While construction nears completion across the street on nearly 700 residential units and 80,000 s.f. of retail, Foulger Pratt is adding its own contribution to the development of real estate straddling the once-forgotten border of the Noma and Eckington neighborhoods. The Potomac based developer broke ground in May of 2019 on a project to build 327 apartments and retail space on a 1.8 acre site overlooking Noma's largest park. The building, dubbed One 501 (see address for explanation), and the park were part of a land sale from Pepco, which sold the 2-acre park site to a foundation for $14m and the adjacent parcel to Foulger Pratt for $12.6m (query this: shouldn't our utility rates have gone down?). Foulger Pratt then kicked back an additional half acre to the foundation, and a park was born (click on map for location).
Torti Gallas crafted the building's design, built by Foulger Pratt's in-house team, leasing is expected to start in April of next year, no retail leases have been signed just yet. In addition to overlooking the park, the building sits astride the Metropolitan Branch Trail, which puts it an easy two-ish block walk to the Noma Metro station, which also puts it a reasonably short walk to Union Market. And with views from its roof over the nearby U.S. Capitol, a park at your doorstep, and JBG's mega project across the street, there's really not much reason to go much farther.
Project: One501
Developer: Foulger Pratt
Architect: Torti Gallas
Construction: Foulger Pratt
Interior Design: MSA Interiors
Use: Apartment building with 327 units
Expected Completion: April 2021
Washington D.C. commercial real estate news