As Perseus Realty and Four Points prepare to break ground at NoMa's Storey Park later this year, the development plan is changing.
The developers are scrapping plans for a 346k SF office building and instead plan to build a 225-key hotel, the Washington Business Journal reports. In addition to replacing the office with a hotel, the new plan increases the number of multifamily units from 300 to 435. The project is slated to break ground in November and deliver in July 2019.
The changes come less than a year after First Potomac Realty Trust sold its 97% stake in the project for $54.5M. Before First Potomac sold its stake, the developers had said they would wait to start construction until they had an office tenant to anchor the project.
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