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Helping transform city’s living landscape

Developer, Universal Gear owner Franco puts his passions to work

Published

14 years ago

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David Franco (Blade photo by Michael Key)

Last week was the anniversary of the 1968 riots in D.C., following the assassination of Dr. Martin Luther King, Jr., in Memphis. The ensuing five days of destruction that befell Washington and filled the sky with smoke scarred the city’s landscape for decades and cut a hole in the heart of commerce through the prominent local retail districts of the era.

Washington neighborhoods hollowed out by looting and fires are only now beginning to fully finish recovering as commercial and residential real estate development repurposes the remaining empty buildings and reconstructs many of the last vacant lots across a wide swath of the city. Nowhere has this transformation been more dramatic than along the 14th Street, N.W., commercial corridor, as it intersects with U Street and stretches northward into Columbia Heights.

It is in this area that long-time community entrepreneur and local businessman and real estate developer David Franco continues to have a significant impact on a still rapidly evolving landscape. Uppermost in his mind has been this guiding principle: “How can I impact the community by creating a positive environment and contribute effective change in a concentrated area?”

A Washington-area native and lifelong resident, Franco recalls his father vividly detailing the riots of 44 years ago. Now 47, he remembers the pride and gratitude in the recounting of customers driving to the family-owned clothing store in downtown Washington at 12th and G streets, now a Macy’s department store in the former Hecht’s building, to stand in front waving on potential looters. Appreciative of the years of dedicated customer service conveyed to generations of families, “not this place” they implored in defending the business. The store remained untouched throughout the extended melee of anger and frustration.

Franco grew up understanding firsthand the importance of providing attentive and personalized customer service and engendering this type of loyalty. He would later infuse his own business activities with building relationships in the marketplace. A strong sense of ethics, a spirit of community-mindedness and dedication to the client experience and product provided were to become the trademarks of his future endeavors.

Following a three-year stint at the University of Maryland where he studied architecture, business and urban affairs, Franco continued working with the family enterprise, a successful local chain of discount department stores, until 1989. It was then that he became one of the investors backing the management team at the iconic nightclub Tracks that would dominate the gay dance scene through the next decade. He also partnered with the group in opening Trumpets restaurant and lounge on the 17th Street dining and entertainment strip near Dupont Circle.

Soon after, during the April 1993 weekend of the national March on Washington for Lesbian, Gay and Bi Equal Rights and Liberation, Franco would launch a clothing and accessories store with then business partner and commercial interior designer Keith Clark.

Universal Gear, located above Trumpets in a street level retail space at the corner of 17th and Q streets, quickly skyrocketed in popularity, outfitting many a gay man casually attired for work, play or the gym. The store would soon expand into a second level, nearly doubling in size with a complete interior renovation and striking new layout.

Franco would later explore market opportunities with since discontinued stores in Atlanta and Chicago’s Boystown, as well as opening a thriving Manhattan store in the heart of Chelsea and another in Rehoboth Beach. Universal Gear is adding a second New York location early next month in the trendy Hell’s Kitchen midtown west neighborhood at 9th Avenue and 49th Street.

In tandem with his development activities in the 14th and U area and following his customer base eastward, the local Universal Gear relocated to 14th and P streets in November 2007, becoming an expansive new neighborhood retail anchor.

David Franco (Blade photo by Michael Key)

Franco had earlier discovered that his passion for architecture and urban planning would lead him to residential real estate development, first renovating and marketing a 12-unit condo building on Chapin Street in Columbia Heights with business partner Jeff Blum, with whom he co-founded Level 2 Development. Excited by the then-booming pre-recession housing market, they started looking around for additional opportunities and set their sights on developing a larger project.

A Scorpio, Franco admits to “loving a challenge.”

This led Franco and Blum to undertake one of the largest and most prominent residential development projects along 14th Street.

Located at Florida Avenue and standing as the gateway at the sloping incline into adjoining Columbia Heights, the massive View 14 building and its 185 rental units and 30,000 sq. ft. of ground floor retail space – replacing an auto repair garage and an unattractive array of satellite dishes and communication towers – became a harbinger and symbol of extensive change in the area. David calls one of the penthouse units with a south-facing pinnacle terrace overlooking the area home.

Construction cranes are once again jutting into the sky along the high-density thoroughfare. The outline of a large glass-clad apartment building across the street from View 14, originally designed by Level 2 and subsequently sold to another firm for construction following initial planning, is quickly progressing toward completion.

Level 2 Development will next begin construction of a 144-unit studio and one-bedroom apartment project on 14th Street at Wallach Place, only steps south of U Street. Groundbreaking for the yet to be named project, located at 1919 14th St., will signal the Level 2 duo’s next project in the District, undertaken in association with Keener-Squire Properties.

The long road to project approval was not an easy one, according to Franco. He compares the process to the infamously cumbersome regulatory obstacles experienced by restaurant and bar owners under the city’s liquor licensing regimen.

Acknowledging that some neighborhood residents are often skeptical regardless of the track record of a local business, he notes that an “overabundant sense of empowerment” by small numbers of frequently ill-informed neighborhood opponents of change and small citizens groups requires advance calculation of the substantial expense for both hard and soft costs related to project delays and extensive round-robin negotiations. This results in higher rental or sale prices and can endanger project viability.

Underscoring how challenging a place the District can be to conduct business, Franco longs for local entrepreneurs to be respected as shared stakeholders. He points out that better cooperation would yield greater benefits for all.

Franco does not hesitate to confirm that a new ethos has taken hold for housing construction and resident lifestyles in the most vibrant and developing areas of the city. “We’re betting the ranch on it,” he offers, describing a distinct consumer preference for smaller home environs with modern finishes and amenities designed for a diverse demography drawn to a life largely experienced outside the front door.

“That’s how we live now,” he adds, identifying retail stores and shops of all types, dining and entertainment destinations and social watering holes as current interactive magnets and contemporary gathering places. Franco points out that demand for such community spots will likely continue to outpace capacity as the area – already experiencing the city’s greatest growth and a dramatic recent double-digit percentage population increase – adds more than 3,000 new residents in the next year.

David Franco (Blade photo by Michael Key)

Despite the business hurdles and regulatory obstacles, Franco remains committed to pursuing additional projects and public/private partnerships with and in the city he loves and lives. Enlivened by the development process and passionate about the results is what continues to motivate and inspire his efforts to play an ongoing role in the creation of a livable and engaging urban environment.

Mark Lee is a local small business manager and long-time community business advocate. Reach him at [email protected].

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Autos

Revving up the holidays with auto-themed gifts

Lamps, mugs, headphones, and more for everyone on your list

Published

4 hours ago

on

November 23, 2025

By

Here’s how to shift your holidays into high gear.

Bentley Bottle Stopper

Pop your cork—in a good way—with a Bentley bottle stopper ($106), made of zinc alloy with chrome plating and rubber rings. The classy design is inspired by the automaker’s iconic “Flying B” mascot from 1930. 

Subaru Motorsports Counter Stool

Belly up to the bar with the Subaru Motorsports Counter Stool ($175). The 30-inch-tall metal chair—with padded vinyl cover and automaker logo—is lightweight and swivels 360 degrees. 

BMW Luxe Luggage 

You won’t have trouble spotting this chic khaki-green BMW M Boardcase ($307) at airport baggage carousels. The high-performance “M” logo is etched on the durable polycarbonate casing, as well as on the main compartment zipper and all four of the sturdy double wheels. Comes with recycled lining, along with laundry and shoe bags. 

Ford Yoga Gym Bag

The Ford Yoga Gym Bag ($15) has a wide handle and button strap to securely carry a yoga mat, as well as convenient pockets to stow water bottles and shoes. Made of black polyester, with reflective silver Ford logo. (Yoga mat not included.)

Kia Mini Lamp with Speaker/Sound

It doesn’t get much more Zen than a Kia Mini Lamp with Speaker and Sound Machine ($50). Made of bamboo, sturdy plastic and a fabric grill, the tiny wireless lamp has LED lighting with three settings. Pair with your phone to choose from eight soothing sounds: brook noise, bird chirp, forest bird, white bird, ocean wave, rainy day, wind and fireside.  

Lexus Green Pro Set

Practice makes perfect with the Lexus Green Pro Set ($257), a putting mat with “train-track markings” to help improve any golfer’s alignment. Lexus logo on the wood frame with automatic ball return. 

Lamborghini Wireless Headphones

Turn on, tune in, drop out—well, at least at the end of a hectic day—with these Lamborghini Wireless MW75 Headphones by Master & Dynamic ($901). Batteries last up to 32 hours or up to 28 hours in active noise-canceling mode. 

BMW Quatro Slim Travel Tumbler

The BMW Quatro Slim Travel Tumbler ($23) lives up to its name: sleek, smooth and scratch-resistant. Comes with leak-proof lid and non-spill design. 

Ford Vintage Mustang Ceramic Mug

Giddy-up each morning with the Ford Vintage Mustang Ceramic Mug ($29). With cool blue stripes, the 14-ounce mug features a silver handle and iconic pony emblem. 

My First Lamborghini by Clementoni

Proving it’s never too early to drive an exotic car, My First Lamborghini by Clementoni ($62) is for children ages two- to four-years old. Kids can activate the remote-control car by pressing the button on the roof or by using the remote. This Lambo certainly is less expensive than an entry-level Huracan, which starts at $250,000.  

Rolls-Royce Cameo 

For adults looking for their own pint-sized luxury ride, there’s the Rolls-Royce Cameo ($5,500). Touted as a piece of art rather than a toy, this miniature collectible is made from the same solid oak and polished aluminum used in a real Rolls. As with those cars, this one even has self-leveling wheel-center caps (which operate independently of the hubcaps so that the RR logo is always in the upright position). 

Maserati Notebook

For those of us who still love the art of writing, the Maserati MC20 Sketch Note ($11) is an elegant notebook with 48 sheets of high-quality paper. The front and back covers feature stylish sketches of the interior of a Maserati MC20 supercar and the Maserati logo. Comes with saddle-stitched binding using black thread. 

Dodge Demon Dog Collar

If your pooch is more Fluffy-kins and less the guard dog you sometimes need it to be, then there’s the Dodge Demon Seatbelt Buckle Dog Collar ($30). Made of steel and high-density polyester with a tiny seatbelt-buckle clasp, the collar is emblazoned with devilish Dodge Demon logos. 

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Real Estate

In real estate, it’s déjà vu all over again

1970s and ‘80s volatility led to creative financing options

Published

5 hours ago

on

November 23, 2025

By

In the 1970s and ‘80s, sellers used creative mortgage options to entice buyers. Some of those trends are appearing again now.

In the 1970s and 1980s, mortgage interest rates climbed into the double digits and peaked above 18%. With rates like that, you needed more than a steady job and a down payment to buy a home — you needed creative financing ideas. 

Today’s market challenges may look different, but the response has been surprisingly familiar: unusual financing methods are making a comeback, along with some new ones that didn’t exist decades ago. Here is a brief overview of the most popular tools from that era. 

Assumable Mortgages were available with FHA, VA, and USDA loans and, until 1982, even Conventional mortgages. They allowed a buyer to take over the seller’s existing mortgage, including its interest rate, rather than getting a brand-new loan, while compensating the seller for the difference between the assumed loan balance and the contract price.

Often, a seller played a substantial role in a purchase. With Seller Financing (Owner Carry) the seller became the bank, letting the buyer make payments directly to them instead of to a traditional lender.

One variation on Seller Financing was the Land Contract. The seller was still the lender, but the buyer made loan payments to the seller, who then paid his own mortgage and pocketed the difference. The buyer would receive equitable title (the right to use and occupy the property), while the seller kept the title or deed until the contract was paid off or the property sold.

With Wraparound Mortgages, the seller created a new, larger loan for the buyer that “wrapped” around the existing mortgage at an agreed-upon rate. The buyer would then pay the seller, who would continue making mortgage payments on the existing balance, collecting payments and pocketing the spread. Whether title conveyed to the buyer or remained with the seller was negotiated between the parties. 

Unlike an assumption, when buying a home Subject To an existing mortgage, the buyer took title to the property and agreed to pay the seller’s mortgage directly to the lender plus any equity to the seller; the mortgage stayed in the seller’s name. Now, most mortgages have a Due on Sale clause that prohibits this kind of transaction without the expressed consent of the lender. 

Rent-to-Own was also a popular way to get into a home. While a potential buyer rented a property, the seller would offer an option to purchase for a set amount to be exercised at a later date (lease option) or allow a portion of the rent collected to be considered as a downpayment once accrued (lease purchase).

Graduated Payment Mortgage (GPM) loans were authorized by the banking industry in the mid-1970s and Adjustable Rate Mortgages (ARM) surfaced in the early 1980s. Both featured low initial payments that gradually increased over time. 

With the GPM, although lower than market to start, the interest rate was fixed and payment increases were scheduled. A buyer could rely on the payment amount and save accordingly. 

ARMs, on the other hand, had interest rates that could change based on the market index, with less predictability and a higher risk of rate shocks, as we saw during the Great Recession from 2007-2009.

While mortgage rates today aren’t anywhere near the extremes of the 1980s, buyers still face a tough environment: higher prices, limited inventory, and stricter lending standards. That combination has pushed people to explore tried and true alternatives and add new ones. 

Assumable mortgages and ARMs are on the table again and seller financing is still worth exploring. Just last week, I overheard a colleague asking about a land contract.

Lenders are beginning to use Alternative Credit Evaluation indicators, like rental payment history or bank cash-flow analysis, to assess borrower strength when making mortgage loan decisions.

There are Shared Equity Programs, where companies or nonprofits contribute part of a down payment in exchange for a share of the home’s future appreciation. With Crowdfunding Platforms, investors pool money online to finance real estate purchases or developments.

Another unconventional idea being debated today is the 50-year mortgage, designed to help buyers manage high home prices. Such a mortgage would have a 50-year repayment term, rather than the standard 30 years, lowering monthly payments by stretching them over a longer period.

Supporters argue that a 50-year mortgage could make monthly payments significantly more affordable for first-time buyers who feel priced out of the market. Critics, however, warn that while the monthly payment may be lower, the lifetime interest cost would be much higher.

What ties the past and present together is necessity. As long as affordability remains strained, creative financing – old and new – will continue to shape the way real estate gets bought and sold. As with everything real estate, my question will always be, “What’s next?”


Valerie M. Blake is a licensed Associate Broker in D.C., Maryland, and Virginia with RLAH @properties. Call or text her at 202-246-8602, email her at [email protected] or follow her on Facebook at TheRealst8ofAffairs.

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Real Estate

Could lower rates, lagging condo sales lure buyers to the table?

With pandemic behind us, many are making moves

Published

6 days ago

on

November 17, 2025

By

Condo sellers may offer buyers incentives to purchase their home. (Photo by Grand Warszawski/Bigstock)

Before the interest rates shot up around 2022, many buyers were making moves due to a sense of confinement, a sudden need to work from home, desire for space of their own, or just a general desire to shake up their lives.  In large metro areas like NYC, DC, Boston, Chicago, Miami and other markets where rents could be above $2k-$3k, people did the math and started thinking, “I could take the $30,000 a year I spend in rent and put that in an investment somewhere.”  

Then rates went up, people started staying put and decided to nest in the new home where they had just received a near 3% interest rate.  For others, the higher rates and inflation meant that dollars were just stretching less than they used to.  

Now – it’s been five  years since the onset of the pandemic, people who bought four years ago may be feeling the “itch” to move again, and the rates have started dropping down closer to 5% from almost 7% a few years ago.  

This could be a good opportunity for first time buyers to get into the market.  Rents have not shown much of a downward trend. There may be some condo sellers who are ready to move up into a larger home, or they may be finding that the job they have had for the last several years has “squeezed all the juice out of the fruit” and want to start over in a new city.  

Let’s review how renting a home and buying can be very different experiences:

  • The monthly payment stays (mostly) the same.  P.I.T.I. – Principal, Interest, Taxes and Insurance – those are the four main components of a home payment.  The taxes and insurance can change, but not as much or as frequently as a rent payment. These also may depend on where you buy, and how simple or complex a condo building is.
  • Condo fees help pay for the amenities in the building, put money in the building’s reserve funds account (an account used for savings for capital improvement projects, maintenance, and upkeep or additions to amenities)
  • Condos have restrictions on rental types and usage – AirBnB and may not be an option, and there could be a wait list to rent.  Most condo associations and lenders don’t like to see more than 50% of a building rented out to non-owner occupants.  Why?  Owners tend to take better care of their own building. 
  • A homeowner needs to keep a short list of available plumbers, electricians, maintenance people, HVAC service providers, painters, etc.
  • Condo owners usually attend their condo association meetings or at least read the notices or minutes to keep abreast of planned maintenance in the building, usage of facilities, and rules and regulations.  

Moving from renting to homeownership can be well worth the investment of time and energy.  After living in a home for five years, a condo owner might decide to sell, and find that when they close out the contract and turn the keys over to the new owner, they have participated in a “forced savings plan” and frequently receive tens of thousands of dollars for their investment that might have otherwise gone into the hands of a landlord.  

In addition, condo sellers may offer buyers incentives to purchase their home, if a condo has been sitting on the market for some time. A seller could offer such items as:

  • A pre-paid home warranty on the major appliances or systems of the house for the first year or two – that way if something breaks, it might be covered under the warranty.
  • Closing cost incentives – some sellers will help a cash strapped buyer with their closing costs.  One fun “trick” realtors suggest can be offering above the sales price of the condo, with a credit BACK to the buyer toward their closing costs.  *there are caveats to this plan
  • Flexible closing dates – some buyers need to wait until a lease is finished.
  • A seller may have already had the home “pre-inspected” and leave a copy of the report for the buyer to see, to give them peace of mind that a 3rd party has already looked at the major appliances and systems in the house. 

If the idea of perpetual renting is getting old, ask a Realtor or a lender what they can do to help you get into investing your money today. There are lots of ways to invest, but one popular way to do so is to put it where your rent check would normally go. And like any kind of seedling, that investment will grow over time. 


Joseph Hudson is a referral agent with Metro Referrals. He can be reached at 703-587-0597 or [email protected].

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