WASHINGTON, DC—High Street Residential, Trammell Crow Co.'s residential subsidiary, has partnered with site owner Central Armature Works to redevelop one of the few industrial uses remaining in NoMa: the existing electrical repair and supply warehouse at 1200 3rd St., NE.
They will build a mixed-use development with for-sale and rental residential units, neighborhood retail and a hotel.
The warehouse is located on a 2.5-acre development site next to the NoMa Metro station. The development team plans to take the site through DC's Planned Unit Development process to secure greater density development rights.
To be sure, this is not the last undeveloped site in NoMa. Earlier this week, Ditto Residential, Zusin Development and Sivan Properties filed a development application with the DC Zoning Commission to build an eight-story, 66,010-square-foot project at 301 Florida Ave. NE. The site is located one block away from the NoMa-Gallaudet Metro station. There is a single-story commercial building on it now that would be razed, according to the Washington Business Journal.
That said, these projects are more reflective of NoMa's early days as an emerging market. More typical deals seen in the submarket now are, for example, like JBG Cos.' acquisition of Trilogy NoMa, a 603-unit apartment building that traded for $215 million this summer.
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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.
