It’s been a great year for real estate in DC so far. There’s plenty of new residential construction and lots of property sales.
From October 2012 to July 2013, the District issued permits for 3,328 housing units. When the numbers for the entire fiscal year are in, it will likely surpass the 4,091 permits issued in 2012, which was an increase over the 2,459 issued in 2011. These are both significant improvements over the 499 building permits issued in 2009.
Most of the permits are for construction of DC apartments. AvalonBay Communities, Inc. recently received permits for a 436-unit apartment building at 55 M Street in Northeast. This is an addition to an existing apartment building at 1160 First Street, NE in NoMa called Archstone First and M. The
The Exchange at Potomac Yard in Alexandria just began construction a couple months ago, after seven years in the planning stages, D.C. Curbed reports. This first residential building at the Exchange at Potomac Yard will be The Arlic, a 323-unit apartment building that should be complete in late 2014.
A Potomac Yard Metro stop near the Exchange at Potomac Yard is also on the horizon, with development
MRP Realty and JBG are developing The Exchange at Potomac Yard to include 2 million square feet of mixed-used development just north of Old Town. Rendering of the Arlic at the Exchange at Potomac Yard depict a modern, roughly six-story building. A second residential site could break ground before the end of the year on the 14-acre property.
With baseball season in full swing, house and apartment hunters may find that apartments near the Nationals Stadium can offer an exciting living location, although the area’s retail, restaurant and nightlife sectors are still blossoming.
Camden South Capitol is among the more newer housing options, offering a slate of amenities and brand new living quarters. And Camden South Capitol apartment rates are a bit more affordable than in other parts of the District, like U Street and Adams Morgan, because this area hasn’t hit the “hip to live here” stride yet. Still, the Southwest waterfront community has much to boast about now and will likely be a burgeoning place in the near future.
Camden South Capitol, at 1345 S. Capitol Street near the Navy Yard Metro
Takoma Theatre Apartments is a project that has proposed restoration and adaptive reuse of the historic Takoma Theatre at 6833 4th Street in Northwest DC. The plan calls for apartment homes with ground-level flex space.
The original Takoma Theatre was built to show movies, but also included a community forum, two stores, and a suite of offices. The two-story brick building was completed in 1923 at a cost of $60,000. In 1929, the Takoma Theatre became one of the first neighborhood theatres to show movies with sound. The theatre was acquired by Warner Brothers in 1935, but closed in 1980. The theatre reopened as a live performance venue in 1983, but closed again in 2002.
With the new proposal, various parts of the original Takoma Theatre will remain to
Capitol Riverfront development will continue since the DC Council recently approved funding to move DC Water facilities out of their current location at 1st and O Streets in Southeast DC. Mayor Vincent Gray proposed $9 million for the project, while the Economic Development Committee of the DC Council recommended $1 million. But the final vote allocates $6 million to DC Water relocation in 2014.
After DC Water moves out of its prime location near the Capitol Riverfront, Forest City Washington will redevelop the property as part of The Yards. Forest City Washington has had their eye on the DC Water site since they started negotiations for the land in 2006. The plan for those 4 acres is to expand The Yards with 400 residential units and retail.
Shaw development, like in many parts of the District these days, is going full steam ahead. Here, Shaw development is especially welcome by residents who are very eager for revitalization in their community, which has been dilapidating since its heyday in the late 19th and 20th centuries.
The 7th Flats at Progression Place is among the newer apartment projects in the pipeline of Shaw development. This part of a mixed-use development of about 100,000 square feet, including about 205 apartments and 20,000 square feet of retail space. These were supposedly going to be available this sometime this spring, but its website gives no indication the units are ready for tenants just yet.
Shaw is billed as a more afford able option to nearby Adams Morgan or
Capitol View on 14th Street is among the bevy of new apartment buildings in the U Street Corridor lately, and the building have been leasing up and tenants have been moving in since last fall. The Capital View on 14th Street apartments include about 255 units, renting for between $1,881 and $5,856 for units ranging from between 580 square feet to 1,601 square feet, although the lowest priced model now listed on their website is for $2,106 for a 512-square-foot apartment.
Among the amenities at Capitol View at 14th Street are a rooftop deck and pool with a year-round fireplace and a state-of-the-art fitness center and media center/business room. The Capitol View at 14th Street building aims for a luxury feel with a Chihuly sculpture in the lobby and
Developers of the Gateway Market Center and Residences, the Union Market-area residential project, have recently made some changes to their plans, removing the office space component and adding more units, including the option for a hotel, the Washington Business Journal reports.
The Gateway Market Center and Residences project, developed by Edens Realty and Sang Oh Choi, will span 44-acres on Florida Avenue in a redevelopment project over the next 10 years.
This particular Gateway Market Center and Residences project is the introductory development, with about 170 to 216 planned residential units and about 27,500 square feet of retail. Developers are asking for the option to convert the residential component into a hotel, depending on market
14W Apartments recently started accepting renters into the building after a leasing period that started in February. The 14W apartments are 231 apartments located in a seven-story building at 14 Street and W Street NW, near the U Street corridor.
The 14W apartments are billed as “luxurious modern living in the hottest new community in the District,” as they’re close to Adams Morgan, Logan Circle and Columbia Heights as well as the U Street Corridor. The 14W apartments have a rooftop terrace, a fitness and yoga studio, a game room and clubroom and business center. The units have stainless steel appliances and other higher-end finishes like wide-plank flooring and quartz countertops, according to Simpson Property’s website.
The District is a new residential development at 14th and S Streets in Northwest Washington, DC. The location is on the border of the Logan Circle, Dupont Circle, and U Street Corridor neighborhoods, just three blocks from the U Street Metro station. It is also the site of the former Whitman-Walker Clinic, a historic building that will be integrated into the project.
The original project was called District Condos with a plan to sell condominium units. But in November 2011, the developer opted to create boutique rental apartments instead, and change the project name to the District.
The District is a seven-story mixed-use building with a glass and brick facade by The JBG Companies and Grosvenor. The ground floor will feature 18,800 square feet of
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