Wednesday, September 17, 2008

A Low-Rise Victory for Parkside

Northeast's Parkside neighborhood will soon be getting a little greyer with the construction of the Victory Square senior housing development. Located at 600 Barnes Street NE, the project is being developed as a joint venture between Bethesda's Victory Housing Inc. and the Bank of America Community Development Corporation (BACDC) - an altruistic wing of the commercial bank which contributed over $1 million in loans and investments towards low and moderate-income real estate projects within the District in 2007 alone.

Measuring in at 97,100 square feet, the 4-story Victory Square project will house 98 apartments suited to the needs of seniors, plus an exterior courtyard terrace, coffee bar and lounge, exercise facilities, library and computer center and an in-house salon - all based on designs by local architecture firm Grimm + Parker. Victory Square will mark the developer’s fifth so-named senior housing facility in the region, after Palmer Park’s Victory House, Potomac’s Victory Terrace, Columbia Heights’ Victory Heights and Takoma Park’s Victory Tower.

Victory Square marks the BACDC's very first project in the area, although more are in the pipeline. “We have been working on the master plan development of the area," said Maurice Perry, Development Manager of the BACDC. "This project would be the first phase of the overall development.” In cooperation with Parkside LLC, the proposed plans call for future redevelopment of existing townhomes and apartment complexes in the Northeast neighborhood.

Subcontractor bids are due to the project’s general contractor, Hamel Builders, by September 26th. Construction is slated to begin in March and be completed 13 months thereafter.



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