The Mission 14th Street

The Mission 14th Street

14th Street Mission Going Luxe Rental

“Highly likely” is how DC developer Jeffrey Schonberger, principal of Alturas Real Estate Interests and owner of The Mission, put it when asked if the project was going rental.

That’s disappointing to buyers who waited, a boon to those who want to lease high-end units in the center of what is arguably the most desirable street in DC today.

Schonberger says the decision was made with “long term investment” in mind and it’s hard to disagree that the property won’t gain value at an exceptional rate over the long term.  Though the rental market in DC is considered over-saturated by some, exceptional properties will still fill up and, irony aside, that’s what Schonberger says he’s creating at what used to be a shelter for the poor and homeless at 14th an R Streets NW.  Alturas is reportedly not sparing expense on the project, endeavoring to deliver quality units in an intimate, boutique setting.

Construction is well underway, though no signage or advertising designating the property as apartments has yet appeared.

The Mission is a 51-unit multifamily development with over 7K SF of retail attached, seated on the southeast corner of 14th and R Streets NW DC. It incorporates three existing historic structures with a new 7-story section. When the property was purchased in June of 2013, it was designed with flexibility for condo or rental use. Anticipated grand opening is mid-to-late 2014.

Read more about The Mission on 14th

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