Rendering of new project.
UrbanTurf has learned that the 30-unit mixed-use project at 14th Street and Rhode Island Avenue NW from Abdo Development will be rentals rather than condos.
“The decision to make this a rental project was an internal one, and was not dictated by the market,” Jim Abdo told UrbanTurf. “We like the balance of condos and apartments that we currently have in our portfolio.”
In May, ANC 2F approved the concept and massing for the project at 1400-1404 14th Street NW (map), which will include ground floor retail and second-floor office space . The development will rise six stories on the northwest corner of 14th Street and Rhode Island Avenue where Caribou Coffee now sits. The buildings at 1400-1402 14th Street NW will be demolished, while the facade of 1404 14th Street NW will be preserved.
The project will consist of 30 units, and while units will range from 351 to 1,136 square feet, the average unit size will be about 550 square feet.
“There are a lot of young people that are doubling up and tripling up in apartments right now, and we want to provide a more affordable option,” Abdo said. “Some of the apartments will be priced below market-rate to appeal to those who are priced out of the neighborhood.”
Having received approval from the Historic Preservation Review Board, Abdo said he hopes to get permit drawings filed in the early part of 2013, and break ground before the end of the year.
This article originally published at http://dc.urbanturf.com/articles/blog/new_30-unit_abdo_project_at_14th_and_rhode_island_will_be_rentals/6286
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