Steuart/Paradigm Apartment Project

At Tuesday night’s MVSNA meeting Steuart Development provided an update to the community on the status of their properties within the Mount Vernon Triangle.

preliminary NY Ave elevation for Steuart/Paradigm apt project

The Square 483 property (K Street b/w 5th and 6th) will be on hold for the forseeable future as office tenant demand is lacking. However the encouraging news was that Steuart is in position to move forward soon with a matter of right development on lot 62 of Square N-515.

  • Partner with Paradigm to develop a 14 story 390 unit luxury apartment building
  • Financing close and project could begin as soon as September
  • Would take approximately two years to build and one year to lease out
  • Shape of ground floor plate similar to Meridian at Gallery Place (another Paradigm property) in that it features a semi-circle driveway with garage access (on L Street)
  • Building will have prominent pedestrian entrances on both L Street and New York Ave
  • Ground floor retail is not planned
  • Remainder of Steuart’s Square N-515 parcels, along 4th Street, would be developed at a later date.
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  1. 1

    Steven says

    I was at the meeting last night but had to leave before Steuart presented.

    I saw that Steuart had a board for 501 K, which I assume is the office building for square 483. Are there any images of that available? I know it’s farther off, but I was curious about what they’re thinking of building since I live in the K. Did they give any indication of how final that design was as well?

  2. 2

    FourthandEye says

    Re:501 K

    The rendering on the 501K board was for an office building intended for the Skadden & Arps law firm. Steuart lost out on that tenant to CityCenterDC so the project is dead for now. Although whenever it’s reinstituted it would likely take a very similar form to what was on the rendering.

  3. 4

    Steven says

    @FourthandEye — thanks for the info.

    @Si — awesome. I’ll take a look at the MVSNA blog later.

  4. 6

    Steven says

    Thanks Si (and Jeff)! I just saw the posting, and the notes were very informative. Will be curious if they come up with any feasible options for 501 K, but I can’t think of anything offhand that would work. I think they’re already too many hotels (either planned or built)… but maybe I’m wrong. But, perhaps I’m just not being creative enough in imagining other options!

  5. 7

    Shipsa01 says

    So to be clear, this is the property that sits across from the City V and the L and will be next to the crummy ‘warehouse’ building? And in the photo above, is that the view that will be on NY Avenue or on L Street?

  6. 8

    FourthandEye says

    @Shipsa01 – as the caption for image says, that’s the NY Ave elevation. The L Street side of the project will be shaped similar to Merdian at Gallery Place (450 Mass Ave NW) with a curved facade and semi-circle driveway.

  7. 9


    501K will be office with ground floor retail but they need to identify a major tenant before moving on the project. The one they were courting ended up signing with the city center project on the Old Convention Center site. Still good news as that project is close to our hood and will break ground soon.

  8. 10

    Shipsa01 says

    Thanks everyone. Do you know how much residential will be in 483 – or is it only going to be commercial? With all these new developments (and with how crummy the Safeway can be sometimes) they should get a Giant or Trader Joes to anchor 483.

    And a quick question off topic. The blue building between 4th and 5th on K; when will that be occupied and are they going to do anything with that surface parking lot?


  9. 12

    RobA says

    @Elliott … they are able to do so as a matter of right – and the higher heights are often required to make the building economically feasible. The buildings surrounding it on New York Avenue (Yale 1/2, new Bozzuto buildings) will all be (planned) of the same height.