After a decade of work, there are finally plans to redevelop a D.C.-owned site at the corner of Fifth and Eye streets NW. The plans involve constructing a residential development with both hotel and apartment units. The 12-story project will total 174,278-square-feet with 153 hotel rooms and 52 apartments. The hotel will span the first eight floors, while the apartment will span the final four floors. The building will also include a 5,500-square-foot meeting/function space and 7,000-square-feet of restaurant and cafe space on the ground floor. Expect 86 total parking spaces. The development's 61 affordable units will be located off-site in a seven-story building at 2100 Martin Luther King Jr. Avenue SE. The developer, Peebles Corporation, also plans on renovating Seaton and Milian parks in Mt. Vernon Triangle. While the half-acre lot was worth less than $18 million, the developer purchased it for $28 million.
· Here's the Peebles plan for a hotel-apartment house in Mount Vernon Triangle [Washington Business Journal]
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