D.C.’s NoMa neighborhood has seen roughly 3,000 multifamily units delivered during the past three years. Based on the neighborhood’s development pipeline, another wave of rental deliveries will hit the submarket in 2017 and early 2018.
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With its eyes on a first quarter 2018 completion, Wood Partners will break ground on 346-unit, “ultra luxury” project this month.
One of the nation’s top multifamily developers, in terms of yearly unit starts, Wood Partners is currently demolishing a two-story office building to make way for the project, which is next to the Metro’s red line and Union Station.
Responsible for constructing the 13-story high-rise project, which will break ground this month, will be Balfour Beatty Construction, a contractor that has previously work with Wood Partners on projects in the Southeast U.S.
Included in the NoMa project’s unit mix will be a select number of micro units and two-level suites, according to Balfour Beatty.
Groundbreakings in NoMa
A development involving JBG Companies and Brandywine Realty Trust will represent an additional 2016 project start within the neighborhood. This development will feature a 220-unit residential tower, along with a below-grade Landmark movie theatre, two office towers and 60,000 square feet of retail space.
Tolls Brothers is likely to start a 525-unit, 14-story project in the neighborhood, as in September the developer pulled permits for foundation-to-grade only work for the project’s first phase, which includes 296 units.
The neighborhood has a consortium of other proposed mixed-use, multifamily and adaptive reuse projects that don’t have a targeted completion date.
According to a NoMa neighborhood several REITs, AvalonBay Communities (AVB) and Camden Property Trust, will deliver rental projects within the neighborhood next year. AVB currently has a 435-unit project underway, while Camden continues work on a two-phase, two-tower project that will feature a total of 726 units.
Additionally, in Spring 2017 LCOR is expected to complete a mixed-use development that will include 187 multifamily units.
