WASHINGTON, DC--Tishman Speyer announced plans to build a residential-retail building on a two-acre site it has acquired near the Nationals Ballpark in the Capitol Riverfront submarket.
The company acquired the parcel from Jamestown for $64 million, according to the Washington Business Journal.
The building will have approximately 800 rental units and 44,000 square feet of retail plus below-grade parking.
The development site is located east of South Capitol Street on a full block between Eye and K streets and between First and Half streets.
A Move Into Residential
Tishman Speyer is traditionally an office investor and developer but has been expanding into the residential sector in New York, Boston, San Francisco and now Washington DC. The area is experiencing strong demand for high-quality, well-located housing, Tishman Speyer CEO Rob Speyer said in a prepared statement.
“We have a strong business presence in the District and in the region, and that will continue as we broaden our development activity here.”
WASHINGTON, DC--Tishman Speyer announced plans to build a residential-retail building on a two-acre site it has acquired near the Nationals Ballpark in the Capitol Riverfront submarket.
The company acquired the parcel from Jamestown for $64 million, according to the Washington Business Journal.
The building will have approximately 800 rental units and 44,000 square feet of retail plus below-grade parking.
The development site is located east of South Capitol Street on a full block between Eye and K streets and between First and Half streets.
A Move Into Residential
Tishman Speyer is traditionally an office investor and developer but has been expanding into the residential sector in
“We have a strong business presence in the District and in the region, and that will continue as we broaden our development activity here.”
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
