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For the second time this year, Akridge has broken ground on a spec office project in D.C.'s Central Business District.
The developer, in partnership with Stars Investments, celebrated the groundbreaking Thursday at 1101 16th St. NW, where it is building a 100K SF trophy office building designed by HOK.
The site was previously home to the American Association of University Women and the American Beverage Association. Akridge is transforming the two aging, Brutalist-style buildings on the site into a single, trophy-level office building. It will feature a fitness center, a penthouse lounge and a rooftop terrace with views overlooking the White House. The project, financed by EagleBank, is expected to deliver in fall 2018.
"The project's boutique size will give small and medium-sized clients a prominent identity on one of D.C.'s most powerful streets," Akridge President Matt Klein said in a release.
In March, Akridge broke ground on the redevelopment of the old YMCA building at 1701 Rhode Island Ave. NW. It is also turning that property into a trophy office building, this one just slightly larger at 102K SF.
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