WPC Breaking Ground on Wheaton Residential Project

Washington Property Company breaks ground on the Solaire, a 232-unit residential building at 10194 Georgia Avenue, next week.  Located on the former site of the First Baptist Church, WPC acquired the 1.65-acre parcel in 2005 and, as part of the deal, relocated the church to Olney, adding to the long list of projects approved in a quickly developing Wheaton town center.

Montgomery County approved the site plan last October for a Preston Partnership-designed six-story, u-shaped structure, opening to the south, with a swimming pool and greenspace in the interior courtyard.  Designers used a "variety of masonry and glazing" as well as "small parapets and height variations ... to minimize the sense of building mass." Beneath, developers will build a two-level parking garage with 230  spaces. A public statement notes such ubiquitous amenities as "granite countertops, stainless steel appliances, fine cabinetry, wood laminate flooring."  

According to a WPC press release, the developer owns more than eight million square feet of commercial space in the Washington, DC metropolitan area and currently has over 1.6 million residential square feet under development.Clark Builders Group is the General Contractor, Gables Residential will provide property management and leasing services.  Leasing is expected to begin in September of 2013.

Wheaton, Maryland real estate development news

Tysons Developer Begins Route 50 Apartment Project

Tysons-based Insight Property Group has started construction on a 67-unit "luxury apartment" building in Arlington near the Courthouse Metro station. While this will be the first completed development for the Insight team, it claims to have more than 1000 units "in the development pipeline."

Grayson Flats will be a 4-story ("luxury") building on a 1.67-acre site at 1200 North Rolfe Street, near Ft. Myer, which Insight acquired in 2010, demolishing the post-war apartment building that existed on the site.
Lessard Design and Preston Partnership collaborated for the design, with apartments "larger than typical Ballston/Rosslyn offerings." And forget old school, the building will feature the absolute latest in amenities package - think bocce, Wi-Fi, billiards, cyber cafe, bike storage and an electric car charging station. Such amenities may soon be coming even closer to your own neighborhood, as Insight is planning to dot the area with similar apartments:

"Insight development projects include two buildings scheduled to break ground later this year: one in downtown Silver Spring, MD and one near the Huntington Metro station in Alexandria, VA. Two more projects -- another development in Arlington and one on H Street, NE in Washington, D.C. -- will follow shortly thereafter."

Clark Builders Group is the general contractor, Buvermo Investments of Bethesda is the equity partner in the $25 million development. Construction began on the project last year and is expected to be complete by this fall.

Arlington, VA real estate development news

Today in Pictures - Flats at Atlas District

Clark Realty Capital, which broke ground on the first phase of Arboretum Place in October of 2010, is getting close to delivering its project at 1600 Maryland Avenue, NE. The first phase of construction, "The Flats at Atlas District," will yield 257 apartments when the dust settles this summer. Originally expected to initiate construction back in 2009, the project idled but a HUD loan put air beneath the developer's wings in a submarket that has seen little development of this kind. The project was designed by Niles Bolton, with interior design by RD Jones, with construction by Clark. Completion is expected "this summer." Initial leasing, which began last Thursday, is going well, according to Tracey Thomm of Clark Realty Capital, with "higher leasing volume than expected" on the 24 units just released. The Clark project sits on 5 acres, only 3 of which have been used for the Flats, leaving another 2 on which the developer will likely add another 200 units or so in the next phase, beginning pre-development this year. The developer notes that the Flats is the product of several years worth of design work that "respects the history of the neighborhood." Thomm says that "we made alot of changes based of community feedback that has substantially improved the design," something she hopes will be apparent to the community now that the project is open to the public.
Washington D.C. real estate development news

First Piece of Arboretum Place Puzzle: The Flats

On Wednesday Clark Realty Capital broke ground on the first phase of Arboretum Place. Amidst the late morning downpour, developers plunged shovels into the muddied earth at at 1600 Maryland Avenue, NE, signifying the start to the first phase of construction, set to yield 257 "high-end apartments." The initial phase has been dubbed "The Flats at Atlas District," and developers expect the residences along with 5,000 s.f. of ground-floor retail to deliver in two years time. Originally expected to initiate construction back in 2009, the market downturn put a significant dent in developer's optimism. But HUD's 221(d) financing program and now Wednesday's ceremony has brought some relief to those who've worked on the project. "We are thrilled to have finally broken ground on The Flats and become part of the exciting Atlas District community," said Project Manager Tracey Thomm at the groundbreaking, explaining that "Without the involvement of HUD, none of this would have been possible."

The proposed multifamily luxury apartment community that will eventually total some 674,757 s.f. and 430 units, is located on a ray of the newly improved "Starburst" intersection (still way less delightful than an actual Starburst), directly across the street from Hechinger Mall; some apartments will have views of the Capitol. According to the developer, the long-awaited complex will bring "high-quality housing to an area that has not benefited from new residential development in many years." In addition to the growing number of retail options in the Atlas District, future residents will plenty of amenities right outside their door - a pool, a business center, a gym, indoor half basketball court, entertainment space, and landscaped gardens complete with fireplace and "meditation courtyard" are all in the works.

Georgia based Preston Partnership brained the architectural aesthetic that fuses sharp angles and a modern facade of dark red brick, cement, and large glassy bays, conveying both a sense of sophistication and an industrial-tinged simplicity. The interiors are equally classy, the renderings of the common spaces inviting the eye to superimpose an image of a lady-wooing 007 onto the leather ottomans. Another Clark subsidiary - Clark Builders Group is charged with making the architectural drawings a reality, and will begin work just in time for the winter months.

Washington D.C. Real Estate Development News

The Varsity to Rise Quickly in College Park

While many housing projects in the metro area are getting underway thanks to government subsidies, University of Maryland student housing is going private. Clark Builders Group are ahead of schedule on The Varsity, a six-story, 258-unit apartment complex being developed by College Park Gateway Properties. Contractors report that they are currently "topping out framing, hanging drywall, installing interior trim and cabinets and laying bricks." The development, although not required in any way to accommodate students, and open to all interested individuals, is being heavily marketed to University of Maryland Students. Located just off Route 1, a stone's throw (or an empty beer bottle's throw) from campus, at 8147 Baltimore Avenue in College Park, developers claim the 401,297 s.f. wood-framed building will be able to house over 900 students upon completion.

The standard brick and concrete exterior over wood frame design by Grimm & Parker Architects won't necessarily win any awards, but the building has been packaged with plenty of student-friendly amenities (study rooms, game rooms, and a 2-story state-of-the-art gym, to name a few) and access to green open parkland, as well as landscaped courtyards. The development also includes a partially elevated parking deck (over 200 spaces) and 19,298 s.f. of ground-floor retail space, which developers confirm were completed on May 15th are set to become a sit-down restaurant/sports bar along with a large convenience store. Although the deal hasn't been made official yet, Looney's Pub is expected to be the first tenant of The Varsity.

Shuttles to campus will help students avoid DUI's and get to class on time, and in-house tanning beds will aid students looking to supplement their vitamin D intake. Units will be fully furnished with granite countertops, full kitchens with modern, black energy-star appliances, upscale furniture, washer and dryer units, Wi-Fi, and a flat screen TV with expanded cable. Developers are promising over 27 different floorplans, and promising that all bedrooms will be paired with their own private bathrooms. Construction will be substantially completed this spring, and The Varsity will begin leasing over the summer, just in time for the start of the next school year.

Many other developments are planned for the Baltimore Avenue corridor in College Park. The local blog Rethink College Park reported earlier this year that five of the seven active developments in the are were student housing projects. Clark Enterprises has been involved with two nearly completed projects in University View I & II, both right next door to the almost completed Varsity.

D.C. Real Estate Development News