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WASHINGTON, DC-Construction has started on Madrigal Lofts, a 259-unit condominium property here. The project marks the second phase of the 2.1 million-sf Mount Vernon Place project, which is a mixed-use development endeavor of Quadrangle Development Corp. and the Wilkes Co.

The price tag for Madrigal Lofts’ development is $55 million, according to a fourth-quarter 2004 report issued by the city’s Downtown Business Improvement District. Glen Construction is spearheading the building of the structure.

Located at 340 I St. NW, Madrigal Lofts will be one of 11 structures within Mount Vernon Place, which will ultimately feature one million sf of residential space and one million sf of office and retail space designed by the architectural firm of Hartman Cox Associates. Madrigal Lofts is the second residential building at Mount Vernon. The developers began construction on the $23-million, 78-unit Sonata condominium structure about four months ago and have scheduled a completion date for late 2006.

“There’s a lot of demand,” a spokesperson for Madrigal Lofts tells GlobeSt.com. “People want to be downtown.” Madrigal Lofts is scheduled to deliver in mid-2007.

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