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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.
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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.
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