WASHINGTON, DC—Stick a fork in the soon-to-be-delivered Maples condo project in Capitol Hill, it is largely done. The project is 70% presold at prices roughly $200 per square foot over original expectations. Sales are averaging about $725 per square foot, according to Urban Pace, which is marketing the project.
A small condo project, as most are in the District these days, The Maples is located close to Eastern Market and is scheduled to deliver by the end of the year.
Altus Realty Partners acquired the site at 619 D St., SE in 2010, and began redeveloping the historic brick manor house, which was built in 1795. Francis Scott Key owned the property at one point.
Altus preserved and restored the historic Georgian façade and added a new underground parking garage. It also built three new townhomes to join the six original buildings.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
