Condominium properties-- new developments, conversions or switches from planned apartment projects--continue to pop-up at a rapid pace around the District despite fears of repercussions from a mushrooming pipeline. But those fears of saturation proved unwarranted in 2004, and developers are hoping the same will be true of 2005.

"In fact, 2004 turned out to be another record year in new condo sales and the market was able to absorb the onslaught of new large-scale projects," Delta Associates concludes in its Fourth Quarter 2004 class A Apartment & Condo Report. In addition to increased employment, convenient urban locales, innovative marketing and low interest rates, strong investor interest kept the condominium development business thriving. And if investor interest is to remain, the report notes, mortgage rates must remain low, condo prices must continue to rise and the stock market must remain fickle.

The project Meridian Capital secured financing for will not be alone in this blossoming residential segment of Downtown DC that has long been a thriving business corridor, as several other multifamily properties have decided to make a home along the stretch of Massachusetts Ave. near the intersection of 4th and I streets.; there's the 246-unit Sovereign Square, the 462-unit Meridian on Massachusetts, and the 262-unit 400 Massachusetts Ave.