Mill Creek Announces Start of Second Phase of The View at Waterfront
New Development to Complement Existing Residential Community, Adding 276 Apartment Homes
WASHINGTON, Oct. 11, 2016 /PRNewswire/ -- Mill Creek Residential, a leading multifamily investor and operator specializing in premier apartment communities across the U.S., today announced the start of construction on the second phase of The View at Waterfront in Washington, D.C.
The second phase, which is being developed in partnership with John Hancock Real Estate, will feature 276 apartment homes and about 3,900 square feet of retail space, complementing the existing rental residential community that offers 256 apartment homes. Phase II, located along the Southwest Waterfront, will incorporate the original aesthetic of the first phase, which was designed by architect I.M. Pei, and add a modern flair.
"Companies and people continue to flock to Washington, D.C. due in part to its stable economic base and its highly educated workforce, not to mention game-changing investments like The Wharf, where the historical landscape of Southwest DC will never be the same again," said Sean Caldwell, senior managing director of Mid-Atlantic for Mill Creek.
Located at the intersection of 6th Street and M Street SW, the community benefits from prime transit access, just two blocks from the Waterfront Metro Station. Several key neighborhood attractions are also within walking distance, including Nationals Ballpark, Capitol Hill, Washington Navy Yard and Arena Stage, a venerable regional theater.
The community sits steps from The Wharf, a $2 billion redevelopment that will include a blend of retail, residential, office and cultural space. Included is a 5,000-seat concert venue.
"To match its unparalleled location, the second phase of The View at Waterfront will offer a variety of home styles, finishes and amenities that simply can't be found at any other community in the market today," said Josh Posnick, vice president of the Mid-Atlantic for Mill Creek. "From its unique size and twist on open space to the overall layout and diversity of amenities, the final product is designed to better meet the demands of new and existing residents."
The second phase of The View at Waterfront will be the first of its kind in the District. The project is composed of two seven-story buildings with five stories of wood atop two levels of concrete. In addition to apartment homes, the north building will include amenity space and the south building will feature a clubhouse along with ground floor retail. Each building will include two levels of below-grade parking.
The community will consist of studio 1- and 2-bedroom apartment homes with loft options available. Community amenities will include a state-of-the-art fitness center with a mind/body studio featuring fitness on demand, a seventh-floor terrace with a wet bar and dining area, remote working stations with conference tables and a business equipment center and outdoor game space.
Including the second phase of The View at Waterfront, Mill Creek has developed more than 4,100 apartments in the Washington, D.C. area.
About Mill Creek Residential
Mill Creek Residential Trust LLC is a national multifamily company focused on the development, acquisition and operation of apartment communities in targeted markets nationwide. The company proactively pursues development, acquisition and construction opportunities through its seasoned team of real estate professionals in 14 offices across the United States. Mill Creek is building its portfolio in many of the nation's most desirable apartment markets in Seattle, Portland, the San Francisco Bay area, Southern California, Denver, Dallas, Austin, Houston, South Florida, Tampa, Orlando, Atlanta, Washington, D.C., New Jersey, New York, and Boston. As of June 30, 2016, the company's portfolio comprises 58 communities representing nearly 16,800 apartment homes that are operating and/or under construction. For more information, please visit www.MillCreekPlaces.com.
About John Hancock Real Estate
Manulife has been investing in and managing direct core and core-plus real estate for more than 80 years. Operating as John Hancock Real Estate in the U.S. and Manulife Real Estate elsewhere, we proudly invest, own, develop and asset manage commercial real estate in major metropolitan cities across the globe. We leverage our fully integrated in-house capabilities to best serve our customers and investors while generating value for our stakeholders. Manulife Real Estate is the global real estate arm of Manulife and is a unit of Manulife Asset Management Private Markets where we extend our unique asset management capabilities for the benefit of institutional investors. As at June 30, 2016, the portfolio totaled more than 62 million square feet with an AUM market value of C$19.8 billion (US$15.2 billion). To find out how you can benefit from our unique approach to real estate please visit us at www.johnhancockrealestate.com.
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SOURCE Mill Creek Residential
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