Bell Del Ray, a 276-unit apartment community which is part of the Potomac Yard Master Development plan in Alexandria, recently began leasing.
Woodfield Investments, the lead developer on the project, and Bell Partners, an investment and management partner, designed Bell Del Ray with large units and upscale amenities to appeal to residents who want to take advantage of a location near Old Town, Del Ray, shops, restaurants, commuter routes and the Braddock Metro station.
The pet-friendly community includes 3,480 square feet of retail space on the ground floor, two lap pools, a swimming pool, a sundeck with an outdoor kitchen, an outdoor lounge with a firepit, a game room, a conference room, a business center, Internet service, a fitness center and a coffee bar.
The apartments average 846 square feet and are a mix of one- and two-bedroom units that range in rent from $1,800 per month for an entry-level one-bedroom with one bathroom to $3,365 for a two-bedroom, two-bathroom with a loft-style floorplan. For more information, visit www.bellapartmentliving.com or call 877-375-5204.
Historic buildings converted to apartments
The Aria Development Group recently transformed three connected Columbia Heights rowhouses into apartments in the sought-after neighborhood within walking distance of the U Street and Columbia Heights Metro stations.
Built in 1904, the three buildings, listed on the National Register of Historic Places at the Alden, the Babcock and the Calvert, have been restored and retain their previous configuration of three-story brownstone townhomes with English gardens in the front and a landscaped terrace in the back.
The renovation at the building now known as the Alden, at 2620 13th St. NW, cost $6 million and involved the D.C. Historic Preservation Office, the U.S. National Parks Service and Traceries, an architectural history and historic preservation consulting firm.
The 44 one- to four-bedroom apartments include WiFi, remotely programmable Nest learning thermostats, video intercoms, three-inch white oak floors, cherry cabinets and Bosch washers and dryers. The building includes indoor bike storage.
Monthly rents range from $1,950 to $2,599 for the available one- and two-bedroom homes. Twenty percent of the units are designated as affordable for qualifying tenants. For leasing information, call 240-447-7272 or visit www.TheAldenDC.com.
New design center heads to Atlas District
While the Atlas District along H Street in Northeast Washington has become a hipster haven for music, cocktails and dining, the area’s retail sites are joining the party as well.
Foundry home furnishings, a popular store in the U Street corridor for vintage and antique furniture, is moving to an expansive space in Atlas Court Alley, an alley between H and I streets that was recently given a historical designation by the D.C. Council.
The new 4,000-square-foot showroom, at 819 11th St. NE in a historic carriage house, nearly doubles the space for this store, which is owned and operated by designer Yvette Freeman.
The showroom includes 2,000 square feet for a design center for personalized consultations and assistance with custom-designed pieces. The first floor has a workspace where visitors can see artwork and upholstered pieces while they’re being produced.
Freeman travels throughout the D.C. region to estate sales, construction sites and even dumpsters to find discarded decorative items that can be restored and repurposed. The store includes a mix of vintage, antique and new furniture and accessories.
Shoppers will also find “Foundry Threads” on the second floor of the Foundry, which sells vintage clothing.
For more information on Foundry, visit www.foundrybyfreeman.com.
New mortgage product for PenFed members
Pentagon Federal Credit Union (PenFed) recently introduced a 15/15 adjustable rate mortgage (ARM), a product officials there believe is the first home loan of its kind.
The 30-year mortgage has a fixed-rate for the first 15 years and then adjusts just one time and is fixed for the remaining 15 years at that rate. The loan is available for a limited time for refinancing and for home purchase loans up to $750,000.
The idea is for borrowers to obtain the lower mortgage rates associated with an ARM while keeping a stable payment for 15 years. The loan adjusts after 15 years to the rate at that time for a 10-year Treasury Bill plus a margin of one percent.
The maximum mortgage rate cannot be more than six percent above the initial rate.
For example, PenFed says a $100,000 loan could have an initial interest rate of 3.750 percent (3.855 percent annual percentage rate), with principal and interest payments of $463.12 per month. (Taxes and insurance would increase your monthly payment.)
The maximum rate after 15 years on this loan would be 9.750 percent; however, most borrowers sell their homes or refinance within five to seven years after taking out a new loan.
For more information about PenFed, visit PenFed.org or call 800-247-5626.
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