Toll Brothers Unveils New Name, Details For 1,100-Unit D.C. Project Ahead Of 2022 Delivery
The under-construction redevelopment of D.C.'s Sursum Corda housing project is coming into clearer focus ahead of its planned summer 2022 delivery.
The Toll Brothers-led development team announced Monday it has branded the 1,100-unit project as Banner Lane, and it unveiled new renderings and details on its first phase.
The 6.7-acre development site, formerly the Sursum Corda housing community, is bounded by M Street, First Street, L Street and First Place NW. Toll Brothers acquired the property from the Sursum Corda Cooperative Association in 2018 for $60M, and it agreed to provide 127 replacement units for Sursum Corda residents in the first phase.
Toll Brothers is partnering on the project with GSLM Capital Partners, a joint venture of New York-based L+M Development Partners and Goldman Sachs Urban Investment Group. WDG Architecture designed the project.
The Zoning Commission approved the project in 2019, and in December 2020, Toll Brothers announced it landed $160M in construction financing from Citi Community Capital and the D.C. Housing Finance Agency, allowing it to break ground. A Toll Brothers spokesperson said the project's first phase is scheduled to deliver next summer.
The development's first phase consists of two buildings totaling 561 units and 25K SF of amenity spaces. The units will range from studios to four-bedroom apartments, and 118 of them will be set aside as affordable.
The southwest building will have 216 units and amenities including a second-floor pool, a coworking lounge and a children's playroom. It will also have a series of fitness spaces including a cardio and weightlifting gym, a yoga and cycling room, and an outdoor yoga deck.
The 345-unit southeast building's amenities include a coffee bar, coworking space, game room, full-service kitchen and dining room, a greenhouse with gardening stations and an indoor-outdoor rooftop deck.
The first phase is planned to include an acre of public open space. It will also have a new street connecting First Street and First Place called Banner Lane, after which the development is named.
At full build-out, the development is slated to have four buildings totaling 1,100 units, with 199 of them affordable, and 19K SF of retail.
“We are thrilled to have the opportunity to write a new chapter for this historic neighborhood,” Toll Brothers President Charles Elliott said in a release. “Banner Lane will realize our vision to develop a brand that will embody authentic, local character and stand out as a genuine place that embraces local culture, arts, and District pride.”
The project sits in between NoMa and Mount Vernon Triangle, two of D.C.'s fastest-growing neighborhoods over the last decade. It is also one block north of the Northwest One project, a 750-unit redevelopment of the Temple Courts community led by MRP Realty.