by Nate Ward
on Saturday, June 29th, 2019 at 6:51am.
Of late, the District of Columbia has seen the development of an all-but-countless number of condominiums and it appears this trend will continue. Interestingly, Washington DC’s borders remain within what was once a 100-square-mile diamond. Now as more and more people want to live here, it stands to reason that the demand for multi-family dwellings--such as condos--will increase.
Additionally, the District’s long-standing restrictions on how tall and wide buildings can be built means an increased number of individual developments--that just keep coming. Unsurprisingly for anyone who has kept up with DC’s real estate trends--or any urban market for that matter--the most sought after condos are situated on or near the water.
Here are the three condominiums that are turning the most heads, causing the most second looks, the most clicked, &c. in Washington DC.
Unless you’ve been living under a river rock, you’ve probably at least heard whispers about The Wharf. The brains behind this epic mixed-use development very wisely broke construction up into separate phases. While Phase Two is projected to open in 2022, Phase One opened in 2017 and has been attracting droves of visitors and new residents with ease.
Residentially, new development that is drawing the most attention of late is Peninsula 88. Standing on Buzzards Point Peninsula at 88 V Street SW—at the convergence of the Potomac and Anacostia Rivers, no less—Peninsula 88 is an 8-story, 110-unit condominium with nigh unbeatable views. This building will feature exquisite finishes and numerous tantalizing amenities including a fitness center, balconies aplenty, and a rooftop terrace with grills and fire-pits.
Peninsula 88 condos calls Southwest DC home. Once the District’s forgotten quadrant, the neighborhood of Southwest Waterfront is now arguably the hottest neighborhood in Washington DC. With the second phase of the Wharf slated to open shortly, home buyers can be confident that Southwest Waterfront will only be getting hotter.
The location of Peninsula 88 is a wonder. In addition to its relationship with the natural landscape, it is close, but not too close to The Wharf. This position also allows residents to take full advantage of Southwest Waterfront’s neighbor to the east: Capitol Riverfront.
Capitol Riverfront, as one can guess by its name, has likewise become quite a big deal in the past few years. Not only do residents and visitors embrace the waterfront like never before—thanks in large part to the addition of The Yards—it is home to the Washington Nationals and a slew of amazing shops and eateries.
For these reasons, developers have been capitalizing on the neighborhood’s popularity and putting up slick new condos. Among them, Velocity has become the most attractive to potential condo-dwellers in Capitol Riverfront. Standing 14 stories high at 1025 First Street SE, Velocity supports 200 units.
It is unsurprising that this building is in high demand, considering that beyond the interior features of its gorgeously appointed studio, one-bedroom, and two-bedroom units, Velocity is crowned by a rooftop pool with absurd views of the rivers and of downtown DC, and is also equipped with a fitness center and a cafe on the ground floor.
Built in 2009, Velocity made its mark in the early days of the Navy Yard/Capitol Riverfront renaissance and has the advantage of unwavering convenience. As the neighborhood has grown, and will continue to do, the hot new things will carve their niches nearby. At present, Velocity condos are situated within a few blocks of Navy Yard-Ballpark Metro Station (on the Green Line), two parks, Nationals Park, a score of places to eat and drink, and a Whole Foods Market.
In a city as steeped in history as Washington DC, it is fitting that conversions of gorgeous old buildings into condos are so popular. One of the cleverest and best-executed condo conversions in the District is The Car Barn.
Stretching its limbs over an entire square block, The Car Barn was originally purposed for the housing, repair, and administration of streetcars. In the early 2000s, after 40 years of vacancy, new life was breathed into this gorgeous red-brick structure, resulting in nearly 150 homes. Most of these are two-story units that feature balconies and vaulted ceilings. The Car Barn community shares a secure parking garage, a large interior courtyard, and a swimming pool.
At 1400 East Capitol Street NE, this condominium blends superbly into the surrounding neighborhood of Capitol Hill, which many will know as an elegant, tasteful, and lush part of the District. Only a block away, residents enjoy the well-loved Lincoln Park and further strolling brings them to Eastern Market and the impressively eclectic offerings that line Pennsylvania Avenue SE.
It can be difficult to predict the future of any real estate market. With regard to these three condos however, the time to buy is now. Not only are attractions like the Wharf making Southwest and Southeast DC incredibly desirable, but the establishment of Amazon’s HQ2 in Arlington is going to mean big things for housing near the water. When many of the company’s 25,000 local employees begin seeking upscale living in these faster-paced and culturally vibrant DC neighborhoods, you’re going to want to be the one holding the keys.