UrbanTurf has learned that the 125-unit residential project being built at the corner of 14th and S Streets NW, which has been dubbed District Condos, will be rentals rather than the originally-planned condos.
District is being developed by The JBG Companies & Grosvenor and broke ground back in 2010. The majority of the units (85%) at the project, designed by DC-based architecture firm Shalom Baranes and Toronto based interior design firm Cecconi Simone, will be studios and one-bedrooms and the remainder will be two-bedrooms. The building will feature street level retail along 14th Street, and have an indoor gym, as well as a roof deck with seating areas, a kitchen, bar, and sundeck. It is expected to deliver in the fall of next year.
“We received a substantial amount of interest in the condominium project, but the strong fundamentals of the rental market and our confidence in the opportunity to deliver an exceptional boutique apartment building ultimately swayed our decision to deliver the project as an apartment,” Kai Reynolds, a principal with JBG, said in a press release. As UrbanTurf reported earlier this week, the condo market in the zip code where the new project will be located is pretty tight right now.
- The Irwin on 14th Street Gets a New Look
- New Five-Unit Condo Project Planned for 14th Street
- Be Original. Be True. Live at Northern Exchange
- 14th Street’s Growing Number of Retail Casualties
- The Aston
This article originally published at http://dc.urbanturf.com/articles/blog/district_condos_on_14th_street_to_go_rental/4661
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