Press Release: Standard Real Estate Investments Secures Demolition Permit, Begins Construction Phase of $290 Million Mixed-Use Development Project
Demolition Makes Way for up to 240,000 SF of Office and Retail Space in Washington, D.C.’s Congress Heights Neighborhood
Standard Real Estate Investments, LP (Standard), announced it has begun the first phase of construction at its recently purchased property adjacent to the Congress Heights Metro Station site. Demolition of the existing buildings on the site within Washington D.C.’s Ward 8 will commence on June 19, 2023.
“We are incredibly honored to usher in a new era for this well-located site and the demolition of the existing buildings is just the first step in importing economic activity, amenities and jobs to the Congress Heights neighborhood,” said Jerome Nichols, president of Standard. “It’s been a complex process, and our partnership with Trammell Crow Company promises to create a new benchmark for development in the District as we unlock the potential of this site.”
Standard has partnered with Trammell Crow Company (TCC), a global real estate development firm, to execute on the leasing and development of up to 240,000 SF of commercial office and retail space. The one-acre site at 1331 Alabama Ave SE neighbors the MedStar Health Performance Center, which is home to the Washington Wizards, Mystics and Go-Go’s training facility, and is proximate to the southern pedestrian entrance to the Congress Heights Metro station.
“We are thrilled to start the development of this transformative project, which is already generating interest from a variety of commercial users that will drive job creation and nurture a sense of community,” said Tom Finan, Principal at TCC. “Our successful development of the new Department of General Services headquarters a few miles north in Ward 7 has sparked a wave of interest from office and retail users, which will undoubtedly attract additional economic support throughout the community. The tireless efforts of our partners at Standard will bring a robust new economic engine to Ward 8, while furthering our multi-year, multi-million-dollar commitment to partnering with diverse sponsors and investing in diverse communities as part of our firm’s DEI initiative.”
TCC and its vast experience in transit-oriented development and build-to-suit office buildings for both public sector and private sector users will ensure that Standard’s Congress Heights project will be a strong economic driver in Ward 8. Further, the project represents another key milestone in the Washington Metropolitan Area Transit Authority’s (“Metro”) ongoing efforts to bring forth transit-oriented developments. Standard purchased a portion of the seven-property site assemblage from Metro in 2021.
“In addition to enhancing the fabric of this community this project will enhance accessibility to transit in and around Congress Heights,” said Liz Price, Vice President of Real Estate and Development for Metro. “The start of construction here is symbolic of our commitment to advancing equity and improving the economic landscape across our footprint through activating our real estate holdings, increasing Metro ridership and rider experience.”
“The demolition of the existing structures is the next step in providing a path forward for the long-contested site which has been the focus of broader redevelopment initiatives in recent years,” continued Nichols. “The team we are working with brings extensive experience in transformative urban development, and the result is sure to attract a variety of commercial users to the burgeoning Congress Heights community.”
Construction completion is targeted for 2026 as the team begins demolition and finalizes the design and leasing campaign for the office and retail components.