WASHINGTON, DC–DBT Development and Red Ace LLC are partnering to purchase and develop the property at 37 L St., SE, into what the partnerships says will be one of the first condos in the Capitol Riverfront.
The partnership, Red Ace-DBT LLC, has selected Bonstra Haresign Architects, following a RFP process, to design the building. It expects to request proposals from general contractors in early 2017 and begin construction in the summer of 2017 with occupancy expected by 2019. Eagle Bank is providing the financing.
The locally-based DBT Development has developed the city's largest DMV Service Center at Benning Ridge, SE and The Maryland Condominiums in NE as part of a partnership with Valor Development in the last year.
WASHINGTON, DC–DBT Development and Red Ace LLC are partnering to purchase and develop the property at 37 L St., SE, into what the partnerships says will be one of the first condos in the Capitol Riverfront.
The partnership, Red Ace-DBT LLC, has selected Bonstra Haresign Architects, following a RFP process, to design the building. It expects to request proposals from general contractors in early 2017 and begin construction in the summer of 2017 with occupancy expected by 2019. Eagle Bank is providing the financing.
The locally-based DBT Development has developed the city's largest DMV Service Center at Benning Ridge, SE and The Maryland Condominiums in NE as part of a partnership with Valor Development in the last year.
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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.
