615 H Street
Update
05/10/24
Monument Realty Requests Permit Extension for Chinatown Project
Monument Realty has filed an application for a permit extension through August 2, 2026, for the approved project at 615 H Street NW in Chinatown. The development is set to feature 72 units with roughly 7,000 sq. ft. of retail space. In the filing, the developer states "Financing for the project has been difficult due to the volatility in the capital markets, rising interest rates, increased construction costs, persistent construction labor shortages, concerns over a possible recession, and the proposed, but rescinded, departure of the Capitals and Wizards from the neighborhood’s Capital One Arena." According to the application Monument Realty is currently negotiating term sheets with several potential capital sources and anticipates closing on the construction loan within the next four to six months.
