Design firm KTGY has celebrated the grand opening of Vermeer, a new 500-unit residential building, with over 36,000 square feet of retail at 113 Potomac Avenue SW, in Washington, D.C.’s Buzzard Point neighborhood.
The 13-story building, developed by Toll Brothers Apartment Living and CrossHarbor Capital Partners, offers a range of amenities including a rooftop pool, coworking spaces, and a resident lounge. Vermeer features a mix of one-, two-, and three-bedroom apartment homes.
At 13 stories, the building is one of the tallest in the neighborhood, with a long and wide footprint. Construction was financed with a $162.7 million construction loan facility from Bank OZK and began in late 2022. Vermeer welcomed its first residents in December 2024 and celebrated its grand opening in early May.
Vermeer offers easy access to the Capitol Riverfront, Audi Field, Nationals Park, The Wharf, and the Navy Yard-Ballpark Metro station. The community’s first retail tenant, a 19,000 square-foot Gold’s Gym, is set to open in the fall.
The development team behind One Beverly Hills (1BH) said construction on the $10-billion luxury mixed-use project is proceeding ahead of schedule. The Beverly Hilton expansion structure topped out approximately 10 weeks ahead of schedule and one of the residential towers is progressing six weeks ahead. “This was accomplished while significant operations were maintained at The...
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Northwind Group has originated a $231-million first mortgage construction loan for 675 Third Ave., a 32-story, 337,000-square-foot office building in Manhattan’s Midtown East neighborhood that is slated for conversion into residential apartments. The conversion is being led by a joint venture between Nathan Berman’s Metro Loft Management and David Werner Real Estate Investments. Loan proceeds...
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Rental housing affordability declined in 82% of U.S. metropolitan areas between 2014 and 2023, with renters experiencing the equivalent of an average $256 annual reduction in income after accounting for changes in housing quality. That’s according to a new report released Tuesday by the Mortgage Bankers Association’s Research Institute for Housing America. The report, Housing...
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