New 75-unit Building in Capitol Riverfront Targets Niche Market
Murillo Malnati Group (MMG) acquired 816-820 Potomac Ave SE to build an apartment/retail building in 3 phases. The first phase breaks ground in March of this year, with all phases expected to be completed by 2020.
The Capitol Riverfront is experiencing quite the rise in development, with over 1,800 units to be delivered in the coming years. MMG plans to stand out from the amenity heavy buildings that are going up nearby. They plan to offer the units at a slight discount to target a niche market that the luxury market overlooks.
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Image courtesy of https://www.bisnow.com/washington-dc/news/multifamily/murillo-malnati-plans-75-unit-capitol-riverfront-development-70270