Washington, D.C.—High Street Residential has partnered with Deutsche Asset Management to develop a 288-unit multifamily project located at 1441 U Street, NW, in Washington, D.C. High Street is an arm of Trammell Crow Co. that specializes in multifamily projects, especially urban and infill.
The development will also feature more than 15,000 square feet of retail in the U Street Corridor. Construction is scheduled to begin during the third quarter of this year, with completion in mid-2018.
1441 U Street will be adjacent to the Frank D. Reeves Center of Municipal Affairs, at a site that was once the home to the now-razed Portner Place Apartments. This site will also include Portner Flats, a new 96-unit affordable housing community fronting V Street that will be developed concurrently by a joint venture between Somerset Development and Jonathan Rose Cos.
The development, said Josh Dix, national residential practice leader of High Street Residential and a principal with Trammell Crow Co., is an “opportunity to help facilitate the creation of market-rate and affordable units, in cooperation with Somerset and Rose, at a time when housing affordability continues to be a major issue.”
Somerset Development is a Washington, D.C.-based firm that develops and preserves affordable housing and develops mixed-use properties. The company focuses on projects in the D.C. and Baltimore metropolitan areas. Jonathan Rose Cos. is a development, project management and investment firm.