Real estate investment and development firm Monday Properties has announced that it may soon be revisiting plans to redevelop the site at 1401 Wilson Blvd. and 1400 Key Blvd. in Arlington — the site where the “Deep Throat garage” currently stands.
Passersby may not notice the significance of that parking garage if not for the historical marker outside. That marker identifies it as the site where Washington Post journalist Bob Woodward met with the undercover source known as Deep Throat (later identified as former deputy FBI director Mark Felt) while investigating the Watergate scandal. The investigative reports from Woodward and Carl Bernstein uncovered significant details in the scandal that eventually led to President Richard Nixon’s investigation.
The lot in question, spanning 2.1 acres in Rosslyn, has been slated for redevelopment for over a decade, The Washington Business Journal reports, and the plans have been pushed back several times.
Now, Monday Properties says it has recapitalized the site with financing from BH3 Management. With that recapitalization, “this is an ideal moment to revisit our development program,” said Tim Helmig, managing partner at Monday Properties.
“We’re committed to creating a transformative project that maximizes value for the neighborhood while setting a new standard for urban excellence, and the financing from BH3 means we are now poised to move this project forward,” Helmig said.
Monday Properties has plans to collaborate with Arlington County and community stakeholders to explore potential amendments to the site plan to make sure it aligns with the community needs today.
Feature image of Deep Throat garage courtesy Ser Amantio di Nicolao/ Wikimedia Commons
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