Felice Development Group Acquires 2.9 Acres & Moves Forward With 900-Unit, Mixed-Use Project on Capital Riverfront With Finan...
16 June 2021 - 8:00PM
Felice Development Group (FDG) and Fields-Grade Development
partnered to acquire 2.9 acres of land on the Anacostia Riverfront
after securing PUD approval. FDG plans to develop a large-scale,
mixed-use project with 900 multifamily units, outdoor/rooftop
amenities, 45,000 square feet of retail, and green space. The 1333
M Street development, along with the https://bbardc.org/the-park/,
will create another dynamic destination in the Capitol Riverfront.
EagleBank provided acquisition financing to fund a significant
portion of the project’s purchase price. The transaction was
facilitated by senior vice president and relationship manager Tim
Annett who works as part of EagleBank’s experienced commercial real
estate team. “The continued development in this area has led to the
emergence of Capitol Riverfront as one of the most prosperous and
desirable neighborhoods in Washington D.C. 1333 M Street promises
to be a unique and exciting new development and we are thrilled to
work with FDG on this project,” said EagleBank EVP, Chief Real
Estate Lending Officer Ryan Riel. “EagleBank is proud to be part of
this development which furthers our commitment to the continued
growth and evolution of our community.”“We’re excited to work with
EagleBank to develop one of few remaining riverfront parcels in DC
and bring this undeveloped riverfront area into the fabric of DC’s
diverse and vibrant neighborhoods,” said FDG President Rick Felice.
“Once completed, this will bring a riverfront experience to the
Capitol Hill neighborhood to the north, Anacostia neighborhood to
the south, and further expand the Navy Yard neighborhood.”
1333 M St SE is located along the Anacostia riverfront with
panoramic water and city views from all floors and access to the
bike paths and the Riverwalk. GTM Architects designed the project
to include three towers over a shared below-grade garage. The “East
Tower” will contain 496 units, “West Tower” another 307 units, and
the third tower 97 units. Construction is scheduled to begin Q4
2022.
Felice Development Group LLC (FDG) is leading the project in
partnership with Fields-Grade Development. FDG is a real estate
development company that provides expertise in land
acquisition, entitlements, financing, and design development, as
well as construction management of residential and mixed-use
projects.
Eagle Bancorp, Inc. is the holding company for EagleBank, which
commenced operations in 1998. EagleBank is headquartered in
Bethesda, Maryland, and conducts full service commercial banking
through 19 offices, located in Suburban, Maryland, Washington,
D.C. and Northern Virginia. EagleBank focuses on building
relationships with businesses, professionals and individuals in its
marketplace.
FDG
Media Contact: Diane Felice Marketing Director
703-403-7910 diane@felicedevelopmentgroup.com |
EagleBank Media Contact:Vikki KayneChief Marketing
Officer301-986-1800 vkayne@eaglebankcorp.com |
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