Robert H. Smith School of Business
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Capital Business
Posted at 07:26 PM ET, 01/12/2012

Construction to begin on 433 apartments near Nationals Park

Much of the construction around the Nationals Park stalled during the
A rendering of the 433-unit Park Chelsea apartment building planned for Southeast Washington. (Courtesy of William C. Smith & Co.)
economic collapse, sometimes leaving empty holes or half-finished buildings, but another developer in the area has now decided it’s time to get started again.

William C. Smith & Co., a District-based developer that owns and manages thousands of units across the city, says it will begin construction this spring on Park Chelsea, a 13-story, 433-unit apartment complex at the corner of New Jersey Avenue and Eye Street SE.

The $140 million project will take about two years to complete, allowing residents to take advantage of a Harris Teeter grocery store and a half dozen restaurants being built nearby.

By deciding to start in coming months, William C. Smith is moving to get ahead of other developers in the ballpark area that plan apartment buildings. Monument Realty, along with MacFarlane Partners, plans a mixed-use project with apartments along Half Street SE, the main pedestrian corridor to the ballpark. District-based Akridge plans apartments just down the block, where the pre-game booze stop the Bullpen served many, many beers to baseball fans last season.

Swimmers may take a particular interest in renting at Park Chelsea. The new building will feature many of the amenities other high-rise buildings in the area offer — a club room, gym and courtyard — but will also have two pools, one on the rooftop for lounging and a 75-foot indoor lap pool.

Follow Jonathan O’Connell on Twitter: @oconnellpostbiz

By  |  07:26 PM ET, 01/12/2012

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