The U.S. arm of London-based Balfour Beatty broke ground on Portals IV, also known as 1301, a $260 million residential project in Washington, D.C., that will overlook the city’s Tidal Basin and national monuments, the builder announced on July 2.
The 525,000-square-foot apartment building, located at 1301 Maryland Ave. SE, is part of The Portals Complex, a public-private partnership with the city. The aggregate market value of the partnership is in excess of $2 billion, and will total approximately 3 million square feet upon 1301’s completion, according to the builder.
The complex already includes Class-A office buildings and the luxury Salamander Hotel, and will now feature two high-end residential buildings once 1301 and its plaza join neighboring apartment building 1331, per the release.
The 1301 apartment building will contain 356 market-rate residences and — similar to its sister building — will feature a rooftop pool, according to the news release.
In addition, the luxury project will include a sky terrace with grills and firepits, along with clubroom entertaining areas such as a piano lounge, coworking spaces, dog spa and park, fitness center and game lounge with sports simulator.
“Our expertise in delivering successful projects across Southwest D.C. demonstrates our deep understanding of this unique development and our ability to deliver complex construction projects in one of D.C.'s most prestigious locations,” said Art Malacarne, Balfour Beatty senior vice president of Mid-Atlantic operations, in the news release.
The development comes amid a potentially transformative time for the District of Columbia — the NFL’s Washington Commanders in April signed a $4 billion deal to return to the Robert F. Kennedy Memorial Stadium campus in the Southeast quadrant of the city. Officials expect the new stadium to open in 2030, but infighting among the city’s government could jeopardize that target date, per Axios.
In addition, the city is seeing a large swath of new developments, including The Stacks in the city’s Buzzard Point neighborhood.
