Rockpoint, LCOR and Potomac Investment Properties have formed a joint venture for the redevelopment of 1000 and 1050 Thomas Jefferson St. NW. The two former office buildings in Washington, D.C.’s Georgetown submarket are set to undergo a conversion into 299 apartments.
According to the joint venture, the project will be the first multifamily development to deliver more than 150 units to Georgetown in more than a century.
PIP developed the two properties in 1980 and 1981, and has owned them ever since. They total roughly 349,000 square feet. The company secured approvals for the conversion from the Old Georgetown Board and the U.S. Commission of Fine Arts…