The Inside Scoop on 14W
✉️ Want to forward this article? Click here.
Rendering of 14W
Just before people hopped in their cars for the Thanksgiving break, the Washington Business Journal dropped some big residential development news for the District: a 231-apartment mixed-use development would break ground on the corner of 14th and W Streets NW in a joint partnership between Perseus Realty and Jefferson Apartment Group.
In addition to 231 apartments, the 300,000 square-foot project will have a new 44,000 square-foot YMCA facility, and over 10,000 square feet of ground-level retail space. The development, named 14W, will blend new construction on what is now a vacant lot with the adjoining five row houses along 14th Street. Demolition is expected in early December with the first apartments and YMCA to deliver in the summer of 2012. Remaining apartments will deliver that fall.
“We have a very desirable project,” Perseus president Robert Cohen told UrbanTurf. “The YMCA is a great amenity. We’re going to have an Olympic-size pool, a gym, and even a day care center. There’s also a charter school around the corner on Florida Avenue, so theoretically, we could attract younger people with new families.”
The northeast corner of 14th and W Street NW
Cohen said that the average apartment will be a little over 800 square feet, and that monthly rents will range from roughly $2,300 to $2,600. Of the 231 apartments, 19 will be set aside as affordable for tenants earning 60 percent or less of area median income.
As for the retail that will occupy the ground floor, it’s too early to say. At 10,000 square feet, the space is too small for a grocery store, so Cohen is hoping for something like a restaurant or clothing store that will serve as an additional amenity for the neighborhood. Because much of the retail space will be contained in the row houses, the final effect could be similar to what Douglas Jemal did with the restored row houses along 7th Street in Chinatown.
“We’re going to be very selective with what type of tenants we choose for the location,” said Cohen.
The ground breaking of 14W is yet another sign of an increasingly active pipeline in the DC Metro area. Perseus originally announced the project back in 2007, but the economic downtown stalled development. Three years later, and not only is 14W finally moving ahead, but Cohen indicated that Perseus is working on a couple other projects as well.
“We’re back in the market again,” he said.
See other articles related to: 14w, dc apartments, perseus realty, renting in dc
This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/the_inside_scoop_on_14W/2712.
Most Popular... This Week • Last 30 Days • Ever
Forest Hills Connection is reporting that the owner of the Days Inn along Connecticut... read »
On Monday, the listing price for the 30,000 square foot home that was originally buil... read »
The 67-room luxury hotel will be located at 3000 M Street NW, the site of the old Lat... read »
The eight-bedroom estate built by Banks Development along Chain Bridge Road will be l... read »
DC's Historic Preservation Review Board looks poised to approve changes for one of th... read »
- A Plan For More Development In Van Ness?
- The Price For Dan Snyder's Former Potomac Home Drops By $5 Million
- Jose Andres Group Partners On New Georgetown Hotel
- DC Home At Site Of Former Cafritz Mansion Set To List For $23.5 Million
- HPO Recommends Approval For Changes To 280-Unit Building At DC's Reservoir District
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro