This new 200,000 square-foot housing and retail project sits atop the Georgia Avenue-Petworth Metro Station. The largest mixed-used development project along the Georgia Avenue corridor, the $71 million Park Place includes 161 apartment units and 17,000 square feet of ground floor retail space located directly above the Georgia Avenue/Petworth Metro Station. Twenty percent of the residential units will be reserved at affordable rates, and residents will also benefit from 187 underground parking spaces. The landscaped rooftop has a sundeck and a bocce green lawn, with panoramic views of city attractions like the National Cathedral, the Washington Monument and the US Capitol.

The project also has many environmentally sustainable design, such as energy-efficient appliances and light fixtures, a built-in storm water management system, rooftop plant fixtures for rainwater containment, and white roof tiles that resist heat so the building uses less energy to cool its interior. The first floor of Park Place will offer a mix of national and local neighborhood-serving retail. More than half of the new jobs to be created by the development of Park Place will be filled by District residents. Park Place has already received awards in the real estate industry, such as the 2009 Economic Development Award from the Association of African American Real Estate Professionals (AAREP).

The project, which was awarded to Donatelli Development and Gragg & Assoc by the Office of the Deputy Mayor for Planning and Economic Development through a competitive process in 2004, is a joint-venture with Canyon Capital Realty Advisors and Earvin “Magic” Johnson.

Location

Park Place is located at Georgia and New Hampshire Avenue NW ( atop the Georgia Avenue-Petworth Metro Station)

Development Program

•  Market Rate Residential Units: 156 apartments + 5 townhouses
•  Affordable Residential Units: 31 or (20 percent of all units)
•  Retail (GSF): 17,000
•  Parking: 187 underground spaces
•  Development Cost: $60 million

Community Benefits

•  Creates a vibrant and attractive streetscape
•  Introduction of neighborhood-serving retail, including a new coffeehouse and restaurants
•  Twenty percent of the housing units will be made affordable

Economic Opportunities

•  Twenty percent participation by certified local businesses
•  At least 51 percent of new jobs created by the project are to be filled by District residents

Environmental Sustainability

•  Built atop a major transit hub and along the busy Georgia Avenue corridor