WASHINGTON, DC – High Street ResidentialSM, the residential subsidiary of Trammell Crow Company, and its joint-venture equity partner, KochSmith Capital, have partnered with Central Armature Works (CAW) to redevelop the existing electrical repair and supply warehouse at 1200 3rd Street, NE, Washington, DC. High Street Residential plans to transform this key parcel in the NoMa neighborhood into a vibrant, mixed-use development including for-sale and rental residential units, neighborhood-serving retail and a hotel.
CAW is a 2.5-acre development site located directly adjacent to the NoMa Metro station, at the nexus of two of the most popular retail and entertainment districts in the city, the H Street corridor and Union Market. The Project’s design calls for the development of an apartment building, a condominium building, outdoor public space, street-level retail, and a hotel. To allow for greater density, the development team is planning to take the Site through the District’s Planned Unit Development (PUD) process.
“In recent years, the NoMa neighborhood has evolved dramatically. High Street Residential/Trammell Crow Company, Central Armature Works and our financial partners are excited to be part of such an iconic, transit-oriented development that will further add to the redevelopment momentum of the neighborhood,“ said Josh Dix, Senior Vice President and National Residential Practice Leader for High Street Residential/Trammell Crow Company.
Holliday Fenoglio Fowler, L.P. (HFF) represented Central Armature Works and was critical in facilitating this highly-complicated transaction.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
About High Street Residential
High Street Residential, a wholly-owned operating subsidiary of Trammell Crow Company, specializes in the development of multifamily housing. We have a deep background in urban, infill mixed-use residential development, as well as the redevelopment or repurposing of existing facilities. Since 2000, the Company has completed 6,125 units in over $1.5 billion in value with a current pipeline of more than 2,100 units valued at $540 million.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired nearly 2,600 buildings valued at nearly $60 billion and over 540 million square feet. As of June 30, 2015, TCC had $6.0 billion of projects in process and $3.7 billion in its pipeline.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 16 major cities throughout the United States. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential and mixed use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet its clients’ needs. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development, or providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). For more information visit www.TrammellCrow.com.