Apartment Renovation Completed in D.C.
Urban Investment Partners has completed a $2.7 million full-building restoration of 346 Park Road NW in the Washington neighborhood of Columbia Heights.
By Dees Stribling, Contributing Editor
Washington, D.C.—Urban Investment Partners (UIP) has completed a $2.7 million full-building restoration of 346 Park Road NW in the Washington neighborhood of Columbia Heights. The building will continue to be operated as a rental property and is currently in active lease-up.
The gut renovation transformed 21 original one-bedroom units into 28 mostly two-bedroom, two-bath residences, including seven apartments added to the terrace level. The building has new plumbing, electrical, HVAC systems as well as a new roof, windows, and condo-level finishes. UIP opened the original balconies on the front of the building, restored the original façade design, re-planted an interior garden space, and replaced previously added windows that were inconsistent with the original historic exterior.
The renovation work, performed by UIP General Contracting, also provided the remodeled apartments with new appliances, kitchen islands with bookshelves and granite tops, glass tile backsplashes and renovated wood floors. UIP Property Management has taken over day-to-day management of the building.
Before the renovations, a number of longtime 1346 Park Road residents temporarily moved into other apartments for the duration of the work. Now these residents are moving back into their newly remodeled apartments at their original rent-controlled rents, as specified by D.C. rent-control law. UIP is covering all moving costs for these longtime residents.
For the time being, the property will be a mixture of rent-controlled units and market-rate units, as the property was before the renovation. However, as there is turnover from the rent-controlled units, the building will become more market-rate (occupancy in D.C. rent-controlled units cannot generally be passed along to future residents).
