WASHINGTON, DC–Local developer Pecar Properties is building two condominium projects, with a total of 46 units, on former church-owned property just two blocks from the Potomac Avenue Metro station in Washington DC: Stone Flats at 1337 K Street, SE and Stone Hill condos at 1345 K St.

Presales have begun for the ten condos at Stone Flats' and residents are expected to start moving in this fall. Pecar has started site work for Stone Hill, an adjacent 36-unit condominium building scheduled to deliver in Fall 2017, on the site of the former Mount Paran Baptist Church. HRG Design Build provided design and construction services for Stone Flats. Monument Bank provided construction financing.

Pecar acquired the Mount Paran Baptist Church and several adjacent properties from 2013 through 2015. Founded in 1917 in southwest Washington, the church has moved to a new and larger home in Clinton, MD.

S.L. Nusbaum Breaks Ground on Maryland Apartment

FREDERICK, MD–S. L. Nusbaum Realty has broken ground on The Fred, a 240-unit apartment community in in the Waverly View Planned Neighborhood Development.

S.L. Nusbaum Realty secured a total of $50 million in financing from a variety of sources including the Maryland Community Development Administration, AGM Financial Services, Wells Fargo Bank, and Boston Financial Investment Management.

Morgan-Keller Construction Co. is the General Contractor. The Fred is expected to deliver in early to mid-2018.

Steady gains in the US economy have resulted in net positives for the multifamily sector—will this wave continue for the foreseeable future? What's driving development and capital flows? Join us at RealShare Apartments on October 19 & 20 for impactful information from the leaders in the National multifamily space. Learn more.

S.L. Nusbaum Breaks Ground on Maryland Apartment

FREDERICK, MD–S. L. Nusbaum Realty has broken ground on The Fred, a 240-unit apartment community in in the Waverly View Planned Neighborhood Development.

Morgan-Keller Construction Co. is the General Contractor. The Fred is expected to deliver in early to mid-2018.

Instant Insights /

Pecar Properties' Church-to-Condo Projects

Related Stories

Recommended For You