Part Triangle - Apartments, Retail, Columbia Heights
Factual Data: 117 apartments, 19,000 sq.ft. retail, 110 car garage, developed by Triangle Development Associates, LLC, including Ernest Marcus as co-managing member.
- Won competitive bid process for this WMATA site
- Ground lease negotiation with WMATA with option to purchase in 16th year.
- Construction financing
- Environmental contamination cleanup
- Design of mixed-use project in dense, urban location. Transit-oriented development won award from National Builder’s Association.
- Management of interior design process with unique, contemporary look including acquisition of significant portfolio of contemporary art.
- Construction of 6 story building above Metro tunnels directly beneath the site.
- Negotiations with city permitting office regarding public space issues
- Retail programming and leasing
- Full leaseup of first luxury apartment building in submarket in over 50 years, including unique marketing strategies.
- FNMA forward obtained and closed.
- Obtained New Market Tax Credits.