A joint venture between Cedar Realty Trust (NYSE: CDR), Asland Capital Partners and the Goldman Sachs Urban Investment Group has broken ground on the first phase of Northeast Heights. The $600 million mixed-use office and retail development is located in the Minnesota and Benning submarket of Washington D.C.’s Ward 7 neighborhood. The property is located at 3924 Minnesota Ave. Construction has a completion date of late 2022 or early 2023.
The first phase of Northeast Heights includes the construction of a 258,500-square-foot office building, as well as 18,000 square feet of street-level retail. The office space is 100 percent leased to the Washington, D.C., Department of General Services for its headquarters.
Joint Venture Breaks Ground on $600 Million Northeast Heights Redevelopment in Washington, D.C.
May 21, 2021
Shopping Center Business // Julia Sanders