Park Place Apartment to Have Official Ribbon Cutting Ceremony With Mayor and Council Members on Wed.

DSCN0978, originally uploaded by Prince of Petworth.

The Park Place apartments located at the intersection of New Hampshire and Georgia, above the Petworth Metro, will have a ribbon cutting ceremony on Wed. with Mayor Fenty, CM Bowser and CM Graham at 3:30 pm. There will be a reception following from 4:30-6:30. You can enter through the main entrance on Quincy. Some units will be available to tour. I’ll take photos and post the monthly rent when I get the info sheet. I’ll also be updating with more retail options as they become available.

Fence is down on the units in the back as well:



31 Comment

  • I’m wondering what the prices will be. They haven’t been listing them on the ads they’ve been placing on craiglist. I thought they might’ve been posted here on POP once, but I wasn’t able to find it.

  • Annnd, just noticed you said you’d be getting the rent info sheet! So I will be waiting anxiously for that update!

  • Vonstallin

    I have a friend looking 2 rent so id love to see the rent prices 4 her also.
    anybody know?

  • With Highland, Allegro, and now Park Place, that is a lot of rental competition for similar places. I would think these would be priced a little below Allegro given the neighborhoods, but then again, these have the advantage of being right above the Metro while Allegro requires a 3-5 minute walk.

  • I’ve been waiting for quite a while on these, unfortunately the first pricing information I received from them was not promising. The sales rep quoted 1 bedrooms starting at $2010.00 which seems at least 200-300 above what I would consider reasonable even for a new building.

    $2010 is about the price at CityVista (a little less) and it is more than entry level 1 bedrooms (renting fast!) at Allegro in Columbia Heights. There are also a number of new buildings down by the ballpark in the same price point.

    I’m pretty bummed ….

  • @ FentonH: seriously? That’s higher than Highland Park & Park Triangle ($1700-$1800 for a 1br), which doesn’t make sense.

    Maybe they’re gonna mark-up the base rent really high and then give 2 months free like the Allegro, though…

  • Yeah – I was shocked! I told the sales rep (via e-mail) that it was too high and pointed out other places that were lower but I never heard back. It’s surprising because Bozutto also does Highland Park which I think was priced pretty fairly …

    They are offering 2 months free rent which is great – but even so the base price needs to be lower. I think Allegro is one of the better deals right now and those are being snapped up quite quickly…

  • 2010 sounds really high…for that price you can get a nice 1BR (renovated in the past 2-5 years, if not brand new) anywhere in the city for that price, and an ok 2BR in several different locations within a couple blocks of a metro.

    obviously, some people prefer brand new stuff and would rather live in Petworth than by NY ave or other places on the Green Line (where it seems most of the big new rentals buildings are located), and some people are willing to pay for the convenience of not walking even a block or two to the metro, but I guess the question is how long it will take to find over 100 such folks (there are around 160 units in the building–the developer’s website says 156 and a city press release says 161–but 20% are supposed to be set aside as affordable).

    Also, PoP, can you PLEASE ask what the income cap (either as % of Area Median Income or in dollar amount by household size) is for the affordable units and what they’re renting for? I’d also be really interested if you could compare a unit renting at market rate with one set aside as affordable…are the fixtures different? the size? the view? etc.

  • Hmm, yeah, with 2 months free that works out to $1666 a month, which might make sense if it were the base rent. Who knows, maybe there are enough people who are only looking for a place for 1 year who would take that deal. I’d rather be somewhere where I knew my rent wasn’t going to go up 20% the next year….

  • The Park Place is missing out by missing the summer, also, since at this point it looks like folks won’t be moving in until September (or maybe August?) Lots of folks move to DC in the summer to start new jobs, grad school, etc. It’s much slower in the fall & winter.

  • Is any retail besides the Gillian Clark restaurant confirmed?

  • wow those back units/townhomes look great!

  • I spoke with Bozzuto this morning and they confirmed that all units come with 2 months free rent. The person I spoke with listed a starting price based on that concession of $1,675/month, which from my search is cheaper than both Highland Park and Allegro based on the unit sizes.

  • John, according to this the Allegro 1br’s start at $1825/month, before the 2 months free rent.

    Maybe the Park Place apts are bigger, though.

  • Even if the “2 Month’s Free” special works out to $1675, that’s usually only good for one year. Most places won’t let you renew on that basis, so you’re stuck with not only going back up to the base rent after one year, but then they usually tack on the yearly increase to that as well. Which makes renting at Park Place on a long-term basis not very attractive.

    If the rent is really over $2000 for a one bedroom, then I am extremely disappointed. I’m even surprised that Allegro is doing so well. $1875 for a 550 square foot apartment right next to the fire station and “Bumfest” – why would anyone think that’s reasonable?

  • Allegro is cheaper – the pricing they offer is before 2 months incentive and they have 1 bedrooms below $2000.00 – Or you could get a 1 bedroom at V at City Vista for $2100 before 2 months free rent and live right above the safeway and other shops …

  • Geen, $1875/month works out to $1562 with 2 months free, and I think it’s pretty hard to find a 1br at all for that that’s near the Metro and not in the basement. And I can see people moving from out of town who don’t have much time to look for a place taking that deal, and then plan on moving once they’re here since it’s *much* easier to apartment hunt when you’re already living in town.

    It’s still really high, but not as outrageous when you consider the 2 months free and how that might make sense for some people. And there are a lot of positives to the Allegro’s location, too! (No, I don’t work as a a leasing agent for the Allegro :)) So, it’s not a great deal and I wouldn’t take it — I have a roommate and rent a house and pay a lot less for more space — but I can see how some people would take it.

    The rents @ the Park Place are still too high, though.

  • Wow, that is crazy high. With all the gloom and doom about owning real estate, these prices make me feel better about my decision to buy, considering my mortgage probably ends up being about the same as I’d pay for an equivalent place in one of these buildings, less when you consider the tax implications …

  • And, Anon 12:01, the CityVista has a pool. If Park Place had a pool, I could see them getting those rents. I wish at least one of the buildings arount here did. I mean the Park Triangle has that awesome roofdeck, but it would be so much better with a pool.

  • If 20% of the apartments have to be low-income (whatever that is) then that explains the higher rent. 20% is a lot of subsidizing.

  • Yeah, Angry Parakeet I think nailed it – I didn’t realize they had such a high % of income restricted units. That really cuts into the # of otherwise available.

  • They still have to offer market-rate, though, if they’re gonna get any market rate tenants. No one’s gonna move in (except for the low-income tenants) if they can get a better deal at the Allegro…

  • The crazy thing on the income limited units is that the income cap is usually so low that I don’t know how someone can even afford the monthly rent. I remember at V at City Vista you could only make like $34,000 but the subsidized rent was still like 1200 or 1300 …. the %s seem all skewed.

    Anyone look at the Onyx Apartments yet down by Navy Yard ? Those look pretty cool …. but the location is meh

  • Yeah, after taxes $34k is less than $2000 take-home a month. I don’t see how you can pay $1200 in rent without some other kind of subsidy. (Parents, sig. other not listed on the lease, other unreported income…)

  • Anon @ 12:05 – Yeah, with the special, the monthly rent works out OK. But I think it’s a bit deceptive if you want to find a place to live for more than one year, as when the one year is up, your OK rent is suddenly going to skyrocket to almost $2k a month for a small 1 BDR.

  • Just thinking about this a little more … if you’re supposed to spend no more than 28% of your gross pay on rent, then to pay $2000 you should be making $85000 or more. Are there that many people making $85k who want to live in 500 sq ft above the Petworth Metro?

  • ahhh… I remember the days when Matthew and I lived in Woodley-Park @ the Calvert House. We paid $1.1k in rent each month in a 500 sq studio for 2.5 years. For a couple first starting out this was in my opinion a pretty good deal but I could not imagine pay $2k a month for 500 sq ft unless starting incomes have really increased as 500 sq ft living is fun for a while but not long term.

  • this was in 2000-2002. Thinking now we paid $1.7k for a 1 bedroom + den 850 sq ft renovated apt in AM from 2006-2008, but it had mice + no dishwasher + no laundry in apt (but laundry in building). Sol I would say this seems pretty steep.

  • to see the high prices of this is crazy!!…im not really understanding why they would price park place so high being the area its in isnt all that great to begin with..this was supposed to be quote on quote affordable apartments but this is just crazy 2010 or 1800 you might as well just buy..DC is really getting to be to high to live in for most residents thats been living here for years and years and its really not fair to them..something needs to be done about it!!

  • I visit there last month and spoke to a sales Associate.
    The price for a two bedroom is $2600.00 and a one bedroom is $2300.00
    and they told me in a year or two they are turning them into condo’s.

    And I told that sales person are they trying to get back the funds that they put OUT because people are not buy now…. that’s why the prices are so so HIGH….

  • Todd Wiggins

    Commentary from Developer Chris Donatelli on opening day in July:

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