Citybizlist Washington DC: Bozzuto, Abdo, Pritzker Break Ground on Monroe St. Market
November 09, 2011
The Bozzuto Group, Abdo Development and Pritzker Realty Group broke ground Wednesday on the $200 million multiphase development that will transform The Catholic University of America's South Campus into a vibrant, mixed-use community.
The multi-phase development is located on five city blocks in Washington, D.C., adjacent to the Brookland-CUA Metrorail station and just three miles north of the U.S. Capitol. Financing consists of a construction loan provided by Bank of America, TD Bank, and Fifth Third Bank as well as equity funded by Bozzuto, Abdo and Pritzker.
The community will ultimately consist of 720 residential units, 45 townhomes, 80,000 square feet of street-level retail, 15,000 square feet of artist studio space, a 3,000 square-foot community arts center, and 850 parking spaces.
Approved plans also include streetscape and hardscape improvements, which will improve walkability, creating a lively, pedestrian-friendly atmosphere and significantly improving traffic patterns and pedestrian crossings along Michigan Avenue and Monroe Street.
The first phase, consisting of 562 residential units, is scheduled for completion in Summer 2013.