Plans move forward for the development of View 14, a 185-unit mixed-use apartment project in Washington, D.C., with tomorrow's demolition of a Comcast satellite dish farm. Removal of the six dishes and antenna tower, which have been an eyesore in the now blossoming 14th and U Street neighborhood for almost 20 years, will allow Washington, D.C.-headquartered developer Level 2 Development to kick off construction of the $80 million project late this spring. Celtic Demolition Inc. is orchestrating the teardown.
The apartment market in the District has been on fire for a few years, and although things have cooled just a bit, the area continues to thrive as one of the strongest multifamily markets in the country. The vacancy rate for both Class A and B apartments is a low 2.9 percent in Washington, D.C., according to a 2006 year-end report by Delta Associates.
"We originally planned View 14 as a condominium project, but we found that the demand was not as strong as we would have liked," Jon Kardon, project manager at Level 2 Development, told CPN. "Demand for apartment buildings is extremely strong, with vacancy rates in this area at 1 to 2 percent."
View 14, along with Level 2 Development's neighboring 225-unit residential project at 2400 14th St., will serve as a bridge between the 14th and U Street district and the Columbia Heights neighborhood. "The project will continue to spur more development in the area," Kardon said. "It will fill in a gap and create a contiguous mixed-use corridor." View 14 is on target to welcome tenants in 2009.