A new nearly 700-unit apartment building and retail space is coming to the Cathedral Heights neighborhood in Northwest D.C.
Donohoe Cos. and partner Apartment Investment and Management Company have secured $174 million in financing for construction of Upton Place on Wisconsin Avenue in Northwest and will break ground early next year.
The 689-unit residential buildings will be at 4000 Wisconsin Ave. across from Sidwell Friends School. It will include 100,000 square feet of retail space.
Upton Place is adjacent to the former Fannie Mae headquarters, which is being redeveloped by Roadside Development as a Wegmans-anchored mixed use community called City Ridge.
Upton Place will replace aging office buildings Donohoe developed in the 1980s, that were occupied by Fannie Mae in addition to its former headquarters campus.
The project is expected to be completed sometime in 2024.
“Upton Place is one of the most sophisticated real estate transactions in our company’s storied history,” said Donohoe Development President Evan Weisman. “To successfully execute a project of this magnitude, while managing through a once in a century pandemic, is nothing short of incredible.”
When complete, Upton Place will include a six-story building and an eight-story building, and will include three courtyards, two rooftop spaces, a pool, yoga studio and fitness center.
Fannie Mae relocated to its new Midtown Center headquarters at 1100 15th St. NW in 2018.