Urban Pace Sells Out 'The Nine' in Just 6 Weeks

Jan 28, 2010, 13:30 ET from Urban Pace

WASHINGTON, Jan. 28 /PRNewswire-USNewswire/ -- Urban Pace, a Washington, DC, real estate sales company, today announced that it has completed sales at The Nine, a condominium project in the revitalized Ninth Street corridor.  Square foot prices at the project averaged in the mid- $500's.

"We are extremely pleased with the success we have achieved with Urban Pace at The Nine," said Grant Epstein, architect and founder of Community Three, the project's developer.

Located near the Convention Center and Historic Penn Quarter, The Nine was developed using forward-thinking principles of sustainability and Historic Preservation.  All materials taken down during rehabilitation were recycled, either within the project itself or for other uses. All materials acquired for use in the project came from within a 500-mile radius of Washington.

The building also features a green roof as well as HVAC systems that do not emit CFCs.

"Historic buildings are inherently sustainable. Preservation maximizes the use of existing materials and infrastructure, reduces waste, and preserves the historic character of our city," said Margaret Flinner, AIA, a local architect who specializes in sustainable approaches to building design.  "The sustainable approach to building, including rehabilitation, has become a necessity of intelligent development."

According to Epstein, using an environmentally sensitive design for the development only increased costs by only about 2% over the traditional approach.

"Buyers perceived a value in the approach much higher than the hard cost," according to Urban Pace sales manager Jeremy Aldridge.

Urban Pace (www.urbanpacenewhomes.com) was established in 2001 to provide specialized sales and marketing services to builders and developers of urban condominium and townhome projects.  Urban Pace Fine Homes (www.urbanpace.com) provides re-sale services in this same marketplace.

Community Three Development (www.communitythree.com) is a full-service real estate development company devoted to creating value through strong conceptual design and community-driven vision. It strives to respect regional architectural practices, champion the use of sustainable construction, and encourage community involvement throughout the entire development process.

SOURCE Urban Pace