Here is some welcome Northwest One news from the Washington Business Journal:
D.C. delivers $17M grant for 2 M St. NE
Washington Business Journal – by Michael Neibauer
Date: Monday, August 8, 2011, 2:55pm EDT
The District will award $16.85 million to the developers of 2 M St. NE, the 314-unit apartment building that will be the first residential piece of Northwest One — the massive New Communities project splitting NoMa and Mount Vernon Triangle.
The grant, from the Housing Production Trust Fund, will subsidize the $82 million project`s 93 affordable units — 59 of which will be affordable to households at or below 30 percent area-median income and 34 affordable to households at 60 percent AMI. The developer is 2 M Street Redevelopment LLC, a joint venture of William C. Smith & Co. William C. Smith & Co. Latest from The Business Journals D.C. delivers M grant for 2 M St. NEGray: D.C. must reassess portfolioD.C. orders three businesses to leave Skyland Follow this company and the Warrenton Group.
The grant proposal was submitted to the D.C. Council on July 19 and deemed approved Aug. 1. But the grant money will not be conveyed until the development team closes on its financing. William C. Smith, the lead developer on Northwest One, is waiting on the U.S. Department of Housing and Urban Development to approve its $62 million application for mortgage insurance, the final step in the process.
An official with the developer said deal is expected to close soon, and D.C. officials expect a groundbreaking in September. The 2 M St. building will feature an on-site fitness center, pool and basketball court and 4,000 square feet of retail.
Read the remainder of this WBJ article here: http://www.bizjournals.com/washington/blog/2011/08/dc-delivers-17m-grant-for-2-m-st-ne.html
Bates Area Civic Association 
Good to hear this is finally happening, despite the less equitable affordability split than originally planed- this has been in the works for years. Unfortunately they already tore down at least one of the buildings displacing many people who had lived in the neighborhood for years.