Wilkes Company and Quadrangle Close on Key Parcels to Develop Residential Project at 801 3rd Street, NW
Sunday August 10, 2014
The Wilkes Company and Quadrangle Development Corporation have completed an 8-year process to acquire several remaining DC-owned parcels at 801 3rd Street in Square 560. The complicated transaction was the culmination of a vision shared by the companies and Mount Carmel Baptist Church to develop a residential apartment building with 20% of the units allocated for affordable housing. Mount Carmel will have equity in the completed project, which will also include space for community use and parking spaces for members of the congregation. 801 3rd Street is part of the Wilkes/Quadrangle 2.2 million SF of master planned development in the Mount Vernon Triangle neighborhood. Buildings completed by the Wilkes/Quadrangle team to date include: the Sonata and Madrigal condos, the Lyric apartments and the AIPAC office building. 801 3rd Street could begin construction within the next 18 months. Read more about the project in the Washington Business Journal article here.