“Right around the first of [2014]” is when the leasing office at 2 M Street NE is expected to open, according to project officials.
The 314-unit structure, a joint venture from WC Smith and the Warrenton Group, is nearing completion, notes Carol Chatham, vice president of marketing and communications for DC-based real estate development firm WC Smith.
Pegged at a cost of $92 million, the 304,000 square-foot building will feature a rooftop deck with a pool, a basketball court and several multi-purpose rooms.
2 M Street will offer 59 units to residents earning 30 percent of the D.C. metro area median income, which is $107,500 for a family of four, according to the U.S. Department of Housing and Urban Development. Another 34 units will be earmarked for those earning 60 percent, and the remaining 221 will be leased at market rates.
2 M Street NE is part of the first phase of the DC government’s Northwest One Development plan, in which the city works with private partners to create affordable housing structures in emerging neighborhoods like NoMa. The Northwest One New Community, as it’s dubbed, is comprised of five housing complexes bordered by North Capitol Street (on the east side); New York Avenue (north); New Jersey Avenue (west); and K Street (south). Potential employers such National Public Radio (and its brand-new building) are located nearby, as is the headquarters of the ATF.
A retailer has not yet been signed to 2 M Street, but Chatham says that’s likely to happen within the next several months.