High Street Residential, 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.