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21-Unit Development Planned For MacArthur Boulevard Nixed Due To Tariffs, Interest Rates

  • June 6th

by UrbanTurf Staff

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macarthur-aerial.jpg
Aerial rendering. Click to enlarge.

The residential project pitched a couple years ago for the main commercial thoroughfare of Palisades has been nixed.

The developer for the planned 21-unit building at 4885 MacArthur Boulevard NW (map) told ANC 3D this week that he is no longer pursuing apartments at the site. 

"I spoke with the owner yesterday and he informed me that he is pivoting away from building the apartments and is pursuing leasing the spaces," ANC 3D's Tricia Duncan said in an email. "He cited tariffs and interest rates as the driving force behind this decision to not build the apartments."

The proposed project, designed by Teass\Warren Architects, was going to consist of one- and two-bedroom apartments with three apartments reserved for Inclusionary Zoning. It is unclear what will happen with the retail spaces, although UrbanTurf has learned that Black Coffee has plans to move into the retail space at The Fitzgerald, a senior living community a few blocks away. 

See other articles related to: macarthur boulevard, palisades, palisades apartments

This article originally published at https://dc.urbanturf.com/articles/blog/21-unit_development_planned_for_macarthur_boulevard_nixed_due_to_tariffs_in/23580.

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