MINT HOUSE ANNOUNCES FIRST LOCATION IN DOWNTOWN WASHINGTON, D.C.

The Property is a One-Of-Its-Kind Conversion, Transforming A Former Historic Office Building Into a Boutique Hospitality Offering

NEW YORK, July 25, 2023 /PRNewswire/ -- Mint House, the premier tech-enabled flexible living option that offers spacious, premium apartment-style accommodations across the U.S., announced today the impending opening of Mint House Downtown Washington D.C, located at 1010 Vermont Avenue NW in the heart of the nation's capital; set to open in early 2025.

Altus Realty, who led the acquisition of the property in 2022, will convert the existing 11-story structure – formerly an office building – into 85 high-end apartment-style flexible rental units to be operated by Mint House. Construction is scheduled to begin in November 2023. While the company's real estate footprint has more than doubled nationally in the past two years, this transaction marks Mint House's first foray into Downtown Washington, D.C.

Mint House Downtown Washington, DC provides a premium, stay-on-demand offering that gives guests the option of nightly, short-term, or long-term living. Guests will have access to the building amenities which include but are not limited to an on-site fitness facility, a dedicated meeting space, and a cafe. Each apartment-style hospitality unit, ranging from studios to two-bedrooms, will be equipped with a kitchen, living and dining areas, and ample workspace. Located just steps away from McPherson Square Park, Mint House Downtown Washington D.C. is surrounded by distinguished restaurants, shops and businesses. The White House and DuPont Circle, and the 14th Street corridor are within walking distances, while the metro is just a block away.

"Mint House is thrilled to partner with Altus Realty in a one-of-its-kind conversion, turning a roughly 68,000 square foot office building in the heart of D.C. into a boutique residential hospitality offering. We believe that this property conversion will demonstrate a general turnkey solution for many building owners post-pandemic who may seek to maximize upside by alternative conversion to residential hospitality" said Paul Sacco, Mint House's Chief Growth & Development Officer. "We're very much looking forward to working alongside the Altus team in designing, opening and operating Mint House's first Washington D.C. location in the months to come."

"1010 Vermont is an exceptional office to residential conversion opportunity and we are excited to be working with Mint House on this project which ultimately allows us to provide guests and travelers a flexible residential hospitality experience," said Altus Realty Partner Gordon Fraley. "Our goal when converting this property from office space to rental units has always been to expand available living options in downtown Washington DC and Mint House has been a key partner helping us do just that."

The brand's unique flexible rental model is advantageous to guests and building owners alike. Mint House provides more options for guests, both accommodating the growing need for short term housing and catering to travelers looking to spend time in any of Mint House's prime locations. For building owners, increased overall demand for hospitality offers optimized returns due to Mint House's operational expertise and dynamic pricing. Mint House's flexible rental model also benefits the cities themselves by providing a need not filled anywhere in the market: premium rentals for those in need of a short-term housing option – eliminating the need for subleasing – that also accommodate tourism, business travel and single-night stays."

Today, Mint House has more than 25 artfully designed, tech-first properties in 16 major U.S. cities including New York, Philadelphia, Miami, Austin, and Nashville, with recent openings in Dallas, Birmingham and St. Petersburg, Florida.

About Mint House

Mint House is a revolutionary, new concept in flexible living that combines the classic comfort of home and the convenience of a hotel. Powered by technology that makes every step of the process easy to use, Mint House creates a new option on the market for long or short-term stays. Whether a traveler needs 2 days, 2 weeks or 2 months, the company provides apartment style amenities - a washer/dryer, stove, and dishwasher - with the professionalism and service of a premium hotel. Mint House's award-winning properties are thoughtfully designed with kitchens, expansive living areas and connected workspaces — offering a new kind of stay with personalized service and consistency. Mint House's proprietary tech stack and mobile-first model powers a seamless and feature-rich guest experience including mobile check-in and keyless entry, pre-stocked groceries, 24/7 digital concierge services, on-demand fitness, smart thermostats and shoppable spaces. For more information, visit minthouse.com and follow @staymint on Instagram.

About Altus Realty

Altus Realty is a full-service real estate development and investment company based in Arlington, VA. From repositioning underperforming assets to developing ground-up projects, we focus on creating mixes of residential, office, retail and hospitality experiences that inspire. Our thoughtful, crafted approach to each project is guided by a strong vision grounded in the particular context of each site. We seek to elevate surrounding neighborhoods with each of our projects. Together with our investors, which range from major institutions to individuals, we are committed to building long-term relationships and value. Additional information about Altus Realty can be found at altusre.com.

SOURCE Mint House