Today in Pictures - Flats at Atlas District

Clark Realty Capital, which broke ground on the first phase of Arboretum Place in October of 2010, is getting close to delivering its project at 1600 Maryland Avenue, NE. The first phase of construction, "The Flats at Atlas District," will yield 257 apartments when the dust settles this summer.

Originally expected to initiate construction back in 2009, the project idled but a HUD loan put air beneath the developer's wings in a submarket that has seen little development of this kind. The project was designed by Niles Bolton, with interior design by RD Jones, with construction by Clark. Completion is expected "this summer." Initial leasing, which began last Thursday, is going well, according to Tracey Thomm of Clark Realty Capital, with "higher leasing volume than expected" on the 24 units just released. The Clark project sits on 5 acres, only 3 of which have been used for the Flats, leaving another 2 on which the developer will likely add another 200 units or so in the next phase, beginning pre-development this year. The developer notes that the Flats is the product of several years worth of design work that "respects the history of the neighborhood." Thomm says that "we made alot of changes based of community feedback that has substantially improved the design," something she hopes will be apparent to the community now that the project is open to the public.


Washington D.C. real estate development news