(Read more on the multifamily market.)
WASHINGTON, DC-JPI has broken ground on 900 New Jersey Ave., a13-story tower here in the District's Baseball neighborhood. Thisproject is the third of four planned apartment buildings thedeveloper is constructing at the $500-million mixed-use project,Capital Yards.The tower will contain 237 residential units and6,000 sf of retail. Development costs for 900 New Jersey Ave. areroughly $87 million, EVP Greg Lamb tells GlobeSt.com.
Next year, JPI plans to break ground for its final building, 23Eye St., with 421 residential units and up to 35,000 sf of retailspace. When completed, Capitol Yards will add over 1,325 new unitsto the neighborhood.
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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.
