WASHINGTON, DC-Ground has just broken on a new 257-unit luxury condominium, Jenkins Row, which will occupy a spot in the District's Capitol Hill submarket. Developer JPI revealed plans for the multifamily endeavor in October and expects to wrap up development of the property in December of next year.
While Jenkins Row will help feed the still heavy demand for condominiums in the Nation's Capital, it will also provide an added amenity to the neighborhood--a retail segment. Already, a Harris Teeter grocery store has committed to opening a 47,000-sf market in the building's ground-level area. And supermarkets--as JPI discovered in its pre-proposal research with area residents--are highly desirable in the area. In addition to the market, which is scheduled to debut in the spring of 2007, the building will feature an extra 5,000 sf of retail space.
Situated on Pennsylvania Avenue between 13th and 14th streets, it is near the Potomac Avenue Metro Station. To that end, JPI will incorporate surface parking spaces to accommodate the retail customers and a dual-level underground parking facility with space for 385 vehicles for customers and condo occupants, alike.
Market numbers indicate that the seemingly endless flurry of condominium projects in Washington, DC will hardly have an adverse effect on interest in the Jenkins Row property. Baby Boomers are driving the demand for condominiums in the District, according to Delta Associates' Year End 2004 Class A Apartment & Condo Report, and the "sales pace remains healthy, despite the ever-increasing pipeline and increased competition."
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