Tuesday, April 16, 2024

Carmel Partners Breaks Ground on Washington D.C. Development Project, 1150 First Street

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At the intersection of First Street Northeast and Pierce Street Northeast, Carmel Partners’ construction team broke ground this summer on their newest Washington D.C. development project, ‘The Hale.’ Experts in the multifamily real estate industry, Carmel Partners will add an enhanced addition to the D.C. skyline, while introducing a refined living experience for today’s professionals. The Hale will offer 500 rental apartments in a 15-story high rise and about one-third will include balconies.

Revitalized by an urban renaissance, D.C. began as a city with few attractive dining, nightlife, and retail destinations, but now serves as a vibrant center for life and culture. Among the most appealing districts is North of Massachusetts Avenue (NoMa), an area with heightened connectivity to the heart of D.C., attracting the nine-to-five workforce crowd. Categorized by an atmosphere of maturity, NoMa houses the city’s career-driven professionals in their twenties and thirties. With this demographic in mind, Carmel Partners will offer NoMa residents a smart and thoughtful place to call home.

Recognizing the importance of location for busy professionals, Carmel Partners will develop The Hale with easy access to transportation, connecting residents to major employment hubs throughout the city. Positioned just two blocks from the NoMa Red Line Metro Station and under half a mile from Union Station, residents access local and regional travel options at the height of convenience. Not to mention, NoMa is highly walkable and bikeable for those staying within the district, with bike repair and storage available to all residents of The Hale.

As residents live on the go, Carmel Partners’ The Hale will cultivate a place of refuge through design that mirrors the modern aesthetic of NoMa’s sophisticated crowd. Starting in the impressive two-level lobby, residents will enter an urban sanctuary created by clean lines and a natural color palette, complemented by eye-catching architectural elements. Integrated into its timeless design will be an abundance of greenery throughout living and working spaces, further establishing The Hale as a haven for relaxation, set apart from its bustling surroundings. The project will also feature an outdoor plaza plus more than 12,500-square-feet of ground-floor retail.

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With development underway for The Hale, Carmel Partners utilizes a level of vision and precision to ensure enduring value over time. The firm’s vertically integrated real estate platform has informed many other development projects from coast to coast, such as ‘Cumulus District’ in Los Angeles. A multifamily apartment complex with elevated finishes and state-of-the-art amenities, Cumulus District continues to find success in the ever-changing neighborhoods of West Los Angeles. Carmel Partners intends for The Hale to have the same impact on the East Coast, forming a lasting connection within D.C.’s NoMa district.

Projected to begin leasing in the Summer of 2023, Carmel Partners invites D.C. residents to imagine the perfect balance of work and play, brought to life at The Hale.

About Carmel Partners
Carmel Partners is one of the leading specialists in real estate investment management with a focus on U.S. multifamily acquisition and renovation, and development and construction. The company also specializes in debt and lending opportunities. Carmel Partners, LLC was founded in 1996 and has offices across the country, including San Francisco, Los Angeles, Irvine, New York City, Seattle, Washington D.C., and Denver. For more information, please visit www.carmelpartners.com.

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