Developed by a joint venture between the District's CarrAmerica Urban Development, LLC and New York, NY's JPMorgan Fleming Asset Management, Terrell Place is, quite literally, a multi-faceted project that will incorporate historic buildings, as well as new structures.

Named for the late Washington, DC civil rights activist Mary Church Terrell, the complex will include a new nine-story building adorned by four historic facades, a new 11-story structure, and the former Hecht's department store structure, which is a local architectural treasure. A sky-lit atrium will serve as the common link between the buildings. Late last year, PNC Capital Markets closed a $100 million, 3 ½-year secured construction loan for the joint venture to be used for Terrell Place's development.

There is more to the project than the retail and office space that is currently being constructed, however. "There's a separate residential component of the project," Clark Construction's Elizabeth Tuico tells GlobeSt.com. "There will be 29 high-end condos in a building that will be 70,000 sf. One of our subsidiaries, Clark Residential, will be building that."