Sunday, January 24, 2010

Onyx Apartments

Faison, a Charlotte-based developer with a big stake in the DC condo market, having developed the Whitman and 1010 Mass, partnered with Canyon-Johnson Urban Fund (i.e. Magic Johnson), a major fund for urban redevelopment projects, to build the Onyx, a 14-story residential tower at First & L Sts, within the Capitol Riverfront BID. Construction began in November 2006 and finished in early 2009. Calling it Onyx on First, Faison developed 266 residential units over a four-level underground parkFaison, southeast DC, Esocoff, Canyon-Johnson, condosing garage with approximately 210 parking spaces, with a striking glass/brick exterior. The majority of units, designed to attract entry-level professionals, are small, and originally sold as a condominium, ranging from the high $200k's to the high $300k's with an average size of 725 s.f., but in early 2008 converted to an apartment building. Onyx residents have a public courtyard, game room, bike room, floor-to-ceiling windows, and pool. The name "Onyx on First" is a play on the address and the nearby baseball stadium, and 1 block from Metro. Designed by Esocoff & Associates. 

Washington DC commercial real estate news


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