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LCOR to Build $38-Mil Apartment Building on Church Lot

WASHINGTON, DC-Pennsylvania-based real estate developers LCOR Incorporated reveals plans to build a $38 million luxury apartment complex on the parking lot of the historic National City Christian Church Foundation. LCOR has already signed a 99-year ground lease for the property, which is owned by the church's foundation.

By Barbra Murray | Updated on January 29, 2002

WASHINGTON, DC-Berywn, PA’s LCOR Incorporated has inked a deal to build a $38 million luxury apartment building on what is now the parking lot of the National City Christian Church. The real estate firm has entered into a 99-year ground lease of the church foundation’s property, as well.

Located at 14th and N streets, the parking lot will become home to a multi-unit high-rise housing structure, with construction beginning in the latter months of this year. “Realistically, we’re hoping to start construction early in the fourth quarter,” LCOR senior vice president Timothy D. Smith tells GlobeSt.com. “We’re drawing it right now.” The apartments will sit in the middle of Thomas Circle, an urban neighborhood that offers commercial activity as well as a variety of residences. “This is a true mixed-use site in the District, as opposed to a theoretical one,” Smith adds. “It’s right at the business district; Fresh Fields [market] is nearby and Dupont Circle is not far away.” He says the size of the project — 171 units — is just right for the company. However, the project’s main draw for LCOR, Smith emphasizes, “is it’s in an established neighborhood.”

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