WASHINGTON, DC - Greystar Real Estate Partners (“Greystar”) is now leasing Illume in the Navy Yard neighborhood of Washington D.C. The 756-unit community consists of two towers with the first delivering in November 2021. Leasing is now available for the first tower with move-ins starting mid-November.
Illume offers 74 floor plan options, including studio, one, two and three-bedroom units ranging from 427 to 1,276 square feet. The first tower has 214 units with the remaining 542 units set to deliver in Q2 2022. Rental prices currently range from $1,880 to $4,505.
“Unlike other projects in this neighborhood, Illume was designed with green and open space in mind,” said John Beinert, director of development for Greystar. "In addition to providing incredible amenities, we're also excited to introduce a massive dog park, exclusively for Illume residents."
Illume units boast best-in-class finishes including modern kitchens with GE® Slate appliances, Delta© faucets and fixtures, quartz countertops, waterfall and moveable islands, gas cooking, roller shades for added temp control, Strata® keyless entry and large walk-in closets outfitted with ELFA© system.
The community features more than 20 amenities and gathering spaces across the two towers as well as a dog park. Tower one will include Verve, an 8,000-square-foot fitness center with a fitness studio, sauna, massage room, three lounges, an outdoor terrace, a business center and a bike room. Tower two will feature Luna’s pet spa, three lounges including a movie lounge, a beer garden, demo kitchen, an outdoor pool terrace and another bike room. The community also includes unobstructed views of the Capitol building, the new Frederick Douglass Memorial Bridge, Washington Monument, Downtown D.C. and the Anacostia River waterfront.
Illume is owned by Oxford Properties Group and institutional investors advised by J.P. Morgan Global Alternatives. The towers are being built by John Moriarty & Associates construction company with the goal of accentuating light in every space. R2L:Architects is spearheading the project’s architecture and interior design.
Named for its historical significance, Navy Yard was once the nation’s largest shipbuilding hub. Today, Navy Yard is well-known for being home to Nationals Park baseball stadium. The area also has an abundance of retail shops and restaurants such as District Winery and The Salt Line. With a healthy mix of businesses, lush parks and nightlife, Navy Yard is the perfect home for people seeking a balance of work and play.
ABOUT GREYSTAR: Greystar is a leading, fully integrated real estate company offering expertise in investment management, development, and management of rental housing properties globally. Headquartered in Charleston, South Carolina, Greystar manages and operates an estimated $220 billion of real estate in more than 210 markets globally including offices throughout the United States, United Kingdom, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, manages more than 748,000 units/beds, and has a robust institutional investment management platform with approximately $45.1 billion of assets under management, including over $21.3 billion of assets under development. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world-class service in the rental residential real estate business. To learn more, visit www.greystar.com
ABOUT J.P. MORGAN GLOBAL ALTERNATIVES: J.P. Morgan Global Alternatives is the alternative investment arm of J.P. Morgan Asset Management. With more than 50 years as an alternatives investment manager, $191 billion in assets under management and more than 600 professionals (as of June 30, 2021), we offer strategies across the alternative investment spectrum including real estate, private equity, private credit, hedge funds, infrastructure, transportation and liquid alternatives. Operating from offices throughout the Americas, Europe and Asia Pacific, our independent alternative investment engines combine specialist knowledge and singular focus with the global reach, vast resources and powerful infrastructure of J.P. Morgan to help meet each client’s specific objectives. For more information: jpmorgan.com/am
ABOUT OXFORD PROPERTIES GROUP: Oxford Properties Group (“Oxford”) is a leading global real estate investor, asset manager and business builder. It builds, buys and grows defined real estate operating business with world-class management teams. Established in 1960, Oxford and its portfolio companies manage approximately C$70 billion of assets across four continents on behalf of their investment partners. Oxford’s owned portfolio encompasses office, logistics, retail, multifamily residential, life sciences and hotels; it spans more than 150 million square feet in global gateway cities and high-growth hubs. A thematic investor with a committed source of capital, Oxford invests in properties, portfolios, development sites, debt, securities and real estate businesses across the risk-reward spectrum. Together with its portfolio companies, Oxford is one of the world’s most active developers with over 100 projects currently underway globally across all major asset classes. Oxford is owned by OMERS, the Canadian defined benefit pension plan for Ontario’s municipal employees. For more information on Oxford, visit www.oxfordproperties.com