WASHINGTON, DC—Monument Realty has filed plans with DC's Zoning Commission to build a 163-unit residential project at 10 Van St., SE. The address is one block north of Nationals Park in the Half Street neighborhood.
Construction will begin in the spring of 2016, at the same time as Monument begins work on One M St., a 130,000-square foot build-to-suit for the National Association of Broadcasters. Both properties will deliver in 2018.
The 13-story, 176,485-square foot building will have a mix of units as well as townhomes. Gensler has designed the project.
Monument says it is still not sure if it will develop the project as an apartment or condominium, but based on founder Michael Darby's prepared comments it sounds as though the developer is leaning towards the condo option.
"Monument has had a great deal of success with ground-up condo development in the past," he says. "And given the tremendous amount of upside potential in the Capitol Riverfront, for-sale product feels like a good fit at this time."
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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.
