Clark Realty Capital Breaks Ground in Thriving Atlas District Community
WASHINGTON — Clark Realty Capital hosted a groundbreaking ceremony and luncheon reception today formally marking the commencement of The Flats at Atlas District, a two-year development effort that will bring 257 high-end apartments and 5,000 square feet of retail to the dynamic Atlas District community. The Flats will be the first luxury residential development in the Eastern H Street corridor and one of a select few construction projects financed through the U.S. Department of Housing and Urban Development (HUD)'s 221(d) program this year.
Flats at Atlas
"Housing is a key component of economic development, and we are pleased to be involved in this exciting project that will offer rental housing opportunities, first-class amenities, and retail for those who want to call this thriving neighborhood home," said Mary Ann Henderson, director of HUD - Baltimore Multifamily Hub. "We have every confidence that The Flats at Atlas District will be a great addition to the community."
Located at 1600 Maryland Avenue NE, the Flats at Atlas District is the latest evolution in the growth of a trendy entertainment district growing in local popularity. Located adjacent to the H Street Corridor in northeast DC, the Flats is a short walk from the many restaurants, shops, and bars on H Street, as well as the Atlas Performing Arts Center and the H Street Playhouse. Under construction by Clark Builders Group, the building will feature studio, one-bedroom plus den, two-bedroom, and two-bedroom plus den apartment homes. A variety of apartment finishes, from laminate to granite countertops and basic to stainless steel appliances, will offer a range of pricing for residents. The development plan also includes a 300-space parking garage and a number of amenities such as a fitness center, pool, great room with kitchen, an indoor half basketball court, an outdoor lounge with fireplace, and a meditation courtyard. Clark anticipates welcoming the first residents in the spring of 2012.
"We are thrilled to have finally broken ground on The Flats and become part of the exciting Atlas District community," said Tracey Thomm, development executive at Clark Realty Capital. "Without the involvement of HUD, none of this would have been possible. The Flats represents an important investment in the local community, and we couldn't be happier to see the project come to life."
At the luncheon reception, held in the atrium of the historic Atlas Performing Arts Center, community members joined Clark and HUD officials in sampling catering fare from Atlas District restaurants. Remarks were made by Henderson, Thomm, Ward 5 Councilmember Harry "Tommy" Thomas Jr., and Anwar Saleem, executive director of the H Street Merchants Association.
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About Clark Realty Capital
A fully integrated, national real estate firm based in Arlington, Va., Clark Realty Capital offers a broad base of services including capital markets, finance, development, construction, property management, and investment management. Clark's development expertise spans award-winning residential, office, retail, and mixed-use projects with a total development value of over $6.5 billion. Clark Realty Capital is an affiliate of the Clark Construction Group, the nation's oldest and largest privately-held general building contractor in the nation. For more information, visit www.clarkrealtycapital.com.
About Clark Builders Group
As the fourth largest multifamily builder in the nation, Clark Builders Group (CBG) is one of the nation's premier builders of luxury apartments, military family housing, and mixed-use communities. CBG has constructed more than 50,000 homes since its founding in 1992 and boasts an extensive portfolio of nationally acclaimed, award-winning communities on both coasts. CBG is an affiliate of the Clark Construction Group, one of the nation's oldest and largest private general contractors. For more information, visit www.clarkbuildersgroup.com.
About U.S. Department of Housing and Urban Development
HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD is working to strengthen the housing market to bolster the economy and protect consumers, meet the need for quality affordable rental homes, utilize housing as a platform for improving quality of life, build inclusive and sustainable communities free from discrimination, and transform the way HUD does business.