Construction at a new 14-story apartment building began last week in Washington’s Mount Vernon Triangle neighborhood. The 393-unit structure is part of a two-building project in the area by Paradigm and Steuart development companies.
“We started to clear the site. There was an existing building which we have razed,” says Jimmy Dodson, Paradigm project manager.
Dodson explains the new building, slated for delivery late 2014, will have more than 419,000 square feet of residential space and share amenities from the first-phase building, like electric car charging stations and the pool.
The new building, located at 415 L Street, NW will also feature a fitness area, business center, sun deck among other multi-purpose spaces.
Projects like its sister building have revitalized the neighborhood in recent years. According to the neighborhood’s Community Improvement District, a non-profit that oversees improvement in the neighborhood, 80 percent of the units at Meridian at Mt. Vernon have been leased within 10 months of its opening.
"Mount Vernon Triangle has been transformed over the last six years with new housing, offices, and retail," Bill McLeod, Executive Director of the Mount Vernon Triangle Community Improvement District,” says in a statement. "The start of the second phase of this project is another indicator of its transformation into becoming a highly desirable neighborhood to call home."
Luis Velarde writes about business, investments, real estate, and urban development. His work has appeared in the BBC World Service, Voice of America and others.