WASHINGTON, DC—Wall Development will deliver shortly 16 new condos at 1115 H St., NE. The five-story, mixed-use project is the site of a former Woolworth store. As a mixed-use condo building, it has been designed to achieve LEED Platinum certification. Square 134 of Washington, DC is the project architect.
Urban Pace, which is marketing the 16,000-square foot project, has begun taking reservations from prospective buyers. The units are expected to price from the mid $300,000's.
1115 H St. joins a growing inventory of condo product in the District, but sales remain high, according to new figures from Delta Associates.
Condo sales activity during the third quarter reached the highest quarterly total in nearly two years despite weak job growth and apartment absorption at record levels, it said. Metro-wide, there were 453 net sales in the third quarter, up 7% from the same period in 2013.
"We expect that the fourth quarter of 2014 will also see an increase in sales due to a number of new projects that will begin sales in the next few months in product-starved submarkets," Delta also said in its report.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
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.
