Steve Clinton,
Chief Financial Officer
Developers have started construction on two new communities that will sit atop the 14th Street Hill in Washington, D.C. Crescent Communities’ NOVEL 14th Street, a 197-unit market-rate community, which is slated to start welcoming residents in early 2025, will be developed simultaneously with The Faircliff, a 125-unit affordable housing community from Somerset Development Co., Jonathan Rose Cos., and Housing Up.
NOVEL 14th Street and The Faircliff will replace the former Faircliff Plaza East community. The adjacent affordable housing community is adding 45 new units to the original 80 that were on site. Residents of the former Faircliff Plaza East voted unanimously in 2021 to move forward with the overall development, with over 80% deciding to return to live at The Faircliff once it’s completed.
The Faircliff will serve households with incomes at or below 50% of the area median income. Designed by Eric Colbert & Associates, it will be constructed to passive house standards and will feature a green roof, electric vehicle charging for 19 parking spaces, and carbon-injected concrete.
Floor plans at NOVEL 14th Street will include a mix of studio, one-, and two-bedroom units. The Fitwel and LEED Silver-targeted community also will be designed to reflect the area’s bold personality with globally inspired pieces and patterns throughout. Residents will have access to a Land of a Thousand Hills Coffee & Social, which invests in coffee farming villages; a rooftop pool and clubhouse; a ground-level zen courtyard; an expansive gym with a climbing wall and yoga room; multiple co-working spaces; and a library.
“NOVEL 14th Street will be a dynamic addition to one of Washington, D.C.’s most bustling corridors,” said Brandon Wright, managing director for the Mid-Atlantic for Crescent Communities. “Our goal is to provide a thoughtfully crated community that seamlessly weaves itself into the vibrant neighborhood fabric present today and adds sought-after amenities for both our future residents as well as our neighbors.”
The project team includes general contractor J. Moriarty & Associates, architect Hord Coplan Macht, interior designer Streetsense, landscape architect Lee and Associates, and civil engineer Vika Capitol.
NOVEL 14th Street marks Crescent Communities’ second investment in Washington, D.C. It recently sold its stake in NOVEL South Capitol, a community it developed in the Navy Yard District. The multifamily developer and operator also continues to expand its footprint in the Mid-Atlantic region, recently breaking ground on NOVEL Scott’s Addition in Richmond, Virginia.