DC DEVELOPMENT(S): PARKSIDE IN WARD 7

devcityinterest

DC might get overshadowed by the go, go, go and bright lights of New York, or outshined by the contenders on the West Coast. Heck, the Windy City might even think they can blow by use now and again — but make no mistake: we are a big, happening city. And with big city britches, come big responsibilities – jobs to source, people to entertain, mouths to feed, developments to pursue. A lot of the times, on DC Development(s), I touch base on small projects dotted around the metro area – this post, though, is an exception. Because sometimes, big cities have big developments, and this, my friends, is one of them. The development has been deemed by BisNow as one of the “largest planned” in the DC area, CityInterests’ Parkside development in Ward 7.

So, to digest that jargon little by little, let’s start with the basics. Whodunnit? Or rather, who is going to do it? The culprit this time is CityInterests, a real-estate development firm based in the city that focuses on mixed-use and transit oriented development., asset management, and general real estate acquisition. Some past projects they have under their belt include the Mandarin Oriental Hotel, Educare, The Standard Eleven Condominiums, Old Beacon Street Condominiums, Victory Square at Parkside, Fort Davis Shopping Center, and more.

This time, they are up to more of the same: developments on a large scale. Recently, the Zoning Commission approved two seven-story multifamily buildings for a site that the Development firmed purchased back in 2004. Sitting near Minnesota Avenue, this development has been long in the works and the plans have never stopped at residential units. After breaking ground in 2007, the site has already come to include a multifamily building, a senior affordable housing building, a primary health center, early childhood learning center, 100 townhouses, one-acre park, and the Caesar Chavez Public Charter School – but the work is far from over.

In the end, Parkside will be complete with 3.1 M SF of development in total, featuring 1,500 housing units, 750 SF of office area, and 50K SF of retail. With newfound approval of multifamily buildings in hand, the company will break ground on those in 2018, followed by more condos, office space, and retail that same year. Looking even further in 2019, there will be even more multifamily buildings added.

Speaking to BisNow, Peter Farrell, a partner at CityInterests, commented on the exciting potential of the project:

“It’s going to be an urban-suburban environment. You’ve got a nice blend of high quality of life on the back two-thirds and the commercial vibrancy you want and need to support retail and create jobs and other aspects for Ward 7 that are really important to placemaking.”

Ward 7, which is by nature diverse – feating everything from wooded streets to small town character to single family homes to exciting developments such as this, is a bustling example of DC’s uncapped potential.  I can’t deny it — DC, you just keep getting better.

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