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The Hecht Warehouse At Ivy City Is Half Full

WASHINGTON DC 05.08.2017

MONTGOMERY COUNTY STATE OF THE MARKET

Featuring an Interview of Marriott CEO Arne Sorenson

Arne Sorenson -- Marriott International
Mike Gill -- The State of Maryland
Barry Glassman -- Glassman Wealth Services
The Hecht Warehouse At Ivy City Is Half Full

Douglas Development spared no expense to convert an old warehouse into residential units, and the development appears to be catching on with DC renters.

The company purchased the Hecht Warehouse in Ivy City in 2011, and subsequently redeveloped the circa-1937 building into 335 residential units. The apartments opened for business last November, and over half of them have already been scooped up, Urban Turf reports.

Bozzuto Management Company handles leasing and management for Hecht. The units range from studios to three-bedroom units, and feature polished concrete floors, stylish kitchens and open spaces. Retailers have been flocking to Ivy City, and the development features merchants including Mom’s Organic Market and Nike.

Looks like Douglas Development made the right call on Ivy City’s potential, and the company appears to have just as much confidence in the rest of Northeast DC, where it's building the Uline Arena project, the future home of Douglas Development’s offices. [UT]