158-unit multifamily complex set to begin construction in D.C.’s Logan Circle

A new 158-unit, 114,878-sf multifamily development is set to begin construction in Washington, D.C.’s Logan Circle submarket.

The five-story project is located at the intersection of 15th Street NW and S Street NW, less than a half mile from the U Street Metro Station. The project is also only one block away from 14th Street NW, the heart of nightlife, restaurants, and entertainment for the area’s young professionals.

The project will sit on a 44,595-sf parcel of land that is currently a parking lot for The House of the Temple. The land includes a historic carriage house. Key elements of the new complex include a fitness facility, a business center, an entertainment space with hosting capabilities, a rooftop recreation areas with grilling stations and a pool, a 10,000-sf backyard garden, an 108 below-grade parking spaces.

Hickok Cole is the project architect and Harvey-Cleary Builders is the general contractor. The project developer is Perseus TDC. The project is slated for completion in spring 2023.

Across the country, multifamily rents have skyrocketed. Year-over-year rents are up by double digits in nine of the top 30 markets, while national YoY rent growth is up 6.3%. Emerging from the pandemic, a perfect storm of migration, enhanced government stimulus and a hot housing market, among other factors, has enabled this extremely strong growth.