Construction Starts on 603-unit Project in NoMa
Washington, D.C., March 9, 2011 – The second phase of NoMa development has begun in earnest, as Mill Creek Residential Trust LLC announces the start of construction on 603 residential units in the northern area of the NoMa BID, on the southern edge of Eckington. NoMa is DC’s fastest growing neighborhood.
Mill Creek closed on financing with Berkshire Income Realty Inc. and PNC March 8. They will break ground Monday on the development, the largest single-phase residential project in DC’s recent history. The development includes 603 apartments, 1,250 SF of retail, 570 parking spaces, and a slew of amenities, including a theatre room, a billiards area, two pools, a large fitness center, and two business centers. The project will also include a small park open to the public. The site is located on Eckington Place, NE, just north of Harry Thomas Way, NE.
“We’re excited to continue the growth of the NoMa neighborhood, and to extend the development north of Florida Avenue,” said Sam Simone, Managing Director of Mill Creek Residential Trust, LLC. The principal partners in the Dallas-based Mill Creek were formerly part of Trammell Crow Residential.
“Projects like NoMa West exhibit NoMa’s continuing endurance in the marketplace, with increasing development and investment activity, and residents and employees moving in,” said Liz Price, President of the NoMa Business Improvement District. “This next phase of residential is starting at a critical time, as our existing apartments are leasing rapidly.”
The Flats 130 at Constitution Square leased 40 apartments in February, doubling their projections for the month, which is typically slow. The Flats 130 is 31 percent leased. Loree Grand at Union Place, a 212-unit building at Third and K Streets, NE, opened last June and is now more than 75 percent leased. More apartments are on the way, Archstone NoMa, a 469-unit luxury apartment building broke ground last summer at First and M Streets, NE. The construction just reached ground-level in the last week. Constitution Square Phase II will break ground within the next few months on 345,000 SF of office space and 203 residential apartments.
All told, more than 1,400 residents have moved into the neighborhood since May 2010, and the retailers are following quickly, making NoMa a true round-the-clock neighborhood. Eight new retailers opened in 2010; Roti Mediterranean Grill and CVS have already opened in 2011. The Perfect Pita, Todd Gray’s Watershed, and Chef Gillian Clark’s Kitchen on K Street all open within the next few months.
NoMa is a vibrant, growing 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.