LCOR lands $100M in financing for huge Crystal City apartment project

Published by the Washington Business Journal. By Michael Neibauer.

The Altaire will feature a large amenity space between its two residential towers, one featuring condos and the other, apartments. Photo courtesy of the Washington Business Journal.

An evening, illustrative view of LCOR's The Altaire, that will replace the existing office building at 400 Army Navy Dr. Photo courtesy of the Washington Business Journal.

A rendering of LCOR's The Altaire, a 450 unit residential building in Crystal City that will feature unobstructed views of D.C.'s monuments. Photo courtesy of the Washington Business Journal.

An illustrative rendering of LCOR's The Altaire, formerly 400 Army Navy Dr., looking north toward the private drive. Photo courtesy of the Washington Business Journal.

LCOR Inc. is expected to begin construction this month on a 20-story residential building in Crystal City after landing $100 million in construction financing.

The Altaire, at 400 Army Navy Drive, will feature dual towers, one with 150 “top of the market luxury” rental units, and the second with 300 high-end units. Wells Fargo provided the $100.33 million loan. Balfour Betty is the general contractor, SK&I the architect and Akseizer Design Group the interior designer.

The 500,000-square-foot project from the Berwyn, Pennsylvania-based LCOR is scheduled to deliver in the second quarter of 2018. Located on Crystal City’s border with Pentagon City, The Altaire will be located within half of a mile of both the Pentagon and Pentagon City Metro stations. Amenities will include a landscaped courtyard, outdoor pool with fire pits, fitness center, club room, “sky lounge” and rooftop terraces overlooking D.C.

It will replace the “Paperclip building,” a 230,000-square-foot, nearly 50-year-old office property that LCOR acquired from Lerner Enterprises in late 2012 for $39 million. The Lerner building was left vacant by the Base Realignment and Closure actions.

Read the original article here.

Redesigned 1937 estate in D.C.'s Kent lists for $3.995 million

Published in The Washington Post. By Michele Lerner.

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While today’s home buyers value open floor plans and natural light, those elements are not always a part of the older stately homes found in some of Washington’s most sought-after neighborhoods.

The home at 4940 Lowell St. NW, built in 1937 in the quiet neighborhood of Kent in Northwest Washington, has a restored original brick facade, a professionally landscaped front garden and a modern interior. The home is listed for sale at $3.995 million.

The renovation is a collaboration between Columbia Property Capital, founded by Guy Prudhomme, and ADG: Akseizer Design Group, founded by Jeff Akseizer. The home has four levels, about 6,200 finished square feet, seven bedrooms, six baths and a two-car garage. Indoor-outdoor living, another feature desired by today’s buyers, is accomplished with a wraparound deck accessible from the open kitchen and family room, as well as the living room.

The kitchen has walls of windows and top-of-the-line appliances, including a microwave drawer hidden in the island, as well as marble counters, a marble backsplash and maple cabinetry. The master suite overlooks the back yard and has cathedral ceilings, two walk-in closets and a luxurious bathroom with a marble shower, a freestanding limestone soaking tub, marble floors and marble counters.

The home has white oak hardwood flooring on the three upper levels and oak floors with an ebony finish on the lower level. Smart home features include stereo speakers throughout the residence, video and data outlets, a lighting system and a music control system.

See the original article, video, and more images in The Washington Post here.