Perseus TDC Starts Construction On 158-Unit Apartment Building Near Logan Circle
A multifamily development planned for the parking lot next to 16th Street's historic Masonic temple is moving forward.
Perseus TDC announced Tuesday it broke ground on a 158-unit development at the intersection of 15th and S streets NW. A spokesperson said it began construction activity on July 19, and it expects to deliver the project in spring 2023.
The apartment project is being built on the 45K SF parking lot next to the 103-year-old temple. The Scottish Rite of Freemasonry, which owns the temple, leased the lot to Perseus and plans to use the revenue to renovate its building.
The project sits one block from the 14th Street corridor and roughly a half-mile from Logan Circle, U Street and Dupont Circle.
The plans have faced challenges from neighborhood groups arguing the parking lot should be included in the temple's historic landmark designation, but the developers received a favorable ruling from the Mayor's Agent for Historic Preservation in November.
The five-story, 115K SF project is planned to have amenities including a fitness facility, a business center, an entertainment space, a rooftop pool with grilling stations and a 10K SF backyard garden. It will also have 108 below-grade parking spaces.
Perseus TDC, an affiliate of Transwestern Development Co. formed in 2017 when it teamed up with Perseus Realty, brought on Allstate Insurance Co. as the equity partner for the project. Hickok Cole is the project's architect and Harvey-Cleary Builders is the general contractor. Goulston & Storrs is the legal services provider, GKV is the interior designer and VIKA is the civil engineer.
“The Logan Circle submarket is in high-demand for the area’s young professionals,” Perseus TDC Regional Partner Adam Peters said in a release. “By developing 15th and S, we will be able to meet the ongoing demand for best-in-class housing in an area that is currently 95% leased.”
