Shovels will hit the dirt tomorrow at the official ground-breaking of the View 14 apartment building, a mixed-use development located at 2303 14th Street, NW. The $80 million development, a joint venture between the local Level 2 Development, LLC and Chicago-based Centrum Properties, will create 185 "sleek" apartments and 34,000 s.f. of retail space at the corner of 14th Street and Florida Avenue, NW.
Level 2 has been preparing for tomorrow's ground-breaking in several stages over the past two years; back in 2005 the main lot was purchased for $10.2 million from Petrovitch Auto Repair Inc.. Then, late in 2006, it bought the adjacent lot from Comcast for $3.2 million - a price which included the sale of the property and the cost of relocating the existing satellite farm which it housed.
Level 2 has focused much of its efforts towards recreating the area above the U Street corridor, working on a number of projects within a few blocks of the View 14 site. Late in 2006 they purchased the Nehemiah Shopping Center, located just across the street, and recently sold the property and the design plans. Level 2 has also completed some relatively smaller projects in the area including the Clift back in 2001 and the Mercury at Meridian Hill Park in 2005.
Within the P.U.D. for View 14, Level 2 agreed to offer $40,000 in contributions to local organizations, introduce itself as a new participant in DC employment programs and, most notably, contribute $1 million in funds which will be delivered by Level 2 principals David Franco and Jeff Blum to the Sankofa Tenants Association. The funds are being donated to enable 48 low-income households to purchase and renovate their building, the Crest Hill apartments, as part of an affordable housing cooperative.
Clark Residential will serve as the general contractor for the site while SK&I are the acting design architects. The expected completion date for View 14 is in the second quarter of 2009.