WC Smith Starts Construction on 800 New Jersey Ave.
- Jun 11, 2014
On June 9, WC Smith announced the start of construction on a new residential building. The building, 800 New Jersey Ave., S.E., is the second of three high-quality residential buildings WC Smith is constructing on a three-and-a-half-acre site at New Jersey Avenue, H Street and Second Street S.E.
The developer expects the entire construction process to take 28 months. When finished, 800 New Jersey Ave. will offer 336 luxury residential units, each with 10-foot ceilings. It will also include a 35,000-square-foot Whole Foods Market.
“The construction of the new Whole Foods Market at 800 New Jersey Ave. illustrates the demand for full-service retail in the Capitol Riverfront and how we are becoming a retail shopping destination for the city. The Whole Foods grocery is a game-changer for our neighborhood and is another level of retail services for our growing residential population,” said Michael Stevens, president of the Capitol Riverfront BID, in a statement for the press.
The building’s residents will have access to all the facilities in the three buildings. The complex will feature amenities such as club rooms, game rooms, rooftop pools, an indoor lap pool, exercise facilities, dog walk areas, a demonstration kitchen and a 15,000-square-foot courtyard.
“We are pleased to move forward with 800 New Jersey Ave.,” said Chris Smith, CEO of WC Smith. “The distinctive amenities at 800 New Jersey Ave. will set a new standard for residential development, and the Whole Food Market will be a terrific asset for the growing Capitol Riverfront neighborhood.”
WC Smith secured $87 million in construction financing at the end of 2013. SunTrust Bank is providing the loan, with portions syndicated to other WC Smith relationship banks, BB&T Bank and PNC Bank.
The three-building complex is located within walking distance of both the Navy Yard and Capitol South Metro stations, adjacent to the newly created Canal Park. Park Chelsea, the first of the three buildings, is expected to open next spring. It will have 432 units. A third residential building will add 393 more Class A apartments.
Photo credit: WC Smith