Now that EYA's townhomes in the Navy Yard area are selling and construction is moving along, the developer is setting its sights on the planned townhome project for Brookland's St. Paul's College. Coming off their May 2009 Planned Unit Development (PUD) approval, EYA is finalizing the architecture and engineering plans to move forward with permit applications. Designed by the Lessard Group, the new townhouse development, according to the developer, should begin construction in summer of 2010, with sales beginning as soon as May 2010. VIKA, Inc. is the project engineer.
The 237 single-family units will be built on approximately half of the 20 acres, abutting the Trinity and Catholic campuses along 5th and 6th Streets NE. The townhouses will range in sizes from 14 to 18 feet wide and including between 1,400 and 2,100 s.f., selling between $450,000 and $550,000, with 28 units set aside as affordable housing.
Jack Lester, EYA Vice President, estimated the total cost of the project will come in at a hefty $100 million. When asked about the purchase price, Lester was unwilling to disclose an exact amount but indicated that it was based on a "complicated formula;" the developer paid a fixed amount up front, with a formula for additional payments based on sales. EYA is currently under contract to purchase the property; sales and construction will start after settlement in May of 2010
EYA originally won out over a field of 12 to 15 other developers who responded to a solicitation of interest put forth on behalf of the Paulist order, which plans to retain ten acres that include the school and offices. Lester said his team bested its rivals because the property owners would be a more "sensitive" neighborh; the Paulists apparently prefer to look out on 237 townhouses, rather than commercial space or a residential property with more build out.
Lester added that with all of the "exciting things happening" in the area, EYA was glad "to be part of the vibrant community."