November 23, 2016 Jon Banister, Bisnow Washington, D.C.
Meet the major D.C. players at one of our upcoming events! Courtesy: Four Points LLC
A Truxton Circle building that housed horses in the early 1900s will soon be home to hundreds of condo-dwellers.
Four Points LLC broke ground yesterday on Chapman Stables with plans to redevelop the historic building and construct a new five-story building next door.
The building, which was built as a horse stable in 1906 and later used as an automobile repair shop, is at 57 N St NW, just three blocks from the NoMa Metro station. The original plan had called for rental apartments, but the developer now says it is building condos.
The project in total will include 114 condo units and 1,200 SF of retail. The developer will restore elements of the historic horse stable building, rendered above, which will contain 36 condos. It will also add a one-story loft atop the existing building, set back 15 feet from the façade. The remaining 78 units will be in the new, L-shaped, five-story building, which will sit 40 feet from the horse stable building. The Historic Preservation Review Board approved the project in May 2015.
The Cordish Companies The condos will range from 540 SF to 1,100 SF, Four Points project director John Sunter tells Bisnow, and will be priced from $300k to more than $1M. Four Points has brought on McWilliams Ballard to handle condo sales, which will begin in the spring.
The building is expected to deliver in spring 2018. The project was financed with a $33.5M construction loan from Washington First Bank.
Also in Truxton Circle, co-living provider Common is renovating an Oaktree Development-owned building on Richardson Place NW into a 24-unit Millennial-geared multifamily building.