Headlines: Cultural hub coming to U Street? Cost of FHA loan to drop
Here's a look at what's happening in real estate in and around the District of Columbia.
Under the proposal, the former Grimke School would be transformed into a cultural hub. In addition to creating a permanent space for the African-American Civil War museum, the building would be home to several performance groups, including Step Afrika!, CityDance, Dance USA and Imagination Stage. -Washington Post
The median price of a house or condo that sold in the Washington region in 2014 was $405,750, up just 1.4 percent from 2013, but just 2.2 percent shy of the 2007 peak price of $415,000, according to listing service MRIS' RealEstate Business Intelligence Report. -Washington Business Journal
On Feb. 3, 2014, two developers struck a deal that seemed poised to resolve a longstanding conflict and bring U Street NW-area neighbors what they desired: a mixed-use development with a Harris Teeter supermarket on what's currently a vacant lot. Nearly a year later, all of that is still up in the air. -Washington City Paper
Groundbreaking is expected to begin this week for the 365-unit residential project in Waterfront. This project is the third phase in the Waterfront Station project that is completely revitalizing the neighborhood with more than 80,000-square-feet in retail, more than 500,000-square-feet in office space, and hundreds of residential units along 4th Street. -Curbed DC
The site is part of the agency’s Know Before You Owe campaign and includes interactive tools aimed at creating more informed and empowered homebuyers. -Urban Turf
For the typical FHA applicant, the reduction in premiums means a savings of about $80 on their monthly payment, according to CoreLogic's chief economist, Sam Khater. -CNBC