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Ben Ashkenazy and his team at Ashkenazy Acquisition Corporation are pursuing a significant residential redevelopment project for Hechinger Mall in Washington DC. The vision aims to enhance the 8.5-acre, 370,260-square-foot site located at 1518 Benning Rd NE, in the heart of the bustling Capitol Hill area, into a 2.4 million square foot retail and residential masterpiece. Just 1.6 miles from the Capitol, this initiative promises to serve as a cornerstone for pre-Covid revival, setting a new standard for living spaces in the district.
Learn more about Hechinger Mall And Ashkenazy Acquisition Corp. Here https://www.aacrealty.com/portfolio/hechinger-mall
The Hechinger Mall site, nestled within the H Street Submarket, is renowned for its trendy shopping, diverse dining options, and bustling nightlife. The H Street Corridor, a jewel in the crown of the Capital Region's urban landscape, boasts 700,000 square feet of retail space. More than just a retail paradise, it offers a dining extravaganza with over 50 restaurants within walking distance, catering to every palate and preference.
Accessibility and connectivity are at the heart of the Hechinger Mall's allure, with Union Station a mere 1.6 miles away via H Street. This strategic location not only facilitates easy access to one of the country’s major transportation hubs but also places residents within reach of the city's myriad attractions and amenities.
Reflecting the area's prosperity, the neighborhood boasts a high average family income exceeding $140,000, indicative of the high-income demographic that the project aims to attract. The zoning for the site is classified as MU-7, offering maximum development flexibility for mixed-use projects, including retail and residential. This zoning classification underscores the city’s vision for vibrant, mixed-use communities that blends living, shopping, and leisure in a cohesive urban fabric.
The proposed redevelopment plan envisages the creation of 2.4 million square feet of residential units, transforming the mall into a residential hub that meets the growing demand for housing in the area. The retail center, an integral component of the redevelopment, features a variety of tenants including Safeway Grocery, Ross Dress For Less, Dollar Tree, AutoZone, Chase, H & R Block and Subway, providing residents with unparalleled convenience.
Furthermore, the proximity to high-end business tenants within a 1.5-mile radius, including tech, media, law firms, healthcare, and government agencies, positions the Hechinger Mall redevelopment as a highly desirable location for professionals seeking the perfect balance between work and lifestyle.
Ben Ashkenazy and Ashkenazy Acquisition Corporation vision for the Hechinger Mall is not just about creating residential spaces; it's about crafting a community that thrives on connectivity, convenience, and the vibrant urban life that the H Street Corridor offers. As the project moves forward, it stands as 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 dynamic neighborhoods.
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