Monument Brings Micro-Hotel Concept to Chinatown
Want to get a jump-start on upcoming deals? Meet the major D.C. players at one of our upcoming events!
627 H St NW will not be the site of an 80k SF office and retail building, but rather a 245-room micro-hotel in a JV with Modus Hotels. Monument Realty principal Michael Derby had a change of heart after talking to Conrad Cafritz. The $60M Davis Carter Scott-designed project will feature smaller rooms with private baths. And there will be ground-floor retail, a restaurant, a bar and a roof deck, the Washington Business Journal reports. While the micro-hotel concept is new to Washington, it's doing well in New York. Darby believes the demand for hotel rooms in Chinatown will make the concept successful in DC as well. Construction is slated to start later this month with a 2016 delivery. [WBJ]