Plans for the Halley Rise development. Image credit: FairfaxCounty.gov
Some of the hottest trends driving multifamily housing development today can be seen in the latest projects our team has bid and won. CIP Finishes has been furnishing and installing interior finishing hardware in multifamily communities since 1986, so we enjoy seeing how the talented developers we are fortunate to work for constantly redefine and improve apartment living.
Office-to-residential conversions
The post-Covid world has left Washington, D.C., with far fewer daily office workers. In response, the city set a goal to attract 15,000 new residents to downtown D.C. One way it hopes to get there is by encouraging the conversion of underused office buildings into residences.
According to an Axios survey, nearly 2,500 of these units are in the works. One example is a project we recently sold at 1313 L Street, which will convert a 1980s office building off Thomas Circle into 222 residences. We will supply and install a variety of finish items in this project for general contractor WCS Construction, including unit bath accessories and shower doors, common-area bath accessories and mirrors, fitness lockers, pet spa accessories, bike racks, mailboxes and more.
Another example of this trend in the Richmond market is a project our crews are working on now named Mutual on Main. This project, led by general contractor L.F. Jennings Inc., is converting one of Richmond’s first high-rise buildings, built in 1904, into 168 apartments.
Transit-oriented development
As roads struggle to keep up with the surge in population driven by D.C.’s hot jobs market, there is growing recognition of the need to build more homes near transit hubs such as Metro stations. We have worked on many transit-oriented development communities over the years, and we see this trend continuing in projects we’ve sold so far in 2023.
Halley Rise is a 30-acre, mixed-use community underway in Reston that is situated around the Reston Town Center Metro Station. The station is one of several on Metro’s newly extended Silver Line, connecting all the way to Dulles International Airport.
We are proud to be working with general contractor CBG Building Company on this project. We will supply and install unit and common-area bath accessories, shower doors, interior door hardware, mailboxes, bike racks, lockers and more in this 480-unit residential community.
We also see more transit-oriented development on the north side of Washington. At Strathmore Square, a redevelopment of the Grosvenor-Strathmore Metro area in Bethesda, we’ll be working with general contractor Whiting-Turner to supply and install several different finish items, including unit and common-area bath accessories, partitions, mailboxes, fire extinguishers, shelving and more.
Redevelopment in SW
As baseball season begins, we’re excited to look back on the many projects we’ve worked on around Nationals Park. Developments such as these continue to bring new vibrance to this area of Southwest Washington, D.C., and that energy continues to grow.
A major new job we sold this year is the Vermeer, a 501-unit luxury community owned by Toll Brothers Apartment Living. Located between Nationals Park and Audi Field, this mixed-use community represents more than $1 million in work for us with general contractor CBG Building Company.