Peterson Companies Enters District of Columbia with New Mixed-Use Condominium and Retail Development
Ontario Theatre site to transform into 80 residential homes and 9,000 SF of retail
WASHINGTON, May 15, 2013 /PRNewswire/ — Peterson Companies, one of the largest privately-owned real estate development companies in the Washington, DC region, today announces development plans for the Ontario Theatre site located at the corner of 17(th) Street and Columbia Road, NW in Washington, DC. The project will include 80 residential homes and 9,000 SF of retail. This is the first residential development for the Peterson Companies in the District of Columbia.
“We believe in the economic vitality of the District of Columbia and are excited about investing our resources to create a beautifully designed residential and retail community in the Adams Morgan neighborhood,” said Stuart Prince, Senior Vice President – Residential at Peterson Companies.
The $30 million mixed-use project will commence vertical construction in the fall of 2013 with completion scheduled for spring 2015. Condominium homes will be available in studio, one-bedroom and two-bedroom floor plans, and will include gourmet kitchens, private balconies, hardwood floors, underground parking, and walk-in closets. Residents will enjoy access to a common rooftop terrace with stunning views of downtown Washington and the National Mall.
The building is being designed by The Eisen Group of Washington, DC, and draws inspiration from Adams Morgan’s rich architectural history of art deco residential blocks, while distinguishing itself with contemporary features that speak to newer, industrial-styled buildings. The proposed design will also incorporate certain art deco elements from the old Ontario Theatre, including a corner canopy, poster cases, and the “coming attractions” marquee signs.
McWilliams Ballard will manage residential sales with homes available for purchase in early 2014. Peterson Companies will handle the retail leasing and management. For more information, visit www.petersoncos.com.
About Peterson Companies:
Peterson Companies is one of the largest privately owned real estate development companies in the Washington, DC region and offers fully-integrated development services for commercial, office, residential and retail real estate. The company has developed, managed and leased more than 30,000 residential units and is responsible for some of the most prominent and successful mixed-use residential and office developments in Northern Virginia and Maryland including National Harbor, Virginia Gateway, Downtown Silver Spring, Washingtonian Center, Fairfax Corner, Fair Lakes, Burke Centre and Tysons McLean Office Park. Founded by Milt Peterson over 30 years ago, the company has an extensive two million square foot development pipeline throughout the Washington, DC region. For more information about the company, please visit www.petersoncos.com.
Media Contact: Angela Sweeney
Vice President – Corporate Marketing & Communications
SOURCE Peterson Companies