Yesterday we learned about the affordable housing component fronting V Street – here’s the project fronting U Street.
From a press release:
“High Street Residential has partnered with Deutsche Asset Management to develop a 288-unit, Class-A, multifamily project, located at 1441 U Street, NW, Washington, D.C. This luxury apartment project will also feature more than 15,000 square feet of retail in the core of the U Street Corridor. Construction is scheduled to commence Q3 2016, with completion in mid-2018.
1441 U Street is located adjacent to the Frank D. Reeves Center of Municipal Affairs, at a site that was once the home to the now-razed, 48-unit Portner Place Apartments. This site will also contain Portner Flats, a 96-unit affordable housing complex fronting V Street, NW that will be developed concurrently by a joint venture between Somerset Development and Jonathan Rose Companies.
“We are excited about this opportunity to deliver housing and retail opportunities to an incredibly vibrant neighborhood, further adding to the urban streetscape of the U Street Corridor,” said Josh Dix, National Residential Practice Leader of High Street Residential and Principal with Trammell Crow Company. “Equally exciting is the opportunity to help facilitate the creation of market rate and affordable units, in cooperation with Somerset and Rose, at a time when housing affordability continues to be a major issue.”