Thursday, May 12, 2011

Constitution Square Breaks Ground on Phase 2


StonebridgeCarras broke ground this week on their second phase of Constitution Square, queuing up another residential element in Noma's largest development. The construction will add 203 rental units to the mixed-use endeavor on Noma's northern edge, with another office phase to follow by July. StonebridgeCarras principal Doug Firstenberg says the 203 unit apartment building, designed by SK&I Architects, will be geared toward smaller, highly amenitized units to capture the segment of the market that has performed best next door at Flats 130, which Firstenberg says has been leasing more than 30 units per month and is now 45% occupied.

Stonebridge just now completed Two Constitution Square, which it also built without a tenant, and though Firstenberg initially banked on another large federal tenant, focus has now shifted to private tenants with the expected slowing of the expansion of the federal government and with it federal leasing.

Washington D.C. real estate development news

3 comments:

Campy on May 12, 2011, 3:17:00 PM said...

Any retail component to this?

The AMT on May 12, 2011, 3:17:00 PM said...

I'm guessing the part of the schemat labeled 'Four Constitution Square' is the Phase III component? If so, I'd love to see the NOMA BID come together with the city and developer and see what can be done to make that space into a park, which is the one amenity the developers have really, really overlooked in the neighborhood.

Anonymous said...

@campy

Yes, there will be new retail space in both the residential and office buildings.

 

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