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1700 Euclid Condominiums

SOLD OUT
1700 Euclid Condominiums

1700 Euclid Street NW | Adams Morgan

SOLD OUT
Comments
Portfolio Title
1700 Euclid Condominiums
Portfolio Desc

1700 Euclid Street NW | Adams Morgan

Description Title
CASE STUDY
Description Content

We purchased 1700 Euclid St NW in August of 2011. At the time, there was a vacant corner store and dry cleaner on-site. We quickly addressed environmental issues from the dry cleaner, efficiently and effectively navigating through a short due diligence period and on to a successful closing. We were able to maximize the development potential and value to the seller through a unique two-pod building design and creative unit layouts from our in-house design team. We razed the existing buildings and built a new 19-unit boutique condominium that delivered in 2013. The building contained three moderate-income units through the Inclusionary Zoning Program. We worked closely with the Department of Housing and Community Development to develop the second building in DC to successfully sell these types of units.

PROJECT INFO
  • Year Purchased: 2011
  • Year Delivered: 2013
  • Product Type: 19 Condominium Units
  • Inclusionary Zoning: 3 Units
PROJECT CHALLENGES
  • Prior site use left behind environmental issues
  • New regulations required CCRE to be one of first developers ever in Washington, DC to sell IZ units
  • Site restrictions required creative two-pod design to maximize site use and design criteria