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The Week in Real Estate

A round-up of real-estate news and gossip.

• Renovation of the Georgetown Neighborhood Library, which suffered a fire that affected its roof and second floor in 2007, is under way. The library is scheduled to reopen in the fall of 2010. [DCist]

• Developers and the city government are tangled in a battle over property assessment, as the latter pushes for power to contest assessment decisions made by the Board of Real Property Assessments and Appeals. [WBJ]

• DC’s Department of Housing and Community Development will hold a foreclosure-prevention clinic at Israel Baptist Church next Saturday. The clinic will feature presentations on avoiding foreclosure scams, and a team of counselors will be on hand to dispense advise on foreclosure prevention. [Urban Turf]

• Commercial construction across the nation was down 71 percent for the month of June, according to Associated General Contractors of America. A stark contrast from May, which saw gains of more than 20 percent. [WBJ]

• The Watergate complex was auctioned off to PB Capital, which agreed to pay $25 million for the property. [DCMetrocentric]

• Speaking of the Watergate, Housing Complex took a look at the state of its shopping area and found cracked walkways, stained windows, and—ready for it?—a creepy statue appearing “to be a cross between Michael Jackson, Ronald McDonald, and an albino person.” [Housing Complex]

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