Construction Begins on $60M Terrell Place Complex

WASHINGTON, DC-Construction on Terrell Place, the $60 million mixed-use complex to be located near the MCI center at 575 Seventh Street, has begun with Clark Construction heading the project. The groundbreaking took place last November on what will be a compound containing nearly 480,000 sf of class A office and retail space.

Developed by a joint venture between the District’s CarrAmerica Urban Development, LLC and New York City-based 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, three-and-a-half-year secured construction loan for the joint venture to be used for Terrell Place’s development.