.

By: Anonymous

Anonymous — Mon, 02 Apr 2007 14:55:00 +0000

anon at 11:17 p.m. You should look into renting an efficiency/studio apartment but even that will probably be a stretch on $60,000 combined income. Otherwise, you’re out of luck unless you have significant investment income.

By: Anonymous

Anonymous — Mon, 02 Apr 2007 03:07:00 +0000

hi DC!
My husband and I make just over $60,000 combined income annually. Is there a place we can move in at the PQ. We want to have children and send them to a local school.
hurray DC!

By: pqresident

pqresident — Sun, 01 Apr 2007 12:58:00 +0000

before April ’05, this area was also called the Penn Quarter. the Pennsylvania Avenue Development Corporation was founded in 1972. the first PQ condos were built in 1990 and 1991. the name has been around a while. before 1972, I have no idea.

cityliving – I went to Insomnia numerous times and it was two things…(a) a fire trap and (b) the best dance club in the city. clubbers now have to go to Fur off North Capitol Street to get their groove on.

By: Alen Duberstein

Alen Duberstein — Sun, 01 Apr 2007 12:01:00 +0000

Before 2 years ago(April ’05), what was this area called? What was it called when it was a racially divided city?

By: CityLiving

CityLiving — Sat, 31 Mar 2007 23:36:00 +0000

As to boundaries, in April 2005, the Penn Quarter Association board defined them as:

15th on the west to NY Ave, then around Mt. Vernon Square to Mass Ave to the freeway on the east, then just over a one block stretch on Constitution Ave to Pennsylvania Ave up to 15th.

Some Realtors put the wrong zip code for their listings into the Multiple Listing Service (oops!) and places like Columbia Heights finds itself in one of our zip codes. Welcome to the Penn Quarter, Columbia Heightians!

You're right on about checking out your potential new surroundings during the day and night (often overlooked by potential buyers), but this only works under normal circumstances.

When areas are in transition, you have to use your imagination about what that area will come to be. I live at the Cosmopolitan on 6th St NW and when I put my contract on the place in 2003, it was only a hole in the ground.

There was a warehouse across the street with a nightclub in it (Insomnia) and a historical building next to us, 717 6th St, was vacant. We were told by our sales person that an "upscale restaurant" was going into this space. Unfortunately, Coyote Ugly never quite made it. Maybe it had something to do with there being no food. Coyote Ugly, we hardly knew ye.

There was also a parking lot where 777 6th St is now being built. There wasn't a lot of foot traffic on 6th Street unless there was an event at the MCI Center, and even then it was only before and after an event. The point is, in 2003 you had to have faith that this street was going to become something different.

Look at the condos developments under development nearby, such as the Yale Steam Laundry and City Vistas. When they're finished what will it be like around those developments? The answer is, use your imagination. What it is now and what it will be a fews years later will be quite different. Hanging around during the day and after dark now will be of little use to you.

Finally, yes, there are a number of Realtors who "specialize" in the Penn Quarter, but how many of them actually live here? I get regular mailings from a Realtor based in Maryland. Sorry, but there's more to "specializing" in an area than pulling up listings or selling an occasional unit. Live here and affiliate with a broker in the city.

I love this city!

By: Anonymous

Anonymous — Sat, 31 Mar 2007 22:31:00 +0000

Thanks for the valuable tips. As a newcomer to the area and causally looking to purchase, this is quite helpful. Of course, this is also why we decided to rent in the area first, to check out pros and cons.

Valuable tips are always appreciated from the locals.