Aria Delivers Mixed-Income Units to DC
- Jun 04, 2019
Aria Development Group has delivered its latest multifamily redevelopment, The Clifton, a 156-unit property with market-rate and affordable apartments in Washington, D.C. Located at 1315 Clifton St. in the 14th Street corridor, the building is one of several multifamily assets Aria has transformed in the city in recent years.
Cunningham Quill is the project architect and Cecconi Simone of Toronto is the interior designer. The common areas and model unit were curated by Katerina Mishelle.
The apartments range in size from studios to four-bedroom units. They all have nine-foot ceilings and many also have private balconies or terraces.
Aria acquired adjacent apartment buildings at 1309 and 1315 Clifton St. in 2014 and 2105. The developer incorporated the 1909 Italianate Revival-style front portion of 1315 Clifton St., retaining the block’s charm and sense of history. The original buildings’ residents were offered the opportunity to return to new apartments at their former low rental rates. Longtime residents who selected the option are due to move in during the summer.
Aria is among many developers in the Washington, D.C. region acquiring and renovating older properties. A Marcus & Millichap Multifamily 2019 Investment Forecast for the Washington, D.C. metro area noted 14,400 units are expected to be added to the market this year—a five-year high. Much of the investment activity is occurring in areas with older properties. The additional construction activity will nudge the metrowide vacancy rate up 20 bps to 4.6 percent, the report noted.
Joshua Benaim, founding principal of Aria, noted the New York City-based firm conducted a study to see what amenities people want in their apartments. One of the key recommendations, Benaim said, was a concierge-staffed delivery and pick-up area that includes cold storage for food and flowers, package lockers and dry-cleaning storage.
Other amenities include a rooftop terrace, chef’s kitchen and private dining room, controlled-access bicycle storage for up to 80 bikes along with a repair station and separate bicycle entrance, pet spa, cutting-edge fitness center, created in partnership with Homage Fitness, including Peloton bikes, as well as smartphone-controlled Nest thermostat in every unit.
The property was designed to achieve LEED Silver designation and has many environmental and sustainable features including a green roof and permeable pavers, electric vehicle charging stations, high-efficiency windows and insulation, a cool roofing system and water-efficient landscaping. Residents can also apply for free Capital Bikeshare and car-sharing memberships. Two Metro stations are within walking distance.
Aria also agreed to work with members of Advisory Neighborhood Commission IB to provide a community benefits package, including making capital improvements at several area buildings offering a variety of services, including the Creative Minds Childhood Development Center at Wardman Court and Columbia Heights Community Center. The firm is also planting trees and making other greening initiatives.
Other Aria Projects
The real estate development and investment firm focuses on urban infill multifamily and mixed-use properties in neighborhoods in DC, Miami and Brooklyn, N.Y. Other DC multifamily assets include The Bond, The Alden and The Remington. The Bond, an 83-unit apartment property at 1230 New Hampshire Ave., NW, began leasing in December 2013. Aria had acquired the building in 2012 from the International Monetary Fund, which had used it as corporate housing.
In February, One Boerum Development Partners LLC, a joint venture of Aria, Allegra Holdings and Avery Hall Investments, secured $165 million to develop One Boerum Place, a luxury mixed-use condominium building in downtown Brooklyn with 122 units and ground-floor retail.