DC's Donohoe Construction Company served as the contractor on the building and broke ground on the project in November of 2000. A development of Chicago, IL's Pritzker Realty Group subsidiaries Park Hyatt and Centergate Residential, the Residences' physical connection to the hotel on the second and third floors allow tenants to indulge in additional amenities--such as room service, 24-hour concierge access, and a state-of-the-art fitness club--that would normally be enjoyed only by the hotel guests. The building also offers a 115-space below-grade parking garage and 15,575 sf of recreation space. There are 24 different floorplans, including two floors reserved for penthouse apartments.

Park Hyatt sits at the corner of 24th and M where there is a hotel on three of the corners, including the Monarch Hotel, but few apartment buildings in the immediate vicinity. However, the new residences complex will not be the new kid on the block for long. The JBG Companies will erect a nine-story, 335-unit luxury apartment building in the same area. The 600,000-sf structure will include two lower levels of retail space, as well.