CAPITOL HILL: Federal Capital Partners and Insight Property Group Complete $21M Acquisition of Buchanan School on Capitol Hill SE; Sell Condo Parcel to Ditto Residential

Federal Capital Partners® (FCP) and Insight Property Group (Insight) announce the $21 million acquisition of the Buchanan School property at 1325 D Street, SE in the Capitol Hill sub-market of Washington, DC. The property will be re-developed in three phases that will include as many as 41 row houses and 41 condominiums. The venture partners, upon their acquisition of the property, sold the condominium parcel to Ditto Residential (Ditto), a local developer with a reputation for designing architecturally significant residential spaces. Throughout 2015, FCP and Insight held a series of community meetings to refine the plans for the property and to complete the entitlement process, receiving Board of Zoning Adjustment (BZA) approval in July of 2015.
This new residential community will be called Buchanan Park. Ditto plans to begin the re-development of the condominium units that will be located in the former Buchanan School building in 2016. Also in 2016, FCP and Insight plan to move forward with construction on the initial phase of the three and four bedroom row houses.

FCP Associate, Stephen Stover, commented, “FCP is very pleased to be moving forward with Insight Property Group on Buchanan Park and welcomes Ditto Residential to the team that will fulfill the vision for this important redevelopment. We are thrilled with the quality and integrity of the plans for this development and extend our appreciation to the local community as well as to the DC government and its agencies for the constructive feedback and collaboration on this project.”

Insight Property Group Partner, Sarah Davidson, said, “Insight and FCP are committed to a best-in-class redevelopment of a unique piece of land on Capitol Hill. Our vision for this new residential community is to create a wonderful place that compliments the enduring nature of the buildings and the neighborhood that surrounds it. Combining old and new, the design of the public spaces throughout Buchanan Park enhances strong connections to the immediate community. We look forward to combining our vision and talents with Ditto Residential to make Buchanan Park an exceptional place to live on Capitol Hill.”

“The opportunity to bring together three top development firms to create a truly significant residential community was too good to pass up,” said Martin Ditto, President of Ditto Residential. “Historic renovations are popular and being in a converted school building is even better. We look forward to delivering the finest condominium homes on Capitol Hill.”