Donohoe, AIMCO Wrap Up DC Office Conversion

The developer broke ground on the $300 million project in 2021.

A joint venture between Donohoe Development and Apartment Investment and Management Co. has opened the final phase of Upton Place on Wisconsin, a 689-unit luxury community in Washington, D.C. In 2020, the project became subject to a $174.2 million construction loan from Bank OZK, according to Yardi Matrix data, and broke ground the following year.

The $300 million development is the adaptive reuse of aging office buildings that Donohoe developed in the 1980s and were occupied by Fannie Mae. The former Fannie Mae headquarters, located nearby, was also redeveloped as a mixed-use community dubbed City Ridge.

Upton Place on Wisconsin, up close

Designed by SK+I Architecture, the property comprises two distinct buildings, the 234-unit Parc and the 455-unit 4K Wisconsin. Their unit mix includes studio, one- and two-bedroom floorplans, along with penthouse layouts, ranging from 576 to 1,378 square feet. Of the total, 65 units are designated as affordable. The project is proposed for LEED Silver certification, as it features solar panels on a green roof.

Common-area amenities include multiple courtyards, two swimming pools, coworking areas and a commuter lobby. The property also boasts an expansive 105,000-square-foot retail component, which will be partly occupied by a 55,000-square-foot OneLife Fitness gym and a 30,000-square-foot Lidl grocery store, and an 800-space restored parking garage. Additionally, starting this spring it will host Placemakr, a 150-key temporary pop-up hotel.

Located at 4000 Wisconsin Ave. NW, Upton Place is some 4 miles from Lafayette Square and within walking distance of the Tenleytown–AU subway station. The property is adjacent to the Glover Archbold Trail, for which the developers installed new signage, in collaboration with the National Park Service and the Rock Creek Conservancy, while also removing invasive species and planting native trees.

Equal development starts and completions in D.C.

Throughout 2023, developers brought 35 properties to market for a total of 8,424 units, while construction started on the same number of projects totaling 8,213 residences, according to Yardi Matrix information.

Recently, American Real Estate Partners and Silverpeak broke ground on a 200-unit luxury office-to-residential conversion in the metro, supported by a $62 million loan from Bank OZK. Completion is expected in 2025.

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