Perseus Signs Corporate Housing Provider At Major NoMa Development
The developer of a 500-unit mixed-use project in NoMa has leased a chunk of the building to a corporate housing provider after breaking ground late last year.
Perseus TDC signed a 10-year lease with Churchill Living to manage 104 of the units at the project previously known as Storey Park at the intersection of First and L streets NE, the Washington Business Journal reports.
The developer rebranded the project to NoMa CNTR after scrapping a public park that had been planned for the development. It broke ground late last year on the project, featuring 500 units, a 235-room Marriott hotel and 40K SF of retail.
The project is expected to deliver in late 2022. Perseus TDC, an affiliate of Transwestern Development Co., is partnering with Four Points LLC, Sunwater Capital and the Buccini/Pollin Group on the project.
Churchill, which provides furnished housing for short-term renters, has existing locations in Northwest D.C., Arlington and Bethesda. The company also has a furniture rental business, and it is in talks to open a showroom in the project's retail space, the WBJ reports.
Corporate housing concepts have grown quickly in the D.C. area in recent years, as the transient nature of the city attracts operators renting out short-term units. Short-term housing providers in the market include Zeus Living, Oakwood, Blueground, CorpHousing Group, Sonder and WhyHotel, which previously operated a pop-up location a block from the new Churchill property, at 100 K St. NE.
CORRECTION, JULY 13, 5:15 P.M. ET: A previous version of this story incorrectly stated that WhyHotel operates a pop-up hotel at 100 K St. NE. That location closed in 2019.