The company occupies about 7,800 square feet at 1200 New Hampshire Ave. NW and needs to increase its footprint by another 25% — or 2,700 square feet — to accommodate its growing headcount, CEO Jeff Marowits said in a recent interview.
Keystone has about 30 employees in D.C. and Marowits said that with the number expected to swell to 75 within two years, it’s going to need even more space in the near future.
Marowits, who is based in New York, said a big reason Keystone opted to open an office in D.C. is because it’s where industry and government are coming together to make big decisions about emerging technologies, particularly artificial intelligence.
One of the region’s largest office-to-residential redevelopment projects is a go, with a new majority partner on board and a $175 million construction loan locked down.
The $250 million redevelopment, to be rebranded as 1999 Eye St. NW, will include 340 market-rate apartments, 50 student housing units totaling 200 beds and 44 affordable units, plus 15,600 square feet of retail and 189 parking spaces across 14 stories and 412,000 square feet, according to the development team.
The project “reflects our commitment to delivering high-quality, thoughtfully designed housing in one of Washington, D.C.’s most established neighborhoods,” Kent Marquis, Stonebridge principal, said in a statement.
That flight was the first of 12 contracted suborbital flights Besxar has with Space Exploration Technologies Corp. — SpaceX for short — to show the feasibility of producing semiconductor materials in the vacuum of space.
That growth, coupled with its 18-month flight testing, is forcing Besxar to evaluate new real estate as it outgrows its 12,000-square-foot manufacturing space within the Boilermaker Building at 300 Tingey St. SE in Navy Yard.
She previously told me she relocated the startup from Los Angeles to D.C. for the highly educated and experienced talent here, especially engineers from aerospace and defense companies.
Carr Properties has secured a $92 million construction loan for its 299-unit Foggy Bottom apartment project in yet another sign that the District’s Housing in Downtown incentive program may be working to help jump-start development.
D.C.-based Carr just closed on the five-year loan and plans to go vertical with the development at 2121 Virginia Ave. NW later this month.
The closing “reflects the strength of the project, the location, and the fundamentals supporting residential demand in the Foggy Bottom neighborhood,” Eric Tracy, Carr Properties CFO and executive vice president, said in a statement.
O’Melveny & Myers has signed a 15-year renewal for roughly 100,000 square feet at 1625 Eye Street NW in Washington, D.C., as the building’s new ownership group sets up a substantial renovation.
“We have known this asset for many years and have always believed in the quality of the building, its irreplaceable location and its long-term potential,” John Wolf, FarmView founder and managing partner, said in a statement.
Renovations will include a redesigned lobby, upgraded security, and retail from LDV Hospitality, including American Cut Steakhouse and an Italian café. Plans also call for a rooftop with indoor and outdoor gathering areas, a conference and event facility, and an expanded tenant fitness center.
D.C. and the Washington Commanders have unveiled potential designs for two parking garages totaling 6,000 spaces that will support the team’s $3.8 billion stadium and broader development at the 174-acre RFK Campus.
“The garages, in their final configuration, are purposefully integrated into the mixed-use fabric of the overall RFK Campus development plan, positioning them not simply as parking facilities, but as important components of the Campus and its long-term transformation,” according to the NCPC presentation.
Located southeast of the stadium near the banks of the Anacostia River, the Riverfront District is being targeted by D.C. for 3,100 homes, 500 hotel rooms and 92,000 square feet of retail and office use.