RCP Development and Crescent Communities have submitted plans for a 558-unit apartment building at the site of the South Capitol Street corridor McDonald’s.
The building would be at 2 Eye St SE, near the Southeast Freeway ramp. The site is still owned by McDonald’s Corp and has an assessed value of $22.6M, the Washington Business Journal reports. Plans call for a 558-unit building at a height of 130 feet with ground-floor retail. Construction at the 57k SF lot is expected to be completed in two phases.
This is the second project in the works for RCP on Eye Street. The company is working with Greystar on a project at 82 Eye St SE, a lot the partners acquired last year for $12.2M with plans to co-develop a 13-story, 227-unit apartment building with ground-floor retail. [WBJ]
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