Just less than a year after buying into Scott’s Addition, a Northern Virginia-based organization is on the lookout to increase to its footprint in the community in a massive way.
Bonaventure Realty Group last 7 days submitted strategies for Scott’s Edge II, a combined-use challenge at 1700 Belleville St. that would add 203 apartments throughout two properties in the northwest corner of Scott’s Addition.
The job would be a new-construction extension of the original Scott’s Edge, the 94-device apartment elaborate Bonaventure bought previous 12 months for $18 million. Scott’s Edge was amongst the neighborhood’s 1st adaptive reuse tasks from 2013.
Scott’s Edge II would be manufactured on various a lot totaling 1.5 acres distribute across 1604, 1700 and 1702 Belleville St., all of which Bonaventure procured by using piecemeal transactions more than the training course of a 12 months for a blended $2.45 million.
The previous of individuals 3 bargains closed last week, when it compensated $1.4 million for the .3-acre plot at 1702 Belleville St. The house is at this time home to a vacant warehouse. Divaris Serious Estate’s Browse Goode and Cheryle Toy experienced that listing.
Bonaventure CEO Dwight Dunton III said more than the summer months that the enterprise did not have any immediate options to redevelop the land. Nonetheless, previous week he stated matters have moved more quickly than the business experienced to begin with forecasted.
“Our extensive-expression technique of becoming affected individual house owners in a speedy-rising community has gotten microwaved,” Dunton explained. “I feel the speed of Belleville is just a reflection of the desirability of the neighborhood and the impact of action begetting more exercise.”
Dunton explained the programs for Scott’s Edge II are however a operate in progress, but original filings exhibit it would add 203 flats models across two 5-tale structures. Beneath the buildings would be parking decks with 256 spaces.
The ground floors would have an unspecified sum of commercial house and the rooftops would be utilised as amenity house for inhabitants.
“It’s heading to be a class-A multifamily group. We feel there’s nevertheless lots of need to live in Scott’s Addition,” Dunton said.
Missouri-based J. Price tag Architecture is the project’s designer, Timmons Group is the engineer and buildout would be led by Bonaventure Development, the firm’s in-home common contractor.
Bonaventure is hoping to split floor in the fourth quarter of 2021 and forecasts a 12- to 18-month buildout. The undertaking price tag was not disclosed.
A different out-of-town developer is generating an even bigger wager than Bonaventure on Scott’s Addition. South Carolina-centered Greystar filed programs last fall for 350 flats at the former Relay Meals warehouse at 1601 Roseneath Road. Get the job done has not but begun on that project, though last month demolition permits had been submitted for the web page.
Scott’s Edge II would be flanked by new corporations on either aspect, with auto store Ironwood Automotive to its left and vineyard Brambly Park to its right.