Aria Development Group Acquires Prominent Corner Site in Washington, DC
Completes three-year assemblage with plans for mixed-use development
WASHINGTON, Oct. 10, 2018 /PRNewswire-PRWeb/ -- Aria Development Group has purchased the 25,000 square foot property located at the corner of Florida Avenue and North Capitol Street NE. The developer is planning a prominent mixed-use building for the site, which will include multifamily residential. This acquisition represents the culmination of three years of patient assemblage to connect tree-lined P Street NE with Florida Avenue and North Capitol Street.
"It's a tremendous location," said Aria Founding Partner Joshua Benaim. "It sits between the beloved neighborhoods of Bloomingdale and Shaw, Union Market with its new Trader Joe's, and the office and transportation hub of NoMa. We are excited to help weave back together the fabric of this neighborhood."
Aria is also nearing completion of The Clifton, a 156-unit multifamily building off the 14th Street Corridor. The Clifton represents Aria's vision for thoughtfully designed, urban infill apartments with character. The Clifton will begin leasing apartments in early 2019. Aria is the creative force behind such other distinctive residential projects as The Bond in DC's West End and the award-winning historic restoration of The Alden in Columbia Heights. Aria plans to bring the same sensibility and neighborhood vision to 1 Florida Avenue NE as it did to these other distinguished developments in the District. This acquisition represents Aria's eighth multifamily or mixed-use investment in Washington, DC.
About Aria Development Group
Aria Development Group is a real estate development and investment firm with holdings in Washington, DC, New York City, and Miami. Aria was founded in 2009 by partners Joshua Benaim, David Arditi, and Timothy Gordon. Since its founding, Aria has grown assets under management to $300 million. The firm marries a classic value investment strategy with the real estate principles of location, scarcity, and beauty.
Aria focuses on building and acquiring premier multifamily and mixed-use properties. Aria holdings and projects include 321 Ocean in Miami Beach and 465 Pacific Street in Brooklyn. In Washington, DC, Aria Development Group is behind such distinguished properties as The Bond, The Alden, The Remington, and The Clifton.
For more information, please visit: https://ariadevelopmentgroup.com/.
SOURCE Aria Development Group
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