Pecar Properties Turns Up the Luxury in DC
- Aug 29, 2016
Washington—Pecar Properties has found the perfect location for a new luxury condominium project in Washington, D.C. The boutique developer is constructing two condo buildings totaling 46 units on a former church-owned property just two blocks from the Potomac Avenue Metro station.
According to the developer, the area is currently experiencing a ‘church-to-condo craze’ that is now moving eastward, as home buyers seek out quieter neighborhoods. Gene Pecar was drawn to the neighborhood’s location on Capitol Hill. “It offers immediate access to Metrorail, Harris Teeter and major highways. At the same time, our site is on a quiet residential street a block and a half from Pennsylvania Avenue, creating a very comfortable environment for condominium ownership,” said Pecar in a statement.
Presales have already begun for Stone Flats at 1337 K St. SE., which will feature 10 luxury condominiums and is scheduled for move-ins in the fall. One-bedroom units at the community are priced from the high $300,000s, while two-bedrooms begin in the mid-$600,000s. HRG Design Build provided design and construction services, while Monument Bank provided financing.
Located at 1345 K St., the Stone Hill community is currently underway at the site of the former Mount Paran Baptist Church. The luxury property will offer 36 condominiums and is scheduled for delivery in the fall of 2017. Pecar Properties is developing the asset alongside Marcus Asset Group, headed by Ernie Marcus.
Pecar acquired the church site and several adjacent properties from 2013 to 2015, after developing condominiums in the Shaw/Truxton Circle and Capitol Hill neighborhoods. Residents at the two communities will have access to the historic Eastern Market and Barracks Row, home to a plethora of upscale restaurants.