Joint Venture Begins Construction on 84-unit Condo Community in Capitol Hill
- Mar 19, 2014
Washington, D.C.—Construction is underway on the second largest condominium development project in Washington, D.C., since the economic downturn. The project, The Maryland, is being developed by a Valor Development and DBT Development Group joint venture and Urban Pace, which specializes in condo sales and marketing, and will begin pre-sales for the residences in May.
The Capital Hill community will house a mix of one- and two-bedroom residences for a total of 84 units. Prices will range from the $300,000s to $500,000s.
“With interest rates that are still low and the D.C. Open Doors program, which provides down payment credit assistance to qualified buyers with annual incomes below $123,395, owning a condo at The Maryland will be less expensive than renting a comparable apartment in the same neighborhood,” says Urban Pace President Lynn Hackney.
The community is designed by PGN Architects and residences will feature upscale, contemporary finishes including hardwood flooring, Marblex quartz countertops with Kohler fixtures and Bosch or KitchenAid appliances. Units will also have full-size front-load energy efficient washers and dryers.
The project started more than three years ago, when the joint venture purchased the site which included the vacant Faith Bible Church and an adjacent lot that was occupied by a local car repair shop. The developers worked closely with the local Advisory Neighborhood Commission on planning and design of the community.
“The community helped design the façade, amenities, location of entrances and more,” says Will Lansing, a principal at Valor Development. “They wanted a building with the look and feel of historic Capitol Hill residences, with detailed brickwork and window bays. Working with the community resulted in a better design and a better product.”
The community will be located at 1350 Maryland Avenue NE at the eastern edge of Capitol Hill and Washington’s H Street Corridor. After years of neglect following the 1968 riots, H Street has seen renewed interest in the last decade from developers and businesses that have worked to revitalize the once-thriving area. Some of those destinations include the refurbished Atlas Theater, H Street Playhouse, Rock and Roll Hotel, Toki Underground, Smith Commons, H Street Country Club and more.
“The Maryland is located at the confluence of Capitol Hill and the H Street Corridor, which has been named by Forbes magazine as one of ‘America’s hippest neighborhoods’,” says Lansing. “Residents will be surrounded by stately, historic Capitol Hill townhomes, yet just a block from H Street with its diverse selection of restaurants, shops and entertainment venues.”
Additionally, the neighborhood will see the reintroduction of street car service after a more than 50-year absence. The DC Streetcar that will operate on H Street will run between Union Station and The Anacostia River and is expected to begin service later this year.