Jair Lynch Commences Renovation of Historic 16th Street, NW Building
Former Meridian Hill Hotel to become 206 unit, class A apartment
WASHINGTON, D.C., (April 21, 2017) – Jair Lynch Real Estate Partners (“Jair Lynch”) launches the renovation of the historic Meridian Hill Hotel and former Howard University dormitory at 2601 16th Street, NW. As part of its ongoing acquisition strategy in walkable neighborhoods, Jair Lynch as sponsor, acquired the rights to develop the property from Howard University in the fall of 2015 and is scheduled to deliver the project in the fall of 2018. JP Morgan provided the historic tax credit equity on the future 206-unit, class A apartment building, and Eagle Bank financed the acquisition and construction loans. The building overlooks Meridian Hill Park and will draw inspiration from the building’s historic elements, while taking advantage of the building’s former lobby, spacious common areas and amenity spaces from its hotel design. The completed building will feature majestic views of the entire city from the upper floors and new rooftop deck and lounge.
Residents will enjoy unmatched building amenities, including the rooftop deck, lounge and game room; a multi-level fitness center and yoga studio; indoor pool, outdoor courtyard with bocce court; cocktail lounge and demonstration kitchen; and work pods allowing residents the opportunity to easily work from home. The BKV Group designed these spaces with rich, textural materials, and period specific lighting, coupled with modern touches to update the existing historic elements with a new design. The unit interiors continue this theme providing new modern finishes and sleek designs, while replicating the existing historic wood flooring and casement style windows, which are typical of the buildings International Style.
The 1942 building was designed by Louis E. Justement, an influential DC architect most known for his design of the Longworth House Office Building, illustrates the International Style evidencing the emerging Modernism architecture of the Meridian Hill Historic District’s apartment buildings built in the mid‐20th century. The building is recognized as a contributing structure of the Meridian Hill Historic District.
Jair Lynch is investing in the project through a joint venture with MacFarlane Partners. Grunley Construction is leading the restoration and construction efforts. Jair Lynch, as sponsor, acquired the rights to develop the property from Howard University in the fall of 2015 and is scheduled to deliver the project in the fall of 2018.
About Jair Lynch Real Estate Partners
Jair Lynch Real Estate Partners specializes in the responsible transformation of walkable urban places. We do this by combining social responsibility with sound economic development in pursuit of creating sustainable, extraordinary neighborhoods that connect to the soul of a place. Founded in 1998, we have developed almost 4.3 million square feet of real estate projects valued at over $1 billion and have over 1.2 million square feet of development in progress valued at more than $600 million. Visit www.jairlynch.com to learn more about the company.