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The Week in Real Estate

Every Friday, we round up the week's real-estate news and gossip.

• The District unveiled plans to redevelop St. Elizabeth’s east campus, a 173-acre piece of land in Ward 8. The massive project, which will be submitted to the City Council next month, would include 2 million square feet of new mixed-use projects and 750,000 square feet of renovated historic space. [DC Mud]

• Here’s a rendering for a new affordable housing project in the U Street corridor. Along Temperance Ave. between 12th and 13th streets, Northwest, the project would be less than a block from the U Street Metro stop. [DC Metrocentric]

• Washington area foreclosures are up 147 percent from a year ago. Wow. [WBJ]

•2501 Pennsylvania Avenue, a swanky new condo building in the West End, held its official opening this week.  [Open House]

• Plans were approved for a new 13-story mixed-use building in downtown Silver Spring.  In addition to retail and office space, the project will feature an “arts plaza” with several three-dimensional sculptures. [DC Mud]

• A report from Pricewaterhouse Coopers and the Urban Land Institute predicts that the commercial real estate market will hit bottom in 2009, and continue to drag throughout 2010. [WBJ]

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