Perseus Realty Unveils $100M MXD Plans

WASHINGTON, DC-Perseus Realty is planning to develop a 350,000-sf mixed-use project in the District’s U Street Corridor. The total value of the project is $100 million, John Wood Bolton Jr., executive vice president of Perseus tells GlobeSt.com, and will consist of a completely redeveloped 45,000-sff YMCA, the construction of 200 apartment units and 12,000 sf of retail space.

The project will be carved out one of the city’s most historic blocks bounded by 14th Street on the west, W Street on the south, and Florida Avenue on the north. As part of the project Perseus will preserve five townhouses facing 14th Street, which are expected to house community retail shops and restaurants.

Construction is expected to begin Q1 or Q2 2008. The entire project is scheduled to deliver in 2010.