Washington, DC (Hagerstown, MD), United States – March 26, 2024 —
Ben Ashkenazy of Ashkenazy Acquisition Corporation is undertaking a pre-Covid residential redevelopment initiative at the Hechinger Mall in Washington D. C. to turn it into a 2. 4 million-square-foot residential haven. The 8. 5-acre, 370,260-square-foot assets are located at 1518 Benning Rd. NE, in the bustling neighborhood of Capitol Hill. This project, 2. 5 km from the capital, aims to redefine urban life in the district.
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The Hechinger Mall, located in the H Street submarket, is famous for its trendy boutiques, several restaurants, and colorful nightlife. The H Street corridor, the crown jewel of the Capital Region’s streetscape, has 700,000 square feet of advertising space. More More than just a shopping paradise, it offers a gastronomic spectacle with more than 50 restaurants within walking distance, catering to all palates and preferences.
Accessibility and connectivity are at the heart of Hechinger Mall’s appeal, with Union Station just 2. 5km from H Street. This strategic location not only facilitates access to one of the country’s major transportation hubs, but also brings citizens closer to the city’s myriad attractions and services. .
Reflecting the region’s prosperity, the neighborhood boasts an average income source of more than $140,000, which is indicative of the primary demographic revenue source the task aims to attract. The site’s zoning is classified as MU-7, offering maximum progression flexibility for mixed-use, adving, advertising and residential allocations. This zoning classification underscores the city’s vision of vibrant, mixed-use communities that combine living, shopping, and recreation into a cohesive urban fabric.
The proposed redevelopment plan envisions the creation of 2. 4 million square feet of residential units, transforming the mall into a residential hub that meets the demand for developing housing in the area. The mall, an integral component of the redevelopment, has a number of tenants in addition to Safeway, Ross Dress For Less, Dollar Tree, AutoZone, Chase, H
In addition, proximity to high-end advertising tenants within a 2. 4-mile radius, adding technology, media, law firms, health care and government agencies, positions the Hechinger Mall redevelopment as a highly sought-after location for top professionals. Work-life balance.
Ben Ashkenazy’s vision for the Hechinger Mall isn’t just about creating residential spaces; it’s about creating a network that thrives on the connectivity, convenience, and colorful urban life offered by the H-Street lounge. As the task progresses, it is a testament to the resilience and innovation of urban redevelopment in the post-COVID era. , promising to breathe new life into one of Washington DC’s most colorful neighborhoods.
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