UrbanTurf has learned that The District, the long-awaited 125-unit residential project at the corner of 14th and S Street NW (map), has been sold.
This morning, developers JBG announced that ownership of The District had been transferred to JP Morgan, and that the project is now under new management.
As anyone who has walked down the 14th Street Corridor recently has noticed, the construction of the development is almost done. We reported late last year that leasing was estimated to begin in January. It is unclear how exactly the sale will impact the plans, but JBG has affirmed that leasing will begin soon.
The project, which was originally planned as condos, is mainly filled with smaller units: 85 percent are studios and one-bedrooms, and the remaining 15 percent are two-bedrooms. The young-adult leaning complex will have an extensive rooftop terrace with a fire pit, a bar and lounge chairs.
UrbanTurf has reached out to JBG and will report on any further details as we receive them. (The project’s website dcdistrict.com appears to be down at the moment, perhaps due to the change in ownership. We’ll watch that as well for any additional information.)
This article originally published at http://dc.urbanturf.com/articles/blog/14th_streets_the_district_has_been_sold/6816
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