Residential Portion of CityCenterDC Opens
- Dec 19, 2013
Washington, D.C.—The Apartments at CityCenter and the Residences at CityCenter, two multifamily components in the mixed-use CityCenterDC in the nation’s capital, have started accepting residents. The 10-acre CityCenterDC has already leased 95 percent of its office space since that component opened in January, and sold more than 67 percent of its condo residences.
The Apartments at CityCenter is comprised of 458 rental units in two separate towers designed by Shalom Baranes. Amenities include a 3,200 square-foot, two-story fitness center, a rooftop dog walk, EV charging stations and a business center. The Residences at CityCenter are comprised of 216 condo units residences in two separate towers, designed by Foster + Partners.
The mixed-use property is a development of Hines and the TFI US Real Estate Fund. The anchor investor in the fund is Qatari Diar Real Estate Investment Co. (Qatari Diar), the real estate investment arm of the Qatar Investment Authority, which is the sovereign wealth fund of the State of Qatar. The fund is advised by Tanween, a Qatari real estate development management and consulting firm.
The development’s parking garage for residents and visitors is also now open. The new CityCenterDC garage will employ an automated parking guidance system and accommodates about 700 cars on two-and-a-half below-ground levels. Simultaneously, the developers have re-opened 10th Street and I Street adjacent to the property, marking the first time these thoroughfares have been accessible to the public in more than 30 years.
Construction of Phase I of the project began in early 2011 and is now substantially complete. Phase II is slated for a 2015 beginning, and will consist of a 370-room hotel and 73,000 square feet of additional retail. Phase III will be undertaken by another developer, Gould Property Co., and will consist of a 500,000 square foot office building and 40,000 square feet of retail space.