By Dees Stribling, Contributing Editor
Washington, D.C.—Urban Investment Partners (UIP) has completed the renovation of a 1910-vintage apartment building in Washington, D.C., known as The Madeira. According to the developer, the property has been brought into the 21st century, with a range of modern amenities.
UIP acquired the building, with 26 dilapidated apartments, in a 2010 foreclosure auction. Since then, the company and its construction subsidiary, UIP General Contracting, have completed a $3.8 million total gut renovation that added seven new terrace-level apartments, two of which are ADA accessible, while restoring the building’s historic façade.
The redevelopment also involved the replacement of all mechanical, electrical, and plumbing systems, the roof and all windows. The lobby and hallways were modernized, and two stairwells and sprinkler systems were added.
Other, more specifically modern amenities now include controlled access, digital NEST thermostats and smoke detectors, and energy-efficient appliances. Each apartment is outfitted with combination USB charging outlets for charging of smartphones, laptops and other digital devices. Sixteen of the newly renovated apartments feature large balconies, some with views of the Washington Monument.
UIP manages about 3,000 apartments in the D.C. region and has renovated more than 20 downtown apartment buildings over the last eight years. The company’s main focus is working with residents in D.C. and helping them exercise their TOPA (Tenant Opportunity to Purchase Act) rights, as well as entitling land, developing new projects, and acquiring residential assets in close-in suburbs.