Allegro
Overview
Allegro is a 297 unit condominium conversion in the Columbia Heights area of DC. Kettler was brought in by Metro Properties, Inc (the Developer) to implement a successful lease-up and punch-out construction plan when the The Allegro converted from condominium to apartment in late 2008.
In collaboration with the Owner, Kettler developed a successful business plan that determined rents, competitive analysis, unit models, marketing materials and a marketing campaign which together produced an excellent lease-up pace of 20 units per month, during a challenging financial and economic period. Leasing began in spring of 2009 and has so far exceeded monthly budget and absorption schedule.
Bought by Federal Capital Partners in November 2009, Kettler was able to assist in the seamless transition of the property to its new ownership from a lease-up and customer perspective. Kettler maintained management and is the final stages of Lease up.
In addition to the residential component, Kettler manages 6,100 square feet of ground floor retail space at the project which is anchored by Thai Tanic II restaurant.
Location
3460 14th Street, NW
Washington, DC 20010
Total Units
297 residential units
Land Uses
Multifamily Apartment Building
Kettler's Role
Property Management
Owner
FCP
Developer
Metro Properties
General Contractor
Clark Construction
Architect
Eric Colbert and Partners