After Withdrawing Multifamily Plans, JBG Looks To Sell Wardman Park Hotel
The JBG Cos had ambitious plans for the Wardman Park Hotel, but now it appears likely the developer will sell the property.
The Chevy Chase-based developer withdrew its proposal to demolish the 98-year-old hotel in Woodley Park and replace it with nearly 1,300 units. Instead, it plans to put the property on the market, the Washington Business Journal reports.
JBG still plans to go forward with a planned 119-unit residential building adjacent to the hotel, which would have been the first phase of the major development. It will likely modify the plan to reduce the building's height and won't begin construction until at least 2018. The second phase would have replaced the hotel, which JBG bought in 2005 for $300M, with four apartment buildings of eight to 14 stories.
Ultimately, the scale of the development proved too much for the neighbors, who came out in strong opposition to the proposal. [WBJ]