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Construction Begins On New High-Rise in City

WASHINGTON, DC-Post Properties broke ground on Wednesday on a $76-million, 15-story luxury apartment building located in the Northwest section. Construction should be complete by the end of next year.

By Wendy Watkins | Updated on March 28, 2001

WASHINGTON, DC-Construction began Wednesday on the city’s newest high-rise at the corner of Massachusetts Avenue and 15th Street. The 15-story, 269-unit luxury apartment building, being constructed by Post Properties Inc., has a projected $76 million price tag.

The building is Post Properties’ first development in the city. “The location is ideal for this product, and the market for class A apartments is outstanding in Washington,” says Post president David Stockert.

“That whole neighborhood is in a resurgence,” adds Post vice president Steve Etminani, who says construction should be finished by the end of next year. “It’s a fantastic location.”

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