Courtesy of Network Realty Partners
Hotel proposed for Union Square development
Network Realty Partners is preparing to inaugurate a hotel project on North Capitol Street next year in what will be the company’s first development.
The three-year-old real estate company announced this week that it plans to open a 106-unit “apartment-style” hotel in mid-2022, in partnership with USAA Real Estate. The announcement comes after last month’s zoning commission approved the developer’s request for a new 100,000 square foot hotel building on the Union Square office building site.
The hotel should be built in the central courtyard between the two office buildings at 899 and 999 North Capitol St. NE. NRP bought the property in 2019, its first major acquisition after being founded the previous year.
The developer said he has yet to identify an operator for the hotel. The new hotel will also include a full-service restaurant, Network Realty said.
“When we acquired Union Square in 2019, we saw an opportunity to transform an 8-hour idle environment into a dynamic, pedestrian-friendly environment,” NRP Director Sam Hollman said in a statement. “This approval is a great victory for Union Square and the greater NoMa district. ”
The project will be at least the third new hotel to progress in the Union Station area in recent years.
High Street Residential, a subsidiary of Trammell Crow, reached an agreement in July with Hilton Worldwide to operate a hotel in the developer’s Armature Works project, which began in October 2019. Office Properties Income Trust began construction this summer on a new mixed-use project at 20 Massachusetts. Ave. NW which should accommodate a Royal Sonesta hotel with 271 rooms.
Union Station has long been awaiting a major expansion and the $ 1.2 trillion federal infrastructure bill was enacted this week could help propel this project is moving forward and will eventually bring more visitors through what is already one of the busiest transit hubs in the DC area.
In addition to its new hotel, NRP also plans to begin modernization work on the two office buildings in Union Square. The renovations will include a private entrance for government employees at 899 North Capitol St., where a local U.S. Citizenship and Immigration Services office recently renewed its 55K SF lease for another 15 years.
The developer also plans to build 5,000 square feet of retail space for a potential food hall or market at 999 North Capitol St. and make behind-the-scenes improvements for both office buildings.
NRP was founded in 2018 by Rod Lawrence, a former partner of The JBG Cos., And former director of Avision Young, Bill Morris. JBG Smith Executive Vice President Greg Trimmer also moved to NRP last year, and the company has since focused on its goal of acquiring and developing mixed-use projects in the central region. of the Atlantic.