Over the past several years, the northeast corner of Broad St. and Washington Ave. has been the subject of endless speculation, seen several proposed but never developed projects, and been home to a giant pinata. Four years ago, Rimas Properties, developers of the 1352 Lofts, purchased the 4.5 acre lot for $16.5M and intended to develop a massive residential and retail complex on this corner. Splat Productions produced some renderings.

Looks like Vegas

If you’ve been in that neck of the woods lately, you know it still looks like this (photo courtesy of Laura Blanchard):

Still barren

Maybe a year and a half after Rimas purchased the property, the lender took the property, and it hasn’t looked much different since. Last week, Hidden City reported on rumors that Wal-Mart could have interest in this parcel, and is considering a deal to build a downtown Wal-Mart, potentially as part of a larger, mixed-use project.

We’re hearing something a little different. We’ve gotten word that Dranoff Properties is deep in negotiations for the parcel. No one over there is willing to confirm this (understandably), but we’ve heard from three different sources that this thing is looking like it might just happen. If it does, expect a large, mixed-use project with residential units and some large retail tenants. As far as retail goes, other whispers are that Wal-Mart had been involved in discussions about this corner, but a more mainstream supermarket looks to be the likelier choice. We’re hearing maybe a Superfresh, a Genuardi’s or a Giant. Whoa.

Very interesting stuff, on this fine Sunday.

Verrrrry Interesting indeed

Yes, it’s a Laugh In reference. What do you want from us? It’s the weekend!