From a press release:
“Madison Investments, a family owned and operated real estate development firm located in the nation’s capital, alongside Atalaya Capital Management, a New York-based investment manager, is pleased to announce the closing and project commencement of Collection 14 at 2102-2124 14 Street, NW, and 1400 W Street, NW, 20009, along the vibrant 14 Street corridor. The purchase of these landmark addresses from Martha’s Table, as well as their adjoining properties, affords Madison Investments the opportunity to transform this important block in the city, incorporating historic facades melded with energy efficient new construction. A historic brick garage is the central focal point of the expansive project, showcasing the attention to preservation detail as Collection 14 retains an urban intimate scale pleasing to pedestrians with a vibrant retail experience, while introducing dynamic new construction.
Within Collection 14, Madison Investments will present 25,000 square-feet of retail venues, 5,300 square-feet of office space, 4,000 square-feet of event space that will also be a platform for promoting the arts along with an expansive lobby. Additionally, the plans include constructing 233 apartment units. Tenants will find bright open floor plans with modern, sleek fixtures, stone countertops, blonde wood tones and a variety of innovative floor plans, some with balconies.
Collection 14 is one of Washington’s largest landmark redevelopment projects in the last decade. Madison Investments and Atalaya Capital Management partnered with Criterion in New York as a mezzanine partner and Bank OZK as the senior lender.
“This project further demonstrates our ability to provide creative capital solutions to our partners,” states Young Kwon, head of real estate for Atalaya Capital Management. “We are excited to work alongside the quality development team at Madison Investments to deliver a best-in-class multifamily property to such a dynamic location in the District.”
Residents at Collection 14 have all the conveniences of the bustling 14 Street corridor at their disposal, along with amenities such as a fitness center, dog-washing station, electric car charging stations for several vehicles, and a Vespa parking section. The common space has also been appointed with firepits, grills, indoor and outdoor entertainment areas and an expansive rooftop area. Design Army has been selected to assist with creative plans for the common spaces throughout the buildout as well as spearheading all of the graphics and marketing for the project as a whole. Additionally, No Kings Collective will be creating a large-scale mural along the alley, providing a fresh urban accent to the streetscape, while the entrance to the residential component of the project will be located on W Street, NW for a sense of intimacy and privacy.
“We are extremely excited and honored to have been selected to purchase and develop this outstanding project as it is a legacy asset and one of the last large-scale parcels within the District,” states Barry Madani, co-founder and CEO of Madison Investments. “Our team has spent considerable time developing a plan that gives a nod to the past, retaining three important historical elements to provide the inviting streetscape we wish to retain, while embracing the future, as we continue to bring positive change to the neighborhood. We look forward to showcasing this mixed-use development with a large retail component and our future residents can look forward to exciting amenities such as yoga classes on our rooftop oasis and a private event rental space ideal for a wedding or large celebration. Furthermore, When Collection14 is completed in 2021 the mixed-use development will encompass a dedicated and unique 4,000 square-foot event space that will also be a platform for promoting the arts. Plans are still being finalized, but we are eager to host pop-ups which showcase a range of local artists to help promote the talent found here in the nation’s capital. We find it’s important to invest in the society in which we build to create a stronger community.”
Sia Madani and Barry Madani founded Madison Investments in early 2006 with a small four-unit apartment project in Capitol Hill. The company has gone on to create several successful projects, winning multiple awards. The most recent projects are a 32-unit, ultra-luxury eight-story project called Elysium Logan at 1427 Rhode Island Ave NW, 20005, a 49-unit project a few short blocks from Barracks row, in Capitol Hill called Kipling House, located at 900 11th Street, SE, 20003 and a boutique 15-unit, ultra-luxury condominium called 11Q at 1101 Q Street, NW, 20009.
Madison Investments philosophy and approach to each development is to create projects that leave a lasting impression on the neighborhoods to which they reside. Every property is developed with great attention to detail and all of this is brought about through careful collaboration with designers, architects and consultants and the community at large.”