Trammell Crow's massive three-phase NoMa development, Sentinel Square, is officially at its precise midpoint.
"We just hit the bottom of the hole for Phase 2," says Tom Finan, Managing Director at Trammell Crow. "Now we're starting to work our way up. We broke ground back in February and we're on track to deliver in October 2012."
The Phase Two office building, at 1050 First Street, is slated to offer approximately 280,000 square feet of office space over twelve stories.
The Smith Group/JJR-designed building may or may not feature ground floor retail space. "That's something we're going to look at," says Finan. "It's going to depend on the market. That intersection is becoming a sort of crossroads for that area, so it might be a good idea. But as of right now, it's still up in the air."
"We're not going to really get down to Phase Three until we have the second phase delivered and leased and stabilized," Finan said.
Sentinel Square II was financed on spec by European companies Helaba and Nord LB, which collectively put up $181 million towards completion. Though financing a project of this scale on spec is somewhat unusual (but so were 1812 N. Moore and CityCenter), investors were reportedly reassured by the fact that Trammell Crow has already leased 85% of Sentinel Square I, to such tenants as the Department of Veteran Affairs, and other federal agencies.
Washington D.C. real estate development news
9 comments:
Relentlessly ugly and banal.
Hooray! You're back!
@Anon 9:12
I prefer to think of it as "government office chic".
Yeah, it certainly is an ugly design. I normally get annoyed when all people do is bitch about the aesthetics of a project but this one is exceptionally hideous.
This firm, and its predecessors, have a good track record of designing good to excellent projects. This project's design does not come close to quality that defined its past. That is sad.
Agree. Totally ugly, but I can overlook that if they put in ground floor retail. I live in the neighborhood, and more stuff to walk to would be a huge improvement.
Is this the 1970's?
Horrific!! Can we get just a little consideration to architecture. DC needs some type of architectural review board to evaluated these new developments when they are proposed; Provide these developers some feedback on building aesthetics.
Ugly? Were you people expecting the Taj Mahal as an office building in NoMa? It's meant to be a government office building you fools.
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