1717 Rhode Island
Photos: Sonny Odom Photography
Karchem's Role: Equity Partner, Developer, Construction Manager and Property Manager
For: MEPT St. Matthews LLC
Size: 157,000 RSF, 10 stories
Year Built: 1877-1886 historic town houses
Year Built: 2004
Budget: $51 million exclusive of land
Leasing: 100% leased
Washington Business Journal Best Estate Deals of 2004 - Best Rehab
Ranked Number 49 - Washington Business Journal The List - 2004 Office Leases Heller Erhman LLP
Greater Washington Commercial Association of Realtors 2002 Annual Commercial Award Land Sales Transaction of the Year
In 2000, the Archdiocese of Washington, DC issued a Request for Proposal to selected developers for the right to develop a class A, 157,000 RSF office building adjacent to the historic St. Matthew's Cathedral. The Archdiocese awarded the development of St. Matthew's Court to Karchem Properties. Having just delivered the Gallup Building at 901 F Street, NW, our expertise in integrating historic structures with new construction was a critical factor in their decision.
1717 Rhode Island Avenue is a free-standing class A office building with an excellent window line on all four sides. The design of the newly constructed tower incorporates four historic town houses.
Located in the heart of the Central Business District, 1717 Rhode Island Avenue has excellent access from Connecticut Avenue, M Street, and Massachusetts Avenue. It is a short walk to the Farragut North, Farragut West and Dupont Circle Metro Stations.
Upon award of the project, Karchem Properties began negotiating with the Archdiocese to execute a 99-year ground lease for the site. Simultaneously, Karchem Properties assembled a project team. We gathered information about the physical conditions and history of the town houses and became further acquainted with the approved design and Planned Unit Development requirements.
The site is located in the Dupont Circle Historic District. Based on a PUD approved in 1986, a preservation zone was established and the historic town houses were rehabilitated.
1717 Rhode Island Avenue was built in 1877. The architects, Hornblower and Marshall, also designed the Army & Navy Club and the Smithsonian Natural History Museum. Its architecture is distinguished by the use of formed, red Roman-style brick.