Construction is expected to begin within two weeks on the District Condos project on 14th Street NW between Swann and S Streets, according to the developer. The project is the first large-scale condominium to begin in the neighborhood since the recession.
Condo prices will likely start in the low $300,000 range, with a bulk of the units priced under $600,000 and a few running up over $1 million… square footage from 425 to 2,000.
Demolition and clearing of the site was completed a few weeks ago. The lone building remaining on S Street is the original Whitman-Walker Clinic building, which will be preserved and incorporated into the mixed-use project.
The building is being developed by JBG Companies and Grosvernor. JBG hosted a reception for neighbors last Thursday night to discuss the impact on the immediate neighborhood during the construction, which is expected to last until Summer 2012.
Portions of the sidewalks around the property will need to be re-routed to protect pedestrians, and many on-street parking spots will be lost during the process. After completion there will be a net gain of three parking spots on the street. The 14th Street bike lane will not be affected during construction.
The completed condominium will have 125 residences and 90 parking spots. James Nozar, an executive with JBG, told Borderstan that units will range from approximately 425 square feet to 2,000 square feet, including studios, 1-bedrooms, 1-bedroom + dens and 2-bedroom units. Prices will likely start in the low $300,000 range, with a bulk of the units priced under $600,000 and a few running up over $1 million.
The sales and marketing effort will be handled by the Mayhood Company and should begin about 12 months before delivery. Interested purchasers may register for updates and information at the District Condos web site.
The ground floor will have approximately 18,000 square feet of retail. Nozar said there is already a significant amount of interest in the retail spaces. He said most of the prospects are local and would contribute to the mix of home furnishing and clothing retailers, restaurants and other service providers that the neighborhood is known for.