158-unit multifamily complex set to begin construction in D.C.’s Logan Circle

A new 158-unit, 114,878-sf multifamily development is set to begin construction in Washington, D.C.’s Logan Circle submarket.

The five-story project is located at the intersection of 15th Street NW and S Street NW, less than a half mile from the U Street Metro Station. The project is also only one block away from 14th Street NW, the heart of nightlife, restaurants, and entertainment for the area’s young professionals.

15th and S rendering

The project will sit on a 44,595-sf parcel of land that is currently a parking lot for The House of the Temple. The land includes a historic carriage house. Key elements of the new complex include a fitness facility, a business center, an entertainment space with hosting capabilities, a rooftop recreation areas with grilling stations and a pool, a 10,000-sf backyard garden, an 108 below-grade parking spaces.

Hickok Cole is the project architect and Harvey-Cleary Builders is the general contractor. The project developer is Perseus TDC. The project is slated for completion in spring 2023.

Across the country, multifamily rents have skyrocketed. Year-over-year rents are up by double digits in nine of the top 30 markets, while national YoY rent growth is up 6.3%. Emerging from the pandemic, a perfect storm of migration, enhanced government stimulus and a hot housing market, among other factors, has enabled this extremely strong growth.