New Condo Opens in Petworth

DC's newest condo project has opened in Petworth. The Flats at Taylor Street began sales in July after completing a one-year renovation of the 26 unit apartment building, with prices ranging from $199,900 to $299,900 for one and two-bedroom condominiums. The condo project, near the Petworth / Georgia Avenue Metro, is in one of DC's more active development districts, joining a cluster of other large projects either recently completed or underway.

The new condominiums will beef up the housing stock, along with recently completed Park Place apartments and NDC's newly opened Residences at Georgia Avenue with Yes! Organic market, as well as the 130-unit apartment building Georgia Commons now underway one block south, Donatelli Development's apartment building going up across from the Metro and a new retail development next door, as well as a CVS that opened just last week, effectuating years of promises for upper Georgia Avenue.

Taylor Flats, at 804 Taylor Street, NW, is the rebirth of an apartment building that was fully gutted in 2009, with unit layouts redesigned by Bonstra Haresign Architects for more contemporary living spaces that include in-unit washer & dryer and larger living rooms. Taylor Flats condos will also be the first large condominium to utilize CityFirst Homes, a District-sponsored program to give condo buyers downpayment assistance. The program provides moderate-income purchasers with $75,000 toward financing and downpayment costs, with an interest-only repayment for the first seven years at a fixed 3.79% interest rate, allowing a 2% downpayment without mortgage insurance. The remaining purchase price is financed privately through Bank of America.

The condominium sales office is open on Sundays or by appointment, email sales @ TaylorFlats.com, or call 202-309-0935.

Washington DC real estate development news