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More Details About The Montrose; Onyx on First Tenants

SOUTHEAST—The tenant group that is trying to buy their apartment building, Onyx on First, has run into trouble with the company that owns the building who says they didn't come up with enough tenants by the deadline. [WBJ]

MCLEAN—Very close to the top of the list of most expensive local homes ever is this home on Chain Bridge that is going to foreclosure auction at the end of next month. It has been valued at around $20M. [UrbanTurf]

GEORGETOWN—The news that the former Hurt Home, now The Montrose, broke ground earlier this week has already made the rounds. But we did receive a press release that tells us the project's website and that the 15 units will range from the $700s to 2M. Click through for the press release. [CurbedInbox; OfficialSite]

ARGOS GROUP BREAKS GROUND ON THE MONTROSE IN HISTORIC GEORGETOWN
Washington, DC, August 22, 2012 – Argos Group together with their development partners, civic and community leaders and business representatives, broke ground Tuesday on its newest residential development The Montrose, a 15-unit luxury condominium community located in Washington, DC's esteemed Georgetown neighborhood.
The Montrose will offer elegant living with a historical flair. Each home will be custom designed with modern amenities but will also feature traditional finishes, including exteriors that have been historically restored to their original splendor. The Montrose will include three affordable dwelling units. Homes will be available as early as Fall 2013.
"We are excited to begin work on The Montrose, which will offer high-end living in a sought-after historical setting," said Gilberto Cardenas, President of Argos Group. "We believe this combination of modern amenities and storied ambiance will appeal to buyers seeking to be part of Washington, DC's rich history and thriving housing market."
Argos Group is the developer for the project, with Potomac Investment Properties and Eichberg Construction serving as partners. Sorg Architects is providing designs and Urban Pace is managing sales and marketing services. The Montrose is located at 3050 R St NW, Washington, DC 20007.For more information, please visit www.themontrosegeorgetown.com or call 202.303.3456.