A developer specializing in building upscale apartment buildings has purchased the building at 2009 8th St., N.W., which is the current home of the popular gay nightclub Town Danceboutique, according to the Washington Business Journal.
The publication says deed records show that the Jefferson Apartment Group paid $25 million for four parcels of land between V Street and Florida Avenue, N.W., that includes the Town building and an adjacent parking lot.
It says another real estate development firm, Bristol Capital Corp. of Bethesda, Md., sold the building and surrounding land to the Jefferson Group after it bought the properties in 2004 for $7 million. The steep appreciation in the value of the property was said to be a sign of how a once warehouse and industrial section of the city along Florida Avenue is rapidly being transformed into a sought-after residential and entertainment enclave.
Town released a statement on Wednesday that says the club will remain open for “years to come.” The statement reads:
“Since 2007, Town Danceboutique has operated in the Shaw neighborhood at 2009 8th Street NW. In that time, and after considerable investments in our neighborhood by many people including ourselves, Shaw is now one of Washington’s most thriving and desirable parts of the city.
“Understandably, because of that popularity, there has been an interest in the real estate that Town currently occupies. In fact, the building has been sold in previous years and we have had multiple landlords since we have been in operation. Now, the building has been sold once again. This sale was not a surprise to us and we have a great relationship with our new landlord who is excited to have us as their tenant. We also enjoy solid lease terms and we intend and fully expect to be throwing parties in our current location for years to come.”
Representatives of Jefferson Apartment Group declined to comment, and its intentions for the site are unknown, the Washington Business Journal reports. But the Journal says the development company typically develops apartment buildings with retail shops on the ground floor on the land it acquires.
News of the sale of the Town building comes less than a year after the owner of the building in which the gay nightclub Ziegfeld’s-Secrets is located, in the city’s Buzzard’s Point section, sold that building to a developer. The sale followed approval by the city of the construction of a new soccer stadium across the street from the Ziegfeld’s-Secrets building.
Ziegfeld’s-Secrets owner Alan Carroll has said the developer that bought the building doesn’t expect to displace or evict his club for four or five years since the property is not on the footprint of the soccer stadium.