Donohoe Construction Co. is spearheading the actual buildingactivities on behalf of the developer. According to a May 2004presentation by WRIT, the estimated investment for the developmentis $56 million. The project cost is unique in that the price of itsland came in at less than half the average per-unit market cost. Asper the presentation, "imbedded excess density, acquisition ofadjacent parcels and development rights created opportunity forrezoning," resulting in a $21,000 per-unit land cost.

The project, designed by Architects Collaborative, consists of anine-story residential structure at 1650 Wilson Blvd. and a15-story tower at 1601 Clarendon Blvd. A two-story undergroundparking facility will grace the mid-rise, 46-unit structure, whilethe 178-unit tower will feature a five-level underground parkinggarage. Additionally the building at 1650 Wilson will offer 5,000sf of retail space. Rosslyn Center will also feature a fitnesscenter, club/community room and a game room. Donohoe expects towrap up construction of the apartment community in the fall of2006.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.