{"id":1004666918,"date":"2023-06-08T04:12:30","date_gmt":"2023-06-08T12:12:30","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004666918"},"modified":"2023-06-08T05:05:56","modified_gmt":"2023-06-08T13:05:56","slug":"standard-trammell-crow-kick-off-290m-dc-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/standard-trammell-crow-kick-off-290m-dc-project\/","title":{"rendered":"Standard, Trammell Crow Kick Off $290M DC Project"},"content":{"rendered":"
\"Congress<\/a>

Rendering of the potential office component coming to the Congress Heights site. Courtesy of Standard Real Estate Investments<\/em><\/p><\/div>\n

Standard Real Estate Investments <\/strong>has begun pre-construction work for the first phase of Congress Heights, an upcoming 240,000-square-foot mixed-use development in Washington D.C.\u2019s Ward 8. The $290 million project is expected to come online in 2026.<\/p>\n

Standard partnered with Trammell Crow Co<\/strong>. to oversee the leasing and development of the office and retail components. Demolition of the existing buildings<\/a> will commence on June 19.<\/p>\n

\n

READ ALSO<\/strong>: Market Update: DC Office Had a Steady 2022<\/a><\/p>\n

\n

Standard also partnered with NHT Communities<\/strong>, which will develop 179 affordable residential units on the site, meant to accommodate residents earning between 30 and 80 percent of the area median income.<\/p>\n

The developers acquired seven parcels on the 2-acre site last year for $12.5 million, Commercial Observer<\/em> reported. Washington Metropolitan Area Transit Authority<\/strong>, Congress Heights Community Training<\/strong> and Development Corp<\/strong>. and CityPartners<\/strong> sold the property. The same source shows that the development costs are $180 million for the mixed-use component and $110 million for the residential one.<\/p>\n

A transit-oriented, Opportunity Zone development<\/h2>\n

Located at 1331 Alabama Ave. S.E., the property is in an Opportunity Zone. The MedStar Health Performance Center, the training facility for the Washington Wizards, Mystics and Go-Go teams is nearby. Additionally, the asset is within walking distance of the southern pedestrian entrance<\/a> of the Congress Heights Metro station.<\/p>\n

According to a recent CommercialEdge report<\/a>, as of April, a total of 3.9 million square feet of office space was underway in Washington D.C., representing 1.0 percent of total stock.<\/p>\n

Earlier this year, Skanska topped out its 17xM project<\/a>, an upcoming 11-story mixed-use development in the metro’s CBD.<\/p>\n","protected":false},"excerpt":{"rendered":"

Demolition of the existing buildings will start this month. <\/p>\n","protected":false},"author":3030,"featured_media":1004666919,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,11,21752,21742,21747,21749,1615],"tags":[43688,52051,32893],"class_list":["post-1004666918","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-midatlantic","category-mixed-use","category-latest","category-office","category-retail","category-washington-dc","tag-opportunity-zones","tag-standard-real-estate-investments","tag-trammell-crow-company"],"acf":[],"yoast_head":"\nStandard, Trammell Crow Kick Off $290M DC Project - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Standard Real Estate begun pre-construction work of the first phase of Congress Heights, an upcoming 240,000-square-foot mixed-use project.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/standard-trammell-crow-kick-off-290m-dc-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Standard, Trammell Crow Kick Off $290M DC Project\" \/>\n<meta property=\"og:description\" content=\"Standard Real Estate begun pre-construction work of the first phase of Congress Heights, an upcoming 240,000-square-foot mixed-use project.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/standard-trammell-crow-kick-off-290m-dc-project\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-08T12:12:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-08T13:05:56+00:00\" \/>\n<meta name=\"author\" content=\"Raluca Toma\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/Congress-Heights-Rendering.png\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/standard-trammell-crow-kick-off-290m-dc-project\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/standard-trammell-crow-kick-off-290m-dc-project\/\",\"name\":\"Standard, Trammell Crow Kick Off $290M DC Project - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/standard-trammell-crow-kick-off-290m-dc-project\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/standard-trammell-crow-kick-off-290m-dc-project\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/Congress-Heights-Rendering.png\",\"datePublished\":\"2023-06-08T12:12:30+00:00\",\"dateModified\":\"2023-06-08T13:05:56+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/1e908d9381f3929d1d57f95e4db8c529\"},\"description\":\"Standard Real Estate begun pre-construction work of the first phase of Congress Heights, an upcoming 240,000-square-foot mixed-use project.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/standard-trammell-crow-kick-off-290m-dc-project\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/standard-trammell-crow-kick-off-290m-dc-project\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/standard-trammell-crow-kick-off-290m-dc-project\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/Congress-Heights-Rendering.png\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/Congress-Heights-Rendering.png\",\"width\":1440,\"height\":1080,\"caption\":\"Rendering of the potential office component coming to the Congress Heights site. 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