Toll Brothers Apartment Living® Breaks Ground on Vermeer, a Luxury Multifamily Rental Community in Buzzard Point Overlooking Audi Field
Toll Brothers Apartment Living®, the rental subsidiary of Toll Brothers, Inc. (NYSE: TOL), the nation’s leading builder of luxury homes, and joint venture partner CrossHarbor Capital Partners, broke ground last week on Vermeer, a 13-story, 501-unit multifamily rental and mixed-use community in Washington, DC The project is being financed through a construction loan facility from Bank OZK.
The March 8 groundbreaking celebration was hosted adjacent to the construction site at the Cambria Hotel and was attended by senior executives from Toll Brothers Apartment Living, CrossHarbor Capital Partners, development partners, and local officials. Vermeer began site work in late 2022 and is anticipated to open in 2024.
“We are excited to add Vermeer to our growing portfolio of luxury rental communities in Washington, DC,” said Michael Skena, Mid-Atlantic Regional Director of Acquisitions and Development for Toll Brothers Apartment Living. “Toll Brothers has been building homes in this market for nearly thirty years. Now, with more than 3,000 rental units completed or under development in the area, Toll Brothers Apartment Living is extending the esteemed Toll Brothers luxury brand reputation even further into this dynamic market with Vermeer.”
Located at 113 Potomac Avenue SW, Vermeer is a 13-story building with 12 stories of residential atop ground-floor retail on an approximately 1.5-acre site. The property includes a 267-space below-grade parking garage with EV charging stations. Vermeer will also include approximately 37,000 square feet of ground-floor retail space for a diverse mix of neighborhood-serving and experiential-based retail.
Vermeer is situated in Washington’s redeveloping and bustling Buzzard Point neighborhood within the Capitol Riverfront Business Improvement District, a dynamic, amenity-rich urban neighborhood along the Anacostia River. Prominently placed at the gateway to Buzzard Point, Vermeer overlooks the Frederick Douglass Bridge to Anacostia. Vermeer is also immediately adjacent to Audi Field — home to both of Washington, DC’s professional men’s and women’s soccer teams, the D.C. United and the Washington Spirit — with a rooftop courtyard that provides residents unobstructed views directly into the stadium.
Vermeer is Toll Brothers Apartment Living’s fourth transit-oriented development within Washington, DC, located within easy walking distance of both the Navy Yard and Waterfront Metro Stations. Vermeer also marks the continued expansion of the Toll Brothers luxury brand into the Washington, DC market, joining Union Place, Banner Lane, and Parc Riverside, the firm’s 595-unit community also located in the Capitol Riverfront Business Improvement District. Vermeer will achieve LEED Silver certification. The property is also the fifth Opportunity Zone project developed by Toll Brothers Apartment Living in the U.S.
“We are thrilled to join Toll Brothers Apartment Living once again as we break ground on Vermeer,” said Allan Jones, Operating Partner at CrossHarbor Capital Partners. “We are also pleased to finance the project with Bank OZK, which has underwritten many developments across the region.”
Vermeer is amenity-rich with an elevated luxury offering among the residential rental communities in the rapidly redeveloping Buzzard Point neighborhood. Amenities on the penthouse level include a rooftop pool, fitness center with hydration bar, lounge area, and outdoor lounge and firepit. For residents to play and entertain, the penthouse also features a game room, a private dining room with bar, a great room, an outdoor grill area, and tiered seating overlooking Audi Field. Additional amenities include courtyard lounges, a pet spa, coworking spaces, conference rooms, and bike and tenant storage. A second amenity space on the second level connects two courtyards with varying vantage points.
Residence features include quartz countertops with tile backsplashes, designer custom cabinetry, stylish waterproof wood-inspired flooring, keyless Latch door locks, efficient LED lighting, as well as convenient movable kitchen islands, smart urban mudrooms, oversized closets with custom closet organizers, private balconies and terraces, and views of the Anacostia and Potomac Rivers and Audi Field in select residences. Floor plans range from 461 to 1,556 square feet, with a unit mix that includes studios, junior one-bedrooms, one-bedrooms with and without dens, junior two-bedrooms, two-bedroom units with and without dens, and three-bedroom units.
Designed by KTGY, Vermeer hints at the legacy of the Buzzard Point neighborhood with a design inspired by the materials of neighboring Audi Field, featuring a sleek and contemporary aesthetic complemented by accents of warm wood siding, with brick-and-glass panels decorating the three wings of the “W”-shaped building clad in brick masonry.
Vermeer offers a rarified collection of apartment residences that artfully combine a curated set of best-in-class amenities in the Capitol Riverfront neighborhood, where aspiring professionals, District sports fans, and visitors to the nation’s capital all convene. With sumptuous living spaces, welcoming hospitality offerings, and brilliant experiences to explore, Vermeer is a connected, expressive community at the forefront of southwest Washington’s emerging Buzzard Point neighborhood.
For more information about Vermeer visit LiveVermeer.com.