NOMA: MRP Realty and Kruger Real Estate Acquire 315 H Street NE for Multifamily Development

MRP Realty, developers of commercial, residential and mixed-use real estate across the Mid-Atlantic region, and Kruger Real Estate, a diversified private investment firm, announced today that they have acquired three parcels at 315 H Street, NE in the H Street corridor for mixed-use development.

MRP and Kruger will develop a 93,992-square-foot, 112-unit residential apartment building with 6,000 square feet of ground floor retail set to deliver in the spring of 2018. The project’s location at 3rd and H Street NE represents one of the final, large scale development opportunities on the H Street corridor.

“The site’s proximity to Union Station, Union Market, NoMa and the destination retail developing on H Street NE, a historically significant corridor in Washington, make this an exciting long term investment for the Kruger and MRP venture,” said Ryan Crane of Kruger.

“H Street is one of the most historic streets in Washington and over the course of the past decade our government and business leaders have returned it to its roots as an energized commercial and creative hub in the midst of an authentic urban neighborhood,” said John Begert, principal of MRP Realty. “We are thrilled to partner with Kruger on this long term investment.”

315 H Street NE benefits from its proximity to Union Station and Metro, and includes front door access to an H Street streetcar stop. Additionally, a resurgent visual and performing arts scene, bars, music venues, an array of independent retailers, as well as high end residences have reshaped the historic corridor.