Loree Grand Fully Leased
After just one year of leasing, the Loree Grand at Union Place has fully stabilized and is now home to more than 400 residents.
The 212-unit Loree Grand is located at 250 K Street, NE, and originally reserved 30 units for artist housing. The property is excited to welcome Chef Gillian Clark’s Kitchen on K Street later this summer, a neighborhood-oriented full-service restaurant serving breakfast, lunch and dinner.
“We’re just thrilled at how quickly the Loree Grand leased up and it is a testament to the development in NoMa,” said Joel Regignano, the property manager. “We’re occupied at 96 percent and no longer in the lease-up phase.”
More than 1,400 people moved into NoMa starting in 2010, when three residential properties delivered. Just a few months after the Loree Grand started leasing, the Flats 130 at Constitution Square opened with 414 luxury apartments in Constitution Square; the building is currently 65 percent leased and 50 percent occupied. The Washington Center, an intern residence facility, houses 340 students each semester.
Four additional residential projects are under construction in NoMa now, promising a strong surge in 2012 and 2013, when more than 1,500 units hit the market:
- StonebridgeCarras is expanding the Flats 130 at Constitution Square with 203 additional residential units (and an office building, which breaks ground later this year);
- Mill Creek Residential Trust will begin delivering next year on 603 units on Eckington Place in the northern portion of NoMa BID;
- Archstone recently topped out at Archstone NoMa, a 469-unit luxury apartment building at First and M Streets, NE. Leasing will begin in spring 2012;
- William C. Smith & Co. has begun site preparation work at the first site in the massive mixed-use/multi-phase Northwest One project. The first site includes 314 units.
The neighborhood has experienced a surge in retail growth as well. Harris Teeter opened their largest DC store at First and M Streets, NE, in December, attracting a busy lunch-time crowd and weekend shoppers. Todd Gray’s Watershed opened in April at the Hilton Garden Inn, followed by The Perfect Pita – the latest retailers in a slew of 17 that have opened in the last three years.
When relocating to NoMa, new residents, tenants and retailers all cite the area’s unparalleled transit connectivity, Washington’s fastest New York connection at Union Station, and 15 modes of transportation, including two Red Line Metro stops. NoMa is Washington’s most sustainable neighborhood, offering a car-free lifestyle, 20 LEED buildings, nine green roofs and more than 156 trees planted since 2007.
In addition to rails, NoMa also offers trails – and cycling options for everyone. NoMa is served by the only Bikestation on the East Coast, the 8-mile Metropolitan Branch Trail, and 6 Capital Bikeshare stations.
NoMa is a vibrant, growing neighborhood north of Union Station and the U.S. Capitol in Washington, D.C. In the last five years, private developers have invested more than $3 billion in the 35-block area covered by the NoMa BID, and have plans to develop more than 20 million square feet of office, residential, hotel, and retail space. In 2010, more than 6,000 people moved into NoMa to live or work; and eight new retailers opened for business. NoMa has 15 modes of transportation, including two Red Line Metro stops, and the best biking facilities in DC, with the only East Coast Bikestation, the 8-mile Met Branch Trail, and six Capital Bikeshare stations. NoMa is the most connected neighborhood in Washington, DC. For more information about NoMa, visit nomabid.wpengine.com and sign up for our bimonthly newsletter. Follow us on Twitter @NoMaBID; or Facebook at www.facebook.com/nomabid.
For immediate release
News Media Contact: Rachel L. Davis
202-997-3846, [email protected]