The Capitol Hill staple Frager's Hardware is poised to return to its original location, more than two years after a massive fire damaged the structure.
The real estate deal, first reported by Urban Turf , will involve Frager's returning to its original location on Pennsylvania Avenue, between 11th and 12th streets Southeast. Adam Peters, executive vice president for Perseus Realty, confirmed the deal to HOH Wednesday morning, and said the revamped location will also include three to four levels of condominiums and retail locations, such as restaurants. In June 2013, the store that was a neighborhood fixture for more than 90 years was destroyed after a four-alarm fire engulfed the building . Since then, it has been operating out of a variety of temporary locations around Capitol Hill. The deal could come as a surprise to Capitol Hill residents since, in 2014, Frager's owner John Weintraub announced the store would not be returning to its original location due to high rebuilding costs.
But then, through its broker, Frager's connected with Perseus Realty. Over the past six months, the company has been working with the broker, and the owners of the hardware store have been working to craft an agreement to return to the original site.
Perseus Realty is a development company that is focused on District of Columbia properties, and completed similar projects in Adams Morgan and on 14th Street Northwest. Peters said the company is beginning the process of developing a concept plan for the redevelopment of the Frager's site, though he could not disclose costs for redevelopment.
"The general concept is to have a bunch of ground floor retail which will include Frager's coming back to the site," Peters said. He said the three to four levels of condos will amount to around 40 to 50 units.
The new space will be known as "1101 Pennsylvania," and Peters said the group is looking to do an upscale, sophisticated redevelopment, though the process is just beginning. Peters estimated the project could take three-and-a-half to four years to complete.
"We understand it's a process of reaching out to the community and working with the [Advisory Neighborhood Commissions] and working with the [Historic Preservation Review Board]," Peters said, "and we'll be kicking off the design process very soon"
The real estate deal will surely be welcome news to Capitol Hill residents who rallied around the neighborhood store, organizing a number of fundraisers after the fire.
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