Urban Investment Partners (UIP) has completed a two-year gut renovation of a formerly vacant apartment building originally developed by iconic Washington, DC real estate entrepreneur Harry Wardman in Columbia Heights. Isabella now offers 38 modern apartments that are now 65 percent leased.
Aria Development Group has just unveiled its latest dramatic multifamily residential transformation: The Alden, located in Washington’s storied Columbia Heights neighborhood. On the heels of its $10 million renovation of The Bond apartments near Dupont Circle, The Alden brings Aria’s sensibility and attention to detail to another great DC market. Forty-four one- to three-bedroom apartments at The Alden are now available, with monthly rents for market-rate units starting at $1,950. The Alden, located at 2620 13th Street, NW, comprises three connected Colonial Revival-styled multifamily buildings constructed in 1904 and listed on the National Register of Historic Places. Aria paid $5 million to acquire the greatly deteriorated property in 2012, and commenced a $6 million gut renovation.
Following completion of a $2.7 million full-building restoration, Urban Investment Partners (UIP) has welcomed back long-time residents of Park Road Courts at 1346 Park Road, NW, in the Washington, DC neighborhood of Columbia Heights.
Urban Investment Partners (UIP) closed its third and final acquisition of 2012 with the $2.4 million purchase of the 32-unit apartment building at 1483 Newton St., NW in the Columbia Heights neighborhood of Washington, DC.