WASHINGTON, DC—It's official. DouglasDevelopment's proposed 13-story hotel at 1011 K St., NW ismoving forward.
Providence, RI-based TPG Hotels & Resortshas been selected as the operator. The flag, as Douglas Developmentnoted in its submission to the DC Board of Zoning last year, willbe the first Moxy hotel in Washington DC. Moxy is one ofMarriott International's new brands aimed at attracting youngertravellers and now it's arrival in the District isformally a go. TPG Hotels will provide technical developmentservices through the construction. The hotel is scheduled todeliver in Q1 2017.
Currently there are four late 19th century properties at thesite, abandoned and fenced off. Douglas plans to restore thesebuildings and incorporate them into the hotel structure.
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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.
