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Dec. 5, 2013

Aria Completes DC Apartment Renovation

By Dees Stribling, Contributing Editor

Washington, D.C.—Aria Development Group completed renovation on The Bond, making it into an 83-unit apartment community in Washington’s West End neighborhood. The company acquired the property last year, and recently finished making $10 million in renovations.

The previous owner of the building, which is at 1230 New Hampshire Ave. NW, was the International Monetary Fund, which used it for corporate housing. Among the features added to the property during the renovation are a fitness center, full-service concierge, Wi-Fi and a car share program featuring a Fiat 500.

The Bond is also highly walkable. In fact, the property has a perfect 100 Walkability Score. It also features “learning” Nest thermostats in every unit, a kind of technology that learns to regulate temperature according to the occupant’s comings and goings.

The property is nearly 90 percent leased, and most of the residents have moved in. To celebrate stabilization of the project, the developer held a ribbon-cutting reception, and announced a $5,000 donation to Martha’s Table, which provides food, clothing and access to education for needy residents of the District.

Rental rates at the Bond begin at $1,900, which is roughly comparable to costs in that part of the city. The property is the largest of several D.C. investments thus far by New York-based Aria Development Group, which also developed the oceanfront condo 321 Ocean in Miami’s South Beach, along with mixed-use projects in New York City’s SoHo and West Village.

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