Luxury Georgetown Condos Will Deliver in Late 2014

by UrbanTurf Staff

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Rendering of 1055 High

1055 High, a luxury condo project along the C&O Canal in Georgetown where units will range in price from $3 to $5 million, will start sales in January and deliver in late 2014, UrbanTurf has learned.

The Eastbanc development at 1055 Wisconsin Avenue NW (map) will have just seven three- and four-bedroom units, ranging in size from 3,300 to 4,300 square feet. All of the units will come with expansive private terraces or a balcony, and each will have two dedicated parking spaces.

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The roof of 1055 High will consist of a glass fitness center, a pool, a patio for entertaining with a kitchen set-up, and a green roof. Eastbanc’s Erin Milan told UrbanTurf that the ground-floor retail will be a high-end retailer along the lines of Hermes.

1055 High was designed by the architecture firm Beyer Blinder Belle, whose portfolio includes a number of residential projects in New York City.

This article originally published at http://dc.urbanturf.com/articles/blog/dcs_new_highest_priced_condos_to_deliver_in_late_2014/7809

12 Comments

  1. Aunt Jemima said at 2:39 pm on Tuesday November 12, 2013:

    I can’t help but wonder when this multi-million-plus market will be saturated.  Are there really THAT many people who can afford these prices?

  1. Found said at 2:55 pm on Tuesday November 12, 2013:

    Very excited to see this moving forward. The renderings look very cool. Parking included with units will be a must in this section of Georgetown, though.

  1. Alex said at 3:02 pm on Tuesday November 12, 2013:

    @Found I’ve been keeping up with the progress on site, and there will be parking.  In your opinion, why is parking “a must” in this section of Georgetown?  This is a block removed from M street, the waterfront, etc.

    With these prices, parking is considered “a must.”  Simply for the location though, I disagree.

  1. Zesty said at 3:05 pm on Tuesday November 12, 2013:

    @Aunt, DC is wealthier than you realize. According to business insider, DC metro has the 4th highest total number of Millionaires compared to other U.S. metro areas (NYC, LA, Chicago being ahead).  Per capita, NYC metro area had about 3.09% of it’s population as millionaires and DC metro had 2.83% of its population as millionaires.

  1. David said at 3:16 pm on Tuesday November 12, 2013:

    Interesting that they think they can pull an Hermes type store.  Don’t get me wrong I hope that they do, but I am always surprised why Georgetown hasn’t gone “ultra-lux” yet with those types of brands.  I would think it would eventually anyway if they can figure out some creative parking solutions (why not have street-side valet in front of a number of those shops?)

  1. Found said at 3:37 pm on Tuesday November 12, 2013:

    @Alex,

    I agree with you that the units are close enough to the public transportation of M Street, so saying that parking is a must might be an overstatement.

    Still, there is virtually no street parking in this part of Georgetown (all metered), so the developers are wise to include parking. And when you get to this high a price point, any buyer will expect a parking spot to be included with a unit.

  1. Uncle Ben said at 4:05 pm on Tuesday November 12, 2013:

    Someone paying 5 million bucks for a house is not going to ride the bus.  Sorry, that’s just the way it is.

  1. Alex said at 10:56 am on Wednesday November 13, 2013:

    @Found,

    If someone has the necessary funds (3 -5 mil takes care of that nicely), then by all means they should have a car in the city.  Like I mentioned previously, with these prices, parking is considered “a must”.

    I agree when you hit this kind of price point, you must have parking available for each unit.  Still, I think its important to note that there is parking to be found in this part of town.  I live 2 blocks away, and never have trouble finding parking north of M street.  For the middle class that live in this area, there is adequate street parking in Georgetown.  DC makes it too easy to have a car as it is; we don’t have to park directly in front of our doorstep to state we have adequate parking.

  1. Maggie said at 10:56 am on Wednesday November 13, 2013:

    Cannot wait to see the finished product. Heard that the builder, McCullough Construction, has a reputation for amazing work, seamless.

  1. former Georgetowner said at 12:56 pm on Wednesday November 13, 2013:

    to Alex

    ‘DC makes it too easy to have a car as it is.’

    Are you implying that it’s DC’s job to make having a car difficult?

  1. Alex said at 4:53 pm on Wednesday November 13, 2013:

    @former Georgetowner

    No, I’m stating that it isn’t DC’s job to make having a car easy.  Nearly every city outside of North America has appropriately priced car ownership: both through limiting parking in new construction and pricing street parking.

    I haven’t stated that DC has done a poor job; they have are doing well in this regard.  Let me answer your question with another question: As long as adequate transit options are available (and they are - metro, walking, public biking, future street cars), shouldn’t most of the public be given an incentive to use these public transit options instead of driving?

    If your answer is yes, then I’d argue one of the best incentives is to limit parking structures in buildings. Put that recovered F.A.R. towards new units, and lets get rent costs under control.

  1. Teri Cain said at 1:32 am on Wednesday December 11, 2013:

    Luv The Luxe RE section!

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