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

Post Park Coming Soon to Post-Hyattsville

After forty years of relative imperviousness to real estate development in neighboring Washington DC, the Prince George’s County hamlet of Hyattsville is finally taking advantage of its seat just one mile from the District line. First came new development at the aging University Town Center, which was followed shortly by EYA’s Arts District Hyattsville project – an ongoing undertaking that’s been a shot in the arm for the town’s main corridor along Route 1. Now Atlanta-based developer Post Properties, Inc. has begun construction on a new phase; their Post Park development at 3300 East West Highway.

Located on a 7-acre parcel just off of MD 410, Post Park will be a serious addition to the Prince George’s County market – especially along the busy thoroughfare known more for its drive-thrus and strip malls than big ticket residential properties. The developments primary building will measure in at 466,700 square feet and four to five stories, for a total of 364 new residential units. 1750 square of retail space will occupy the building’s ground floor, while a 544-space parking garage will serve residents only (and not patrons of the Prince George’s Plaza Metro Station just 1600 feet away).

Post has dubbed their units “apartment homes” and will be offering, in "late 2009," finishing touches like stainless steel appliances, granite countertops, ceramic tile floors, high ceilings, and access to the in-house fitness center and swimming pool to prospective residents. Per a request from the Prince George’s County Planning Board (PGCPB), the developer will also be constructing an 8,000 square foot plaza at the intersection of East West Highway and Toledo Terrace and include a connection to the neighboring Northwest Branch Stream Valley Park – one that according to PGCPB “will contain little or no transition to the park and…make the park an amenity for [Post Park] residents.” Niles Bolton Associates is handling designs for the project, while Clark Builders Group is serving as general contractor.In a move similar to EYA’s intentions for the township, Post - in tandem with the Hyattsville Community Development Corporation (HCDC) - is currently accepting submissions from local artists interested in contributing to the project’s public arts component (and the more they stand out against their Home Depot backdrop, the better). Any and all entries are due to Stuart Eisenberg, Executive Director of the HCDC by January 16^th.

Prince George's County real estate development news