Victoria Condominium to Open In DC’s 14th Street Corridor This Summer
- May 02, 2014
By Adrian Maties, Associate Editor
A new condominium building is getting ready to open in D.C.’s 14th Street Corridor. Drummond Development, a subsidiary of The UIP Cos., is putting the finishing touches on Victoria, its second condominium project on Chapin Street.
The Victoria, located at at 1443 Chapin, includes 12 one- and two-bedroom residences and four duplex penthouses. Amenities include maple hardwood flooring, LED lighting fixtures, washer/dryers, programmable thermostats and smoke detectors. The Victoria also includes nine underground parking spaces, surface parking and elevator service to all floors. Another important amenity is the new building’s location, close to the historic Meridian Hill Park and within walking distance of the restaurants, shops and nightlife along 14th and U streets.
“Victoria offers the ultimate convenient city living, with all the ‘bells and whistles,’ at a reasonable price, along with low condominium fees,” Drummond Principal Steve Schwat said in a statement for the press. He noted the direct elevator access from secure underground parking to the units, as well as floor-to-ceiling windows maximizing views in all directions, particularly in the penthouses, which feature 18-foot windows and abundant living space on two floors, including private outdoor terraces.
Urban Pace LLC will soon start pre-sales. Prices start in the $400,000s for one-bedroom residences and range up to the $600,000s for two-bedroom residences and $700,000s for the penthouses. According to Marcus & Millichap, the condo market in the Washington, D.C., area is tight, with the new condo inventory at its lowest level in the past 10 years. As most projects have fewer than 50 units, they are unable to meet the growing demand for housing. All of these factors might just help the Victoria in its quest to find new owners for its 16 residences.
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Photo credits: victoriacondosdc.com