Work Begins on Catholic University Project
- Nov 10, 2011
Abdo Development, The Bozzuto Group and Pritzker Realty Group have started work this week on a project that will change the face of Washington’s Brookland neighborhood. It will transform The Catholic University of America’s South Campus into a vibrant mixed-use, transit-oriented community.
The 885,000-square-foot, $200 million, pedestrian-friendly project will occupy five blocks at Catholic University’s South Campus, adjacent to the Brookland Metro station and just three miles north of the U.S. Capitol Building. It will be developed in phases and will include approximately 720 residential units, 45 townhomes, 83,000 square feet of street-level retail, 15,000 square feet of artist studio space, a 3,000-square-foot community arts center and 850 parking spaces.
A 562-unit multifamily building with ground-level retail space will comprise the first phase. Plans also include streetscape and hardscape improvements, which will greatly impove traffic and walkability, creating a pedestrian-friendly atmosphere.
The project is being financed in part by a large infusion of cash from the Pritzker Realty Group. It represents the first equity commitment by the Bozzuto/Pritzker Realty Group joint venture.
Developers hope to capitalize on the strong demand for rental housing in the Washington area. The project represents just a fraction of thousands of planned residential units to be built in Washington, but the developers are not worried. They hope to take advantage of the fact that Brookland has seen little new construction in recent years. They have not yet decided how many units will be for rent and how many for sale. The first phase won’t be completed until mid-2013.