In The Works: The Top 3 Developments Coming To Mount Vernon Triangle
655 New York Ave. NW
Developers: Douglas Development and Brookfield Property Partners
The Advisory Board, a healthcare and education consulting firm, has engaged Douglas Development and Brookfield Property Partners to build its new 756K SF facility at 655 New York Ave. NW. The Advisory Board will relocate its HQ from 2445 M St. to 532K SF at the property when completed in 2018.
The designers sought to re-create a vertical version of New York City’s iconic High Line, with an airy 11-story atrium. The NBBJ-designed tenant interior is open with many breakout areas to enable collaborative work.
The Shalom Baranes Associates-designed building will occupy a full block and integrate 12 distinct historic structural elements. To encourage the move, D.C. contributed a $60M corporate tax incentive package as The Advisory Board promised to create 1,000 new jobs in the District.
Developers: Mission First Housing Development, Golden Rule Plaza and Henson Development
Mission First Housing Development, Henson Development and nonprofit Golden Rule Plaza, a wholly owned affiliate of Bible Way Church, have joined to develop the $90M, 12-story, 223-unit Plaza West at 307 K St. NW.
A 50-unit portion will be reserved for “grandfamilies,” grandparents aged 55 and up earning between 30% and 50% of area median income while raising children under 17. According to officials involved in the project, situations where the parent is not present result in certain challenges that agglomeration and a sense of community help address. The remaining units will be primarily affordable, for those earning up to 60% of the AMI.
The grandfamily section will have its own entrance at 1035 Fourth St. NW and an exclusive library, kids activity room, fitness center and top-floor community room. Complex-wide amenities include underground parking, an on-site resident services center, 24-hour security/concierge and 9,500 SF of outdoor space with a courtyard, basketball court and garden.
Developers: The Wilkes Co. and Quadrangle Development
Wilkes and Quadrangle are embarking on their seventh joint venture in Mount Vernon Triangle at 400 K St. NW. Arriving there is the Davis, Carter, Scott-designed 14-floor, 324-unit Lydian. It is adjacent to the Lyric 440K, also built by the JV, and also part of the massive, mixed-use, 2M SF Mount Vernon Place. The Lydian will have a protruding corner fin, high-end finishes in units and floor-to-ceiling windows to allow ample natural light into rooms.
The highly amenitized luxury complex includes underground parking, a rooftop with pool and spa, a bike repair and storage room, a lobby lounge, a 24-hour front desk, an internet café, a second-floor tranquility garden, and pet washing and grooming stations. The first floor reserves 13K SF for boutiques and restaurants.
Construction is nearly finished and leasing begins in January, with first move-ins two months later.