The Residences at CityCenter Reaches Significant Sales Milestone

Hines and the TFI US Real Estate Fund, sponsors of CityCenterDC, announced today that The Residences at CityCenter have reached a significant sales milestone, with over 51 percent of the homes at 925 H Street, NW under contract since pre-sales of the luxury condominium residences commenced in late fall 2012 and the Sales Gallery officially opened on January 2^nd.

CityCenterDC is a 10-acre parcel in the heart of downtown D.C. that is currently being transformed into a vibrant blend of residences, offices, shopping, restaurants, hotel and active parks.

"We are delighted to announce that The Residences at CityCenter have reached a monumental benchmark," said William B. Alsup, III , senior managing director at Hines. "This achievement is a testament to the superior quality and attention to detail of not only the residences, but also the design and delivery of the entire CityCenterDC development, which will serve as the signature destination for business, culture and community."

"The tremendous interest in The Residences at CityCenter further validates our vision of inspiring a lifestyle that can only be found in CityCenterDC," continued Alsup. "With our luxury condominiums, we have created a unique opportunity in the D.C. marketplace for those looking to live in an amenity-rich, exquisitely designed home with a true 24-hour lifestyle."

According to The Mayhood Company, exclusive marketing agent for CityCenterDC, there has been a tremendous amount of interest in the homes since the project was first announced, which precipitated the launch of an interactive sales gallery – at 901 New York Avenue, NW – with an impressive scale model of the entire development, a fully built-out model home and a striking view of the new neighborhood under construction that is quickly taking shape.

The Mayhood Company is currently accepting appointments for those interested in purchasing a condominium. Prices for the homes range from $500,000 to $3.5 million, and there are also a variety of options for combining multiple residences. Construction on the signature residences is well underway with an anticipated delivery in fall 2013.

Designed by London-based, globally recognized architecture firm Foster + Partners, the 216 condominiums provide homes with open layouts where natural light and outdoor spaces combine seamlessly to create a unique residential experience. The one- and two-bedroom residences have access to balconies and outdoor spaces of up to 900 square feet, and feature signature hallmarks of Foster + Partners' design, including light-filled modern interiors and natural-colored materials. Residences are crafted with high-quality, custom details and environmentally responsible materials that offer thoughtful living in a modern environment.

Open living rooms feature floor-to-ceiling windows that draw on different exposures to maximize natural light, while Foster + Partners' signature solar shades on the building facade provide light control. Northern European white oak flooring further enhances the open, natural feel of the space. All of the homes provide the ability for residents to extend their living quarters through outdoor spaces.

Amenities at the premier residences include a concierge; front desk coverage 24-hours per day; fitness center; yoga studio; bar lounge; two expansive roof parks, as well as a tranquil rooftop water feature; outdoor kitchens and dining room; fire pit; wine storage; indoor dining room; catering kitchen; executive board room; guest suite; landscaped terrace; and a spa treatment room. The residences will also provide their own exclusive property management team, which will coordinate with personnel servicing other aspects of the development.

"Located in the heart of D.C.'s historical and cultural epicenter, CityCenterDC's unique mix of office space, residences, hotel, retail and lifestyle offerings make it a preeminent urban destination," said Alsup. "We look forward to inspiring a vibrant community that redefines the D.C. Metro area."