MRP Realty Gets Approval for $350M Development

WASHINGTON, DC-MRP Realty has received approval from the Washington, DC Zoning Commission to begin work on a $350 million development in the northeast part of the city, near the Capitol. Called Washington Gateway, the one-million-sf, mixed-use project will border the area immediately north of the New York Avenue Metro station and Florida Avenue.

The proposed development includes two office towers, a 250-unit residential tower and a 150-key extended stay hotel. Because of its urban location, MRP Realty plans to develop Washington Gateway as a pedestrian-friendly cityscape by substantially widening New York and Florida avenues, adding new trees, sidewalk cafes and shops. Ground breaking is planned for Q4 of this year and the buildings are expected to deliver in Q1 2010.

“We have been working closely with the DC Office of Planning, DC Department of Transportation, and members of the community to unlock the site’s potential and create the highest possible project quality,” says Frederick Rothmeijer, an MRP Realty founding principal, in a statement.