Washington, DC – StonebridgeCarras broke ground today on a speculative 345,000 SF office building at 199 N Street, NE, immediately adjacent to the New York Avenue Metro Station.
As part of the flagship Constitution Square development, the building was designed by HOK to LEED Platinum standards. The project is financed by Walton Street Capital and M&T Bank.
The first phase of Constitution Square, a 1.6 million-square-foot mixed-use project in the heart of NoMa, delivered in 2010. The seven-acre project includes a 589,000-square-foot building fully leased by the U.S. Department of Justice and a second office building with 340,000 square feet leased by the General Services Administration; 80,000 square feet of retail space including a 50,000-square-foot Harris Teeter grocery store; 440 apartments at Flats 130 and a 204-room Hilton Garden Inn. The Hilton Garden Inn holds Todd Grays Watershed, which features seafood from the Eastern seaboard. StonebridgeCarras broke ground in May on a 203-unit addition to the Flats 130.
This community is no longer in development, it has developed, said Congresswoman Eleanor Holmes Norton, lauding the commitment of the private sector to ensure the NY Avenue Metro Station was built in 2004. It is full of people day and night, and young people have flocked into NoMa.
NoMa has gone through an amazing transformation, said Doug Firstenberg of StonebridgeCarras, touting the 300 residents who have moved into the Flats 130 already. When you bring in a grocery store, it makes a neighborhood.
More than 1,400 residents moved into NoMa in 2010 alone, and leasing continues rapidly at Flats 130 and the Loree Grand at Union Place, a 212-unit apartment building at 250 K Street, NE. Five residential projects are under construction now in NoMa, constituting 1,500 residential units that will begin delivering in early 2012.
NoMa is a vibrant, connected neighborhood north of Union Station and the U.S. Capitol in Washington, D.C. In the last five years, private developers have invested more than $3 billion in the 35-block area covered by the NoMa BID, and have plans to develop more than 20 million square feet of office, residential, hotel, and retail space. In 2010, more than 6,000 people moved into NoMa to live or work; and eight new retailers opened for business. NoMa has 15 modes of transportation, including two Red Line Metro stops, and the best biking facilities in DC, with the only East Coast Bikestation, the 8-mile Met Branch Trail, and six Capital Bikeshare stations. For more information about NoMa, visit nomabid.wpengine.com and sign up for our bimonthly newsletter. Follow us on Twitter @NoMaBID; or Facebook at www.facebook.com/nomabid.
For immediate release
News media contact: Rachel Davis
202-289-0111, [email protected]