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WASHINGTON, DC-The former home of Washington, DC's Wax Museum is all set to begin a new life. A team steered by Lowe Enterprises will orchestrate the site's rebirth with the creation of CityVista, a mixed-use development of 678 residential units and approximately 117,000 sf of retail space.

The development team, selected by property-owner the National Capital Revitalization Corp, includes Bundy Development Corp, the Neighborhood Development Co. and CIM Group. The project will cost $200 million to realize.

CityVista will sit at 5th and K streets in the Mount Vernon Triangle area, about one-third of a mile from the new Washington Convention Center. The residential segment of the development will feature 243 apartments and 435 condominiums contained in three structures, with 20% of all the units reserved as affordable housing. The retail portion will offer a 55,000-sf Safeway grocery store containing a Starbucks, Bergmann's Dry Cleaning and SunTrust Bank; and there will be an additional 62,000 sf of retail.