Ben Ashkenazy and his team envision the transformation of the Hechinger Mall in Washington, D. C. in a 2. 4 million-square-foot residential and advertising center, revitalizing Capitol Hill and new standards of living near the Capitol.
Washington, DC (Hagerstown, MD), United States – March 29, 2024 –
Ben Ashkenazy and his team at Ashkenazy Acquisition Corporation are carrying out a major residential redevelopment assignment for the Hechinger Shopping Center in Washington DC. The vision is the 8. 5-acre, 370,260-square-foot site at 1518 Benning Rd NE, in the center of colorful Capitol Hill, into a 2. 4 million-square-foot residential and advertising masterpiece. Just 2. 5 km from the Capitol, this initiative promises to serve as a cornerstone of the pre-Covid renaissance, establishing a popular new style for the neighborhood’s living spaces.
Learn more about Hechinger Mall and Ashkenazy Acquisition Corp. Here https://www. aacrealty. com/portfolio/hechinger-mall
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
Ben Ashkenazy and Ashkenazy Acquisition Corporation’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 that the H-Street lobby offers. 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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