UrbanTurf usually stays away from publishing rankings or lists…except at the end of the year when we look back at what DC’s residential real estate scene had to offer during the previous 12 months. So, this week we are looking at not only the best but the most intriguing and peculiar things that came across our radar over the course of 2016. Enjoy.
An exterior rendering of e-lofts Alexandria
This year has, in many ways, seen the peak of innovative approaches to housing, as co-working projects led to a spread of co-living projects and both the sale and creation of artists’ lofts and maker-spaces highlighted the growing need for affordable work-live space.
Now, DC-area developers Conrad Cafritz and Robert Seldin are taking the evolution of building usage a step further with their e-loft concept. The first occupants of Novus Residences, a retrofitted vacant office building at 4501 Ford Avenue (map) in Alexandria, will be able to rent units for either office or residential use. Move-ins started about a month ago.
An e-loft layout arranged for live-in use.
The idea is that many people now work unorthodox schedules and would like access to a building that has plenty of amenities, is centrally-located yet car-friendly, and offers a modern space with minimal set-up required. The office building was carved into 200 light-filled lofts ranging from 635 to 1,249 square feet, with rents averaging $2.50 per square foot for a 12-month lease. Thus far, many of the residential tenants also telework during part of the week.
Any businesses who wish to rent a unit for office use are limited to no more than ten employees. As with any commercial property, the landlord has the right to approve the business before leasing a unit and Novus says there will be no uses that could impinge on others’ ability to enjoy their units
An e-loft layout arranged for office use.
“Our floorplans and design from a live perspective are aimed at couples without kids and more established, older single people, as opposed to the fresh out of college, younger demographic,” explains Novus Executive Vice President Melanie Domres. “Our prospective customers have seen the advantages: fewer loud parties, fewer roommate situations with random overnight guests, smoothed out demand curve for amenities since the usage patterns [for offices and residents] are opposite, and most of all, the opportunity to meet others who are not just friends but networking opportunities with potential customers and vendors.”
The e-lofts development is working on 40 prospective leases for the new year; eventually, Novus hopes to open e-lofts in metropolitan areas nationwide, with plans including a total of 50-100 locations over the next decade.
This article originally published at https://dc.urbanturf.com/articles/blog/most_innovative_use_of_building_square_footage_e-lofts/11971.
Most Popular... This Week • Last 30 Days • Ever
Why condo fees are high in some buildings and low in others can be a difficult questi... read »
When sellers haven't quite lined up their next house before their settlement date com... read »
In this edition of First-Timer Primer, we look into the question of how to determine ... read »
The preferred mortgage product among most home buyers is the fixed-rate mortgage. How... read »
Here's what you need to know about reporting profit made from the sale of your home.... read »
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
Virginia's homebuyer assistance programs can seem complex. This edition of First-Time... read »
A recent transaction shows that the housing market isn't cooling off everywhere.... read »
Developer Akridge has released new images of their planned Burnham Place development ... read »
The new development will also have a nearly 20,000 square-foot public plaza.... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
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. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro