The recent opening of the new Living Social live events venue has drawn significant attention to the 900 block of F Street in the Penn Quarter.  Living Social has dramatically restored this 1890 Georgian Romanesque to its original grandeur.  The building interior looks like five floors just waiting for lots of interesting activities to happen.  

Located directly next door to the Living Social building is the Ventana Condominiums.  The Ventana was delivered in 2006 by Douglas Development and features 62 units in a 12-story building.  The modern glass and steel tower is fronted on F Street by three preserved row houses that effortlessly blend this development into the neighborhood.

Many Ventana residences offer 2-story living with lofts overlooking the main living area and also include private outdoor terraces.  Developer finishes included granite counters, stainless appliances, marble master baths, bamboo floors, gas fireplaces and floor-to-ceiling windows.

The Ventana is a pet-friendly development and building amenities include a concierge desk, fitness center and parking garage.  From this Penn Quarter location Chinatown, the Verizon Center, museums, restaurants and Metro stations are just steps away.

Currently, two condos are available for sale at the Ventana including a 2 BR / 2 BA / 1,225 SF condo listed for $674,900 and a 1 BR / 1.5 BA / 977 SF condo listed for $479,900.  Here is a resource to view active Ventana real estate listings.

Manhattan urban chic invades the corner of 7th St and E St in the Penn Quarter at the Residences of Terrell Place.  This 29-unit boutique development features the restored facade of the 1868 Dime Savings Bank Building and modern, architecturally unique interiors.  The Residences at Terrell Place prominently features a 10-story glass elevator structure that joins the Dime Savings Bank 10-story building with two four-story row houses.

Residences at Terrell Place interior finishes delivered by the developer in 2003 included hardwood floors, Canac kitchen cabinets, black granite counters, GE Profile stainless steel appliances and over-sized windows.  Open floor plans, high ceilings and lots of glass give individual units a spacious feel.  The dramatic lobby building lobby with a manned front desk provides residents with a true sense of arrival.

Terrell Place is near the top of the charts for convenience in District living.  Walk to the Gallery Place or Navy Memorial/Archives Metro stations, Verizon Center, museums, restaurants, theaters, clubs and the Mall from this location.  Many federal agencies, law firms and other major downtown employers are located within walking distance of this location.

Currently, one unit is listed for sale at the Residences at Terrell Place and features 1 BR / 1 BA and is listed for $515,000.  Here is a resource to view active Residences of Terrell Place real estate listings.

MapQuest has developed a new methodology for ranking neighborhoods called a Vibe Score. A Vibe Score is a composite of the following six criteria: walkability, popularity, going out, edginess, burbiness and residentiality. Vibe uses a patented algorithm that utilizes billions of search and social input data points to create real-time rankings.

Georgetown garnered the top ranking DC Vibe Score with a 10, closely followed by Capitol Hill with a 9.8 and Downtown with a 9.6. These are all very popular destination neighborhoods with great walkability and a significant number of venues to attract lots of visitors. It is interesting that two of the neighborhoods that I expected to high Vibe Scores, Logan Circle and Columbia Heights didn't crack the top ten in the District.

The whole concept of a Vibe Score is most fascinating as it compiling real-time social networking data points to calculate its rankings. I think it is safe to say that applications like this are accelerating the concept of crowd sourcing to mainstream America.

Located directly across the street from the Verizon Center, the Cosmopolitan offers an upscale, urban experience at the core of the Penn Quarter action.  From this location on 6th Street, you can walk to the Metro, Gallery Place, restaurants, shopping, clubs and museums.

The Cosmopolitan was delivered in 2005 and offers an intimate feel with just 4 units per floor and a total of 46 units in the development.  Building amenities include a rooftop deck, fitness center, community room with free wifi and underground parking for select units. Finishes at the Cosmopolitan include bamboo floors, gas fireplaces, soaking tubs, walk-in closets and open floor plans.

Currently, there are three units available for sale at the Cosmopolitan ranging in price from $485,000 - $725,000.  Here is a resource to view active Cosmopolitan real estate listings.

MarketWatch recently ranked Pennsylvania Avenue as the fifth most expensive street in the nation for commercial rental rates.  Rents on Pennsylvania Avenue, with great access to both the White House and Capitol Hill, are now averaging a whopping $80 SF.  Pennsylvania Avenue only trails a couple of notable streets including Sand Hill Road in Menlo Park and Fifth Avenue in New York.

In the residential sector, Pennsylvania Avenue is also no slouch with several luxury condo buildings that command premium selling prices.  Notable developments on this grand avenue include: 2501 Penn, Market Square East and Market Square West and the Pennsylvania  Here is a resource to view active Pennsylvania Avenue real estate listings.

When touring Penn Quarter condo buildings, Mather Studios almost always gets high marks from clients.  Highly respected developer PN Hoffman converted an under-utilized commercial building located at 916 G Street into 50 loft-style condos.  Mather Studios industrial touches include exposed brick walls, open ductwork, high ceilings, commercial-grade windows, frosted glass sliding doors and ultra-cool metallic doors entryway doors.

Mather Studios is a truly pet-friendly building, a rarity in downtown District condo buildings.  Mather Studios residents enjoy the manned front desk, bike storage room and underground parking.  Five Metro Stations are walkable from this Downtown Penn Quarter location as well as the Verizon Center, Gallery Place and the hot restaurants and shops along 7th Street.

Currently there is one active listing at Mather Studios, a 2 BR /  2 BA with 1,280 SF listed for $674,000.  Here is a resource to view active Mather Studios listings.

The Market Square complex located at 701 Penn and 801 Penn in the Penn Quarter neighborhood is selling for a record breaking rate of $904/SF.  This two building complex features 679,719 SF of office and retail space as well 210 privately-owned condos.

Located on Pennsylvania Avenue midway between the White House and the Capital, Market Square is truly one of DC's power addresses.  Over the last year, five residential condos have sold at Market Square ranging from a 2,200 SF penthouse for $1.3M to a 545 SF one bedroom for $345,000.  The average cost per SF for these five transactions was $685/SF, well below the record breaking price for the commercial segment of the buildings.

Currently, four condos are listed for sale at Market Square East and Market Square West.  All four active listings are one bedroom floor plans and range in price from $324,000 to $495,000.

The Penn Quarter ranks near the top of the list of DC neighborhoods that have transformed the most over the last decade.  Sparked by the opening of the Verizon Center in 1997, the Penn Quarter is now home to over ten thousand Washingtonians living in a vibrant and exciting community.  With WalkScores in the top couple percentiles, Penn Quarter residents can truly enjoy a car-free lifestyle.

Much of the residential space in the Penn Quarter is upscale, modern and newly built within the last ten years.  With so many choices, it can be challenging to differentiate between Penn Quarter condo developments and pick the one best suited for your budget and lifestyle.  To assist in your search process, here are our favorite Penn Quarter condo developments:

1. The Cosmopolitan - 715 6th Street

Aptly named, the Cosmopolitan is a true boutique condo building with lots of style.  With only  four condos per floor and just 46 units, the Cosmopolitan has the feel of an intimate building.  Bamboo floors, gas fireplaces, maple cabinets, granite and stainless appliances are standard fare at the Cosmopolitan.  The location across the street from the Verizon Center puts residents in the center of it all.  Building amenities include a 24-hour front desk, fitness center and club room.  Capital and monument views from the roof round out the experience at our favorite Penn Quarter building.

2. The Lafayette - 631 D Street

The Lafayette is chic condo development with awesome amenities and truly innovative and interesting floor plans.....nothing boxy or cookie cutter about the Lafayette. Utilizing the facade of the 1926 Central Armature Building, the Lafayette melds rises with elegance from its historic footing.  The two-story units in this building live like a townhouse in the center of the city.  High ceilings, with two-story walls of glass deliver a major wow factor to many of the units at the Lafayette.  A rooftop pool, two fitness centers, business center, theatre and 24-hour front desk offer a true resort-style experience.  Added touches include a peaceful inner-courtyard and beloved Indian restaurant Rasika just outside the front door.

3. Market Square West - 801 Pennsylvania Avenue

While not a newer development like our other Penn Quarter picks, Market Square West deserves a spot on this list.  Living directly on the grande dame of DC avenues is a luxury beyond the reach of many, but one enjoyed by the Residents of Market Square West.  Arguably the best residential views in the District, Market Square West has views of the Capitol, the Archives, and the Washington Monument.  Many units feature large balconies overlooking Pennsylvania Avenue.  Amenities at Market Square West include a fitness center with saunas, 24-hour front desk and a rooftop deck with pool overlooking the Capital and monuments.

The results of a recent survey on home design trends by the American Institute of Architects reads like a play book for recent DC new construction. It is refreshing to see several of the trends that we all appreciate about the DC market becoming more prevalent across the nation.  Community design trends that are gaining in popularity include infill development, access to public transportation, mixed-use facilities, and dedicated open space. 

Here in the District, it is easy to trace the development that followed the extension of Metro lines throughout the city.  The vast swaths of vacant land created by the 1968 riots provided a critical mass of infill space that have allowed for neighborhood transforming development in the Columbia Heights and U Street Corridors.  It is no coincidence that investment in these neighborhoods didn't come until after the Metro stations were opened.  Today with over 800,000 daily riders it is hard to imagine what the District would look like without the Metro System.  Certainly, the inner-District investment in housing infrastructure may have shifted further outside the Beltway.

Mixed-use facilities are another housing trend cited in the AIA survey as gaining in popularity.  The all-important neighborhood review process here in the District has in many cases forced developers to build welcoming street-level retail space.  Popular newer condo developments with active ground floor retail include Metropole in Logan Circle, Union Row and Langston Lofts in the U Street Corridor, City Vista in Mount Vernon Triangle and the Georgetown Madelon in Georgetown.

The inclusion of open space is another growing trend cited by the AIA survey.  Thanks to the L'Enfant and McMillan Plans and several administrations that pushed through open space initiatives, the District is blessed with an abundance of open space.  Much of the recent development in the District have been infill projects where new development is completed between existing structures.  Many of these infill projects have invested in creating exciting roof-top common space.  Some of the better rooftops with common "open space" built in recent years include The Whitman, and City Vista in Mount Vernon Triangle, Jenkins Row on Capitol Hill, Kenyon Square in Columbia Heights, 3303 Water St in Georgetown and Clara Barton and Madrigal Lofts in the Penn Quarter. 

Yes, we are fortunate to have so many of these trends are already widely adopted here in the District.