The City Ridge Project in Northwest, Washington DC is coming to fruition with the opening of the city’s first Wegmans and the development’s first apartment building. According to reporting from WTOP and personnel at the project, a Wegmans will be opening in July. Although Wegmans has 20 units in the DMV, according to WTOP, City Ridge Wegmans will be the first of the chain’s grocery stores to open within the city’s borders.
A new marketing campaign has announced the Ritz-Carlton Residences in Chevy Chase. A recent email describes the community as “iconic living” and “effortless beauty.” The Washington Business Journal reported on the partnership between The Bozzuto Group and Ritz-Carlton Residences in October.
Construction on luxury residential units continues in the Northern Virginia Region despite the fact that apartment rental prices have been depressed during the pandemic-induced economic softening in the area. Northern Virginia rental rates dropped more than 7 percent, according to a Washingtonian report in October. Nonetheless, pivotal projects in the region are ongoing based on projected demand, particularly in neighborhoods that are being transformed into more walkable communities.
According to Urban Pace, a sales and marketing services firm in real estate development, only two luxury residences remain at the prestigious The Lauren condo building. During the pandemic, two units went under contract, including a residence over $3M. Part of the popularity has been the outdoor living spaces that come with the luxury-rich residences in Downtown Bethesda.
The mixed-use Scotts Run development, which encompasses 6.5 million square feet in Tysons, Va., is taking shape. The project sits adjacent to the WMATA McLean Metro station and the Capital One Campus. Dolley Madison Boulevard divides Scotts Run South and Scotts Run North. An entertainment space, managed by Capital One, is emerging, along with corporate office and amenities space and a corporate hotel structure, to the north of the McLean Metro station tracks. Cityline Partners serves as the master developer for the entire Scotts Run project.
Pre-leasing began at The Waycroft luxury apartment residences, which debut in spring 2020. Developer Saul Centers created three separate buildings in a community that will boast 491 apartments. One- and two-bedroom townhomes with separate entrances are also part of the Waycroft community. The building stands prominently at the intersection of Glebe Road and Wilson Boulevard. Floor plans range from studios to three-bedroom units.
The Batley luxury apartments in Washington, D.C. began leasing last month. La Cosecha Latin Market will be part of the retail space in the historic building near Union Station. The Batley kept is throwback look with a historic, brick-accented street-level facade, contrasting its modern template for the residences above. The project was finalized and delivered by Level 2 Development. A total of 432 luxury residential will lease up in the 11-story building.
If you have it, flaunt it. That’s the saying in some circles, and an outlook working well for Porsche Cars North America. The U.S. importer and distributor of Porsche vehicles, including the Porsche 911, 718 Boxster and Cayman, Panamera, Cayenne, and Macan model had a record sales month. During July, 4,956 vehicles were sold, setting a new record, up 23.3 percent from the same month last year.