Grosvenor Opens 260-Unit Community in DC

The property is subject to an $80.6 million construction loan.

Margarite Balcony

Margarite balcony. Image courtesy of Grosvenor

Grosvenor has opened Margarite, a 260-unit multifamily community in Washington, D.C. The property is subject to an $80.6 million construction loan from Capital One Bank originated in 2021, according to Yardi Matrix data. Architect ParkFowler Plus designed the property, in collaboration with SCAPE Landscape Architecture.

Rising 13 stories, the community comprises one-, two- and three-bedroom floorplans, as well as penthouse units, all ranging from 493 to 1,686 square feet. All apartments feature in-unit washers and dryers, and more than half the residences incorporate private outdoor space and floor-to-ceiling windows.

Common-area amenities encompass a fitness center, coworking space, rooftop lounge, pet spa, private dog park and on-site EV charging stations. The property also includes a 6,000-square-foot pocket park and roughly 6,300 square feet of retail.

Located at 1280 Union St. NE, the property is off Highway 50 and less than 3 miles from downtown Washington, D.C. It is adjacent to Union Market and Gallaudet University, with numerous retail and dining options in its vicinity. The community is also within walking distance of the NoMa-Gallaudet U New York Avenue subway station.

At the start of the year, Washington, D.C., had 32,872 units under construction along with 215,000 additional apartments in planning and permitting stages, according to a recent Yardi Matrix report. Last year, 11,917 units were delivered—within the metro’s five-year average of 12,876 units per year—as development activity was mostly unaffected by pandemic headwinds, the same source shows.

You May Also Like