CBG Completes Student Housing Renovation at George Washington University
WASHINGTON—CBG Building Company completed its renovation today of Varsity on K, a 12-story student housing community within walking distance of George Washington University and the Foggy Bottom Metro Station. CBG renovated the post-tensioned concrete apartment community, originally built in 1986, to support open-concept living within its fully furnished studio, one-, two-, and three-bedroom units, and provide newly built amenities not previously available to students.
Varsity on K
"CBG has been an essential part of our success, every step of the way," said Donnie Gross, managing partner at Varsity Investment Group. "Their collaborative, team-oriented approach has allowed us to quickly pivot without delay when we've encountered unforeseen obstacles."
The renovation spanned a number of improvements to revitalize the highly visible community at the corner of K and 24th Streets NW. CBG surgically demolished interior walls in each unit to provide open-kitchen layouts; replaced or repaired the building's core MEP systems, including fire sprinklers and alarms throughout the building; and painted the exterior and replaced all of the aluminum windows and sliding glass doors.
"It isn't often that you have the opportunity to reposition an aging asset into a world-class community in one of the most sought after neighborhoods in Washington, D.C.," said Scott Shinskie, partner at Varsity Investment Group. "Varsity on K will be a welcomed addition for young millennials who are finishing their degree or starting their first job."
Varsity on K features luxury finishes such as quartz countertops, ceramic tile bathroom walls and floors, GE stainless steel appliances, and luxury vinyl plank and carpeted flooring. New community amenities include a landscaped courtyard terrace, fitness center, study lounge, and an entertainment room with fully outfitted gourmet demonstration kitchen.
"We were excited when Varsity Investment Group gave us the opportunity to renovate this building," said Keith Anderson, president of CBG. "The finished product is simply outstanding, and a testament to the vision of the Owner and the cooperation we shared with the design team at Soto Architecture. In under seven months, our team completely transformed this building into a landmark student housing community."
In addition to Varsity on K, CBG's recent renovation and adaptive reuse portfolio includes: Varsity on Charles, a 12-story student housing community at Johns Hopkins University in Baltimore, MD for Varsity Investment Group; Brightleaf & Cooper, a LEED luxury townhome community in Alexandria, VA scheduled for completion in April, 2017; and Willow & Maple, a 102-unit community with three historically restored single family homes in Washington, D.C.
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About CBG Building Company
Through a relentless pursuit of innovation, a steadfast commitment to quality, and active collaboration with clients, CBG has been delivering award-winning communities from coast to coast for more than 25 years. CBG's professional construction team builds more than 4,000 homes each year, providing high-quality, responsive service backed by a significant bonding capacity and national resources. CBG's experience spans a diverse portfolio of geographic areas and product types, including luxury, mixed-use, and affordable housing apartments, as well as campus housing, military family communities, and senior living facilities. Together, we draw on the knowledge gained through building more than 80,000 housing units since 1992. For more information, visit www.cbgbuildingcompany.com.
About Varsity Investment Group
Varsity Investment Group, formerly Potomac Holdings, is one of the nation's most well respected real estate developers of multifamily housing with communities dotting the continental United States. In 2009 Varsity set out to redefine the concept of student housing by developing unparalleled living experiences for its residents and the communities in which they sit. Since its formation in 2002, Varsity has developed over a half a billion dollars of commercial real estate including mixed-use, multifamily (traditional & student oriented), office, emergency housing, and retail. For more information, visit www.livevarsity.com.