295-Unit Apartment Project Planned for the Southwest Waterfront

• May 12th 2015

by Lark Turner

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More apartments are coming to the Southwest Waterfront.

Perseus Realty and Urban Investment Partners (UIP), which bought Capitol Park Tower in 2013, are planning to build two new buildings on the site of the original building, which successfully received a tenant-pursued historic designation last year. UrbanTurf first learned of this project from Southwest Waterfront resident Chase Coard.

The existing Capitol Park Tower at 301 G Street SW (map) is nine stories high with 289 units. Perseus and UIP propose adding buildings to the north and east, one with seven stories and the other with four stories. Together the two buildings will have 295 rentals, ranging from studios to three-bedrooms, served by 310 underground parking spaces. About 24 of the building’s units will be designated affordable.

In a presentation attended by several current tenants and neighbors before ANC 6D on Monday night, Perseus’ Adam Peters said the development company had been at work upgrading the current building under a TOPA agreement. That hasn’t fully appeased some tenants, particularly the north-facing ones whose view will face the construction and a seven-story building by the time the project is completed.

But tenants will have access to the building’s new amenities, including two new rooftop pools, a landscaped courtyard and a playground. Though the developers aren’t seeking zoning variances or exceptions for the project, the building will need approval from the Historic Preservation Review Board to move forward thanks to its designation.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/perseus_plans_295_units_for_capitol_park_tower_project/9873.