As Rents Rise, This New Condo Seizes Advantage
- Jan 08, 2015
Washington, D.C.— P.T. Blooms is developing Banneker Hill, a seven-home condominium in Washington, D.C.’s burgeoning 14th Street corridor.
“This is our first ground-up condominium development, so we wanted to create something singular that can become the foundation for our brand going forward,” Patrick Bloomfield, P.T. Blooms’ principal, tells MHN. “In addition to its great location, Banneker Hill is a small boutique property with just seven homes, so there is a feeling of privacy that you don’t get in a large, bustling multifamily building.”
Located at 1436 Chapin Street NW, each home features striking modern design and unique, upscale finishes. Each condo will feature one-of-a-kind cabinetry and millwork, stainless steel appliances, Silestone quartz countertops with waterfall edges, subway tile backsplashes, floating vanities, square undermount sinks and contemporary fixtures. In addition, there is a central courtyard that provides a sense of spaciousness as well as additional natural daylight for all of the condominium homes.
“Our contemporary minimalist design provides a tranquil, almost Zen-like living environment,” Bloomfield says. “Because of the small footprint of this property, most of the amenities are all built into the units, including wonderful views from the upper levels, custom cabinetry and millwork, and other luxurious details.”
The building’s location is on a quiet side street just a half a block from the heart of the vibrant 14th Street corridor with dozens of hip restaurants, shops and entertainment venues. A half block in the other direction is the historic, serene atmosphere of Meridian Hill Park.
The development also has a “walker’s paradise” Walk Score of 95, with easy access to the 14th and U Metro station and other public transportation options.
“The demand for condominiums in the city’s most desirable neighborhoods continues to rise as interest rates remain low and many renters are ready to make the commitment to own their own homes,” Bloomfield says. “As rental rates continue to rise, the costs of condo ownership can be lower than renting.”