Tuesday, August 09, 2011

The Foundry Lofts at the Yards, Opening Soon


The Foundry Lofts, one residential component of The Yards development by Forest City in Southeast, began pre-leasing on August 1st the 170 apartment units that comprise the redeveloped Foundry building, with 10,000 s.f. of ground floor retail. There are three floors of one- and two-bedroom apartments, and 33 two-level penthouses. One-bedroom units will be in the lower $2000/month range, two-bedrooms "from $2,700" and penthouses "from $3,400," with unobstructed views of the Anacostia and beyond. The first apartments will deliver in mid October and the penthouses two months later. The residences will comprise just a few of the 2800 units completed to date in the Capitol Riverfront Business Improvement District, but will be conspicuous as the nucleus of the retail pavilion, overlooking the parks and surrounded by the new retail center. Retailers already leased at The Lofts include Potbelly's and Kruba Thai and Sushi. 

Washington D.C. real estate development news

10 comments:

IMGoph on Aug 9, 2011, 11:46:00 AM said...

Kelly: That's not "existing residential," that's the Department of Transportation HQ. C'mon...

BJH on Aug 9, 2011, 11:54:00 AM said...

Seriously, that is the U.S. Dept of Transportation, not residential. The nearest existing residential is the Apts at 400 M...or the Capitol Quarter development. The apartments will be a great way to bring residential down to the waterfront, and hopefully attract more businesses and eateries.

Critically Urban on Aug 9, 2011, 12:30:00 PM said...

Yeah, I was gonna chime in and say the same thing as these guys.^^

PLEASE get it straight. Mixing up the DOT with existing residential undermines your "knowledge" of the neighborhood you're writing about.

Anonymous said...

I would have to describe those lease prices as "aspirational pricing." A one-bedroom in Navy Yard might be worth $2K per month in 3-5 years when there is actually retail/restaurants in the area. Shouldn't the rent be a little lower in order to draw in the people needed to support eventual retail? Where is the coordination on this?

Anonymous said...

Agreed. Why not pay those rents to live near U Street? It's not like you are building equity as a renter.

Anonymous said...

Those rents -

brand new construction, water views, a waterfront park basically at your door. With a green line stop three blocks away, (and from there only two stops to L'Enfant Plaza) and circulator bus to capitol Hill. For folks who don't need a lot of bars and stuff, I am not sure how U Street offers better deals.

Anonymous said...

But there is retail Anonymous - Harris Teeter, more apartments and six other places are being built plus the lumbershed wll start construction and it will have more places to eat. The rent will only go north for those places once the retail opens.

IMGoph on Aug 10, 2011, 4:25:00 PM said...

thanks for making the edit

Anonymous said...

Please take some time to think before posting to the site. The rents they are offering are right in line with the surrounding buildings that are already full of tenants.

jw on Aug 11, 2011, 3:56:00 PM said...

Jobs, Capitol Hill, parks, ice skating, baseball & concerts, water access and views. Where else you gonna find that!

 

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