501 H Now Leasing, 315 H Tops Out

501 H Street NE is a new 6 storey apartment building nearing completion with 28 rental units. The building includes three levels of retail. And yes, retail is the real focus here, with a whopping 22,000 sq ft of it, including a two-level open atrium near the entrance. Hopefully the brokers get creative; I could see a whole host of diverse tenants working in that space. And not just bars & restaurants. 

The retail space isn't *quite* ready for its close-up, but the apartment units are already leasing. I still can't accept the reality of apartment prices in DC, as the units here range from $1,991 per month for a 575 sq ft studio to a $3,344 per month 1,123 sq ft 2 BR unit. It's all very disappointing, but expected nowadays. How has the inventory crept up with no corresponding let down of rates for new buildings. I don't know. But the units appear to be nice and the location is great. 
315 H Street just topped out at eight floors and the builders are moving right along with skinning the building and starting on the interior build out. I just wrote this project up a few weeks ago, but the details are 112 units for lease with 6,000 sq ft of retail.

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