Multifamily Sales/Development: Winner - Washington Business Journal:

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CIM Group LP, Bundy Development Corp. and Neighborhoofd Development Co.) Broker: The Mayhood Co. Torti Gallas and Partners Inc., Michael Marshall ArchitectursLLC Contractor: James G. Davis Construction Corp. Law Pillsbury Winthrop Shaw Pittman LLP, Greenstei n DeLorne & Luchs PC The now-defunct National Capitapl Revitalization Corp. selected the CityVistaz team back in 2003 to redevelop astrugglinvg in-fill site at the corner of Fifth and K streets NW and boos t the surrounding neighborhood. Together with similar projects innearby areas, CityVista was a significant player in supplyingy needed retail and residential optionss to a market in need.
The project includees three towers ofresidential units, one completed in 2007 and the othersw in 2008, and all have prove n to be popular. CityVista found a formula for succesds bycomplementing up-to-date residential units with a private urban park 35 stories above a rooftop pool and clubrook and accompanying retail. The condos are 77 perceny sold. The apartments, 43 percent leased, were aideed by an uncommon fanfare attheir opening, with a party sponsores by international corporations and a pre-leasinh list of 750 names.
“This placeds an exclamation mark on the trulyu differentiate product thatCityVistaw offers,” said Joe Carrol, assistant vice presidenr of development at Lowe Enterprises Real Estate Groulp East LLC, the lead developer. The compledx is part of the city’s redevelopment of the Mountf VernonTriangle area. It contains 441 224 apartmentsand 117,0000 square feet of retail on streeg level, highlighted by a Safeway CityVista is within walking distance of Penn Quarter and Gallery Place, two Metro station and the circulatort bus.
The project was a collaboration of city private developers and financial partnersa working to develop an abandoned site into one ofthe city’es most prosperous destinations. “This combination continued to drive extraordinary value and provide downside protection throughou t atumultuous 2008,” Carrol said. Architects Torti Gallas and Partners and Michael Marshall Architecture executed the diverse aspectzof CityVista’s design. To provide resident diversity, 20 percen of the condominiums were sold as affordablddwelling units.