Skanska Plans $128M Mixed-Use Highrise in DC’s NoMa
Skanska will finance, develop and manage the construction of the $128 million OZMA, a 13-story, mixed-use development at 44 M Street, NE in Washington, D.C.’s NoMa neighborhood.
The development will feature 275 residential units plus 7,900 square feet of retail space. The project will break ground in early November and is expected to be completed in 2024.
“D.C.’s NoMa neighborhood is a destination that is known for spurring some of the area’s newest and most interesting developments,” Mark Carroll, Skanska’s executive vice president for the firm’s Washington, D.C. market, told Commercial Observer. “We saw an opportunity to build sustainably minded residences that fit the needs of modern tenants who desire a home that is as sophisticated and inspiring as their surrounding community.”
Handel Architects will serve as the designer for the development, which will include amenities such as tranquility cabanas, a Japanese-inspired tearoom connected to an atrium, and an exclusive rooftop complete with a pool deck. There’s also a fitness studio that includes a sauna and personal yoga rooms.
“OZMA demonstrates that architecture and design can play a key role in creating greener, more livable urban environments while providing a nurturing residential experience,” Gary Handel, Handel Architects’ managing partner, said in a prepared statement.
Bozzuto will serve as leasing and management agent for OZMA, while Papadopoulos Properties will oversee leasing the retail component of the building.
“Even through the pandemic, we continue to witness the growth in the NoMa community and determined that there may be no better time to introduce OZMA as the area’s next mixed-use development,” he said. “Given the continuation of a desire for outdoor space, wellness and sustainability, it is more important than ever for our built environments to be designed to meet these new but lasting needs.”
In addition to wellness and outdoor-focused amenities, OZMA’s designed to meet LEED Gold, Fitwell, and WiredScore certifications—a first for residential in the area.
According to Carroll, Skanska’s portfolio is achieving great milestones in sustainability and OZMA will follow suit. For example, Skanska developed The District’s 2112 Pennsylvania Avenue, the first commercial office building to receive the WELL Health-Safety Rating; and 1776 Wilson Boulevard in Arlington., Northern Virginia’s first LEED v3 Platinum project.
Keith Loria can be reached at Kloria@commercialobserver.com.