The developer planning a 27-story apartment tower in the Health District has completed the purchase of the property, according to a press release.
Congress Group, in partnership with Peakhill Equity TS, Inc. paid $16 million for the site.
There will be 380 multifamily units, the release said.
Construction is planned to begin in the first quarter of 2024, with completion in 2027, the developer told The Real Deal.
In December, plans were submitted to the UDRB for the residential tower. Previously, plans had been submitted for an office tower, which was cancelled.
The UDRB filing showed the project will include an 8 level garage with 590 spaces.
The Civic Center Metrorail station is a five minute walk from the property.
The previously approved 2021 design: