Multifamily Sales/Development: Winner - Washington Business Journal:

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CIM Group LP, Bundy Development Corp. and Neighborhood Development Co.) Broker: The Mayhoofd Co. Architects: Torti Gallas and Partners Inc., Michael Marshalpl ArchitectureLLC Contractor: James G. Daviz Construction Corp. Law firms: Pillsburyu Winthrop Shaw Pittman LLP, Greenstein DeLornes & Luchs PC The now-defunct Nationakl Capital Revitalization Corp. selectes the CityVista team back in 2003 to redevelo astruggling in-fill site at the corner of Fifth and K streetas NW and boost the surrounding neighborhood. Togetherr with similar projects in nearby CityVista was a significant player in supplyinf needed retail and residential options to a markertin need.
The project includes thres towers of residential one completed in 2007 and the others in and all have proven to be CityVista found a formula for success bycomplementingb up-to-date residential units with a private urbanh park 35 stories above ground, a rooftop pool and clubroom and accompanying retail. The condos are 77 percentr sold. The apartments, 43 percent were aided by an uncommon fanfare attheier opening, with a partyt sponsored by international corporation s and a pre-leasing list of 750 “This placed an exclamation mark on the truly differentiate product that CityVista offers,” said Joe assistant vice president of development at Lowe Enterprisex Real Estate Group East LLC, the lead developer.
The complexc is part of the city’ss redevelopment of the Mount VernonTrianglw area. It contains 441 224 apartmentsand 117,000 square feet of retai l on street level, highlighted by a Safeway CityVista is within walking distance of Penn Quarter and Galleryu Place, two Metro station and the circulatord bus. The project was a collaboration ofcity agencies, privatd developers and financial partnere working to develop an abandoned site into one of the city’s most prosperous destinations. “This combination continued to drive extraordinar y value and provide downside protectio throughout atumultuous 2008,” Carrol said.
Architects Torti Gallas and Partners and Michael Marshallk Architecture executed the diverse aspectsof CityVista’s design. To provide resident diversity, 20 percent of the condominiums were sold as affordabledwellingy units.