1333 M St. SE
2-Year Extension Approved for 1333 M Project
Felice Development has won approval for a two-year extension of the approved PUD for the 1333 M Street mixed-use project. Per this approval building permits would be filed no later than April 23, 2025, with construction to commence no later than April 23, 2026. According to the filing the pandemic’s adverse impact on retail activity plus the high cost of construction, labor, and materials along with rising interest rates, have rendered the current economics of the project challenging. The development team does state they are "diligently pursuing additional financing platforms to the capital stack to overcome these increased development costs."