Greystar and Ivanhoé Cambridge break ground on 801 New Jersey Avenue, a new mixed-use development in Washington, D.C.

Greystar and Ivanhoé Cambridge announced today the beginning of the construction of 801 New Jersey Avenue, a new mixed-use development in Washington, D.C. The announcement was made during a groundbreaking ceremony for the new complex which will feature 227 apartment homes and 5,774 ft² (535 m²) of retail space available for lease.

“We are thrilled to announce the start of construction on 801 New Jersey Avenue,” said Brandon Henry, Managing Director of Development for Greystar. “This green community will offer floor-to-ceiling windows and high-end finishes and amenities that will appeal to eco-friendly residents looking for a sophisticated urban lifestyle.”

801 New Jersey Avenue will offer a variety of studios, one- and two-bedroom floor plans ranging in size from 537 to 1,357 ft² (50 to 125 m²). The ultra-modern interior finishes will include quartz countertops, custom cabinetry and plank flooring. Floor plans will incorporate features such as nine-foot ceilings, walk-in closets, full-size washers and dryers and balconies in most units.

Community amenities will include a clubhouse with gathering and meeting spaces, fitness center and executive work stations. In addition, residents will be able to enjoy a tree-lined rooftop terrace with a swimming pool, sundeck, indoor/outdoor bar area for all-weather entertaining, grilling stations and fire pit.  Bike storage, a pet spa, 24-hour concierge and coffee station and underground parking are among some of the other amenities at this LEED^® Silver, smoke-free community. The mixed-use development will include street level space for boutiques and restaurants.

“Residents will enjoy spectacular views of the U.S. Capitol and a great access to transit with the Navy Yard and Capitol South Metro Stations nearby,” said Ezio Sicurella, Senior Vice President, Investments, Residential, Hotels and Real Estate Investment Funds for Ivanhoé Cambridge. “The new community will offer a live-work-play lifestyle in a highly walkable neighborhood close to the Nationals Park, restaurants, parks and the announced Whole Foods directly across the street, he added.”

Construction on 801 New Jersey Avenue is expected to be completed in summer 2016.

About Ivanhoé Cambridge

Ivanhoé Cambridge leverages its broad expertise, investing in, operating and developing real estate properties and companies to deliver optimal returns for its investors. Through multiple subsidiaries and partnerships, Ivanhoé Cambridge Inc. holds assets located mainly in Canada, the United States, Europe, Brazil, Mexico and Asia, which totalled more than Cdn$42 billion as at December 31, 2014. Ivanhoé Cambridge Inc. is a real estate subsidiary of the Caisse de dépôt et placement du Québec (cdpq.com), one of Canada's leading institutional fund managers. For further information: ivanhoecambridge.com.

About Greystar

Greystar Real Estate Partners is a fully integrated multifamily company offering expertise in property management, development and investment throughout the United States and abroad. Headquartered in Charleston, SC., Greystar is the largest operator of apartments in the United States and manages approximately 385,000 units in 100+ markets with over 10,000 team members. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world-class services in the multifamily real estate business. Greystar’s innovative business model integrates the management, development and investment disciplines of the multifamily industry. To learn more about Greystar, visit www.Greystar.com.