Within the real estate industry, especially in commercial real estate, many projects are discussed, proposed, and negotiated for months or even years. There is usually a lot of time that passes before the end consumer (yes, that is you reading this) actually sees a shovel or a crane cracking open the ground. While some of these projects are purely residential, some are government-owned, and others mixed-use. Regardless of their orientation, they all play a role in reshaping and evolving the cultural landscape of the nation’s capital.
And so, just in case you have been living under a rock, take a look at some of D.C’s newest projects that have already broke ground.
Equity Residential is now the final stages of their apartment community located in the Mount Vernon Triangle on 455 I Street NW. This $57 million residential project will have 2,800 square feet of retail and 176 units, comprised of studio, one and two-bedroom apartments that range in price from $2,020 to $3,575+. The first move-ins are scheduled for June 2017.
To see more about these apartments visit: www.equityapartments.com
The Holiday Inn in Glover Park closed in 2015 and its landowners, The Donohoe Companies, still had offices on the site through 2016. Almost a year ago, JBG and Donohoe entered an agreement to purchase Donohoe’s leasehold interest and bring “The Glover House” to life.
This JBG mixed-use project will be an eight-story building with 226 one-floor apartments and additional two-level townhouse apartments. A major selling point for this property is that over 50 percent of the units will be two, three, and even four bedroom units. Other amenities include private terraces, floor-to-ceiling windows, lounges, underground parking and a rooftop pool with views of the monuments. On the ground floor of the building, there will be 15,000 square feet of retail space for a specialty grocer, as well as an additional 5,000 square feet for anything else that might be proposed. Greenberg has yet to confirm, but Washington Business Journal’s Rebecca Cooper reported in February that a Trader Joe’s could be a possible fit for the location.
The Glover House plans to deliver by mid-2019.
The following photos are renderings of the repurposed Holiday Inn on Wisconsin Avenue in Glover Park, produced by JBG Companies.
3.) Frager’s Redevelopment, Capitol Hill (Under Construction)
Almost four years ago, an unexpected fire burnt out a community staple in Capitol Hill at Frager’s Hardware, located at 1101-1117 Pennsylvania Ave SE. Back in October 2015, Perseus Realty partnered with Javelin19 Investments to shell out 5.7 million dollars to acquire a hefty slice of property located on Pennsylvania Ave SE in the historic Capitol Hill District.
Since then, the development team led by Perseus Realty, in partnership with Westbrook Partners and Javelin 19, has broke ground on the site that has been planned for a mixed-use project. The redevelopment will bring back and restore Frager’s Hardware in its original position, though, the adjacent building will feature one, two, and three bedroom condominiums.
The new building, designed by Hickok Cole Architects, is set to deliver in early 2019.
Keep following us for more updates on these projects!