Proposed New Residential
Factual Data: 36 apartments proposed with 38,000 sq.ft., developed by Pecar Properties as managing member and Marcus Asset Group. Located at 1345 K Street, SE on Capitol Hill.
- Emerging market segment on eastern edge of the Capitol Hill neighborhood.
- Property acquired in 2015/2016 through an assemblage of 3 parcels, including a church.
- Acquisition financing with Eagle Bank.
- Co-management of design process for new construction in dense, urban neighborhood.
- Market analysis and co-management of marketing effort. Broker is Urban Pace.
- Construction start in Fall 2016 with completion in 12 months.