447 Newton Being Renovated

447 Newton StreetWhile walking around the neighborhood this weekend I noticed that 447 Newton Street is being fixed up by a developer.

For those not familiar with this address, back on August 10, 2007, around 3 a.m. it was the site of a fire that gutted the structure and police classified as arson.

The new owner purchased the property from the bank and is hoping to have it completed for the fall market. I think this is a very positive sign. On the local level its encouraging that a shell of a building will soon be a livable home again.

On a larger scale, I’ve noticed a number of structures in the same state also beginning to be renovated in NW DC. I’m hopeful this indicates that the real estate market may be picking up a bit.

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