Capitol Lofts
The development is to be located on the half block located on the south side of R Street between 11th and 12th Streets. The site consists of a six-story (plus a basement) historic warehouse building, historic three-story office/warehouse building, one-story warehouse, and surface parking. The project is located in an area of diverse land uses including offices, multifamily residential, single-family residential, restaurants and industrial uses. The development of the historic structures will help revitalize the R Street corridor and act as a catalyst for implementing the R Street Corridor Plan.
Status
The Capitol Lofts project has reached an important milestone!
In October, 2007, the Developer entered into a Revised and Restated Disposition and Development Agreement (DDA) with CADA that outlines the terms and conditions for development of this project. The changes to the DDA have been approved by the Developer and the CADA Board to reflect changes that have been made in the financing of the project, the Developer's partnership structure, and project schedule. These changes will add significant new momentum to the development this long-awaited project.
The project will become an all-market rate project and the City of
Construction drawings are being finalized now and will be submitted to the City for issuance of building permits during the first quarter of 2008.
CADA anticipates transferring the property to the Developer during the third quarter of 2008, with construction starting within 30 days following the property transfer. CADA and the Developer anticipate construction will be complete in the Summer of 2010.
To be placed on the Developer's Capitol Lofts mailing list, please visit the Developer's website for this project, at:
http://www.capitollofts.comDesign
The development as proposed consists of one and two bedroom lofts and live/work units which will be offered for sale. The use and design of the building on the site and street are consistent with the R Street Corridor Plan and complements the scale, orientation, and materials of surrounding buildings.
Existing CADA Warehouse Building
This existing warehouse is a six-story plus basement concrete frame structure
and will be retrofitted to include fifty-two residential flats plus 9
two-story penthouse units constructed on top of the warehouse building.
The basement will be converted into 12,800 square feet of storage for
use by the residents. Entry to the building will be through the main courtyard
on 11th Street.
11th Street Lofts
Eighteen lofts will be constructed behind the existing three-story brick
building at 11th and R Streets. Three ground floor units will be configured
as live/work units. The historic three story brick building will be converted
to 4 residential units on the second and third floors with retail uses
at the ground floor level.
R Street Lofts
Eight live/work units will be constructed on the corner of 12th and R
Streets and attach to the east side of the existing warehouse structure.
Eight units will be at street level with additional 8 residential units
with mezzanines stacked on top of these units.
Podium Lofts
The Podium Lofts will sit atop a four-story parking structure, which will
include 165 parking spaces. Twenty-one units will be located here along
with a landscaped courtyard.
The project is designed to have an industrial appearance and utilizes brick, concrete and metal to achieve this "loft look" which has been popularized in New York and San Francisco. The project will have varying rooflines for each building creating a sense of four separate structures juxtaposing old and new.
