Takoma Overlook Still Converting To Condos
April 27, 2010 by jessebkaye
DC-based Tenacity Group is still converting rental apartments to condos in its massive Takoma Overlook apartment complex, formerly known as Hampshire Towers.
Tenacity Group bought Hampshire Towers in mid-2006 for $15.3 million and, after major renovations, put up units in one tower for sale as condos while units in the other tower remained rental.
Forty-one our of 273 units in the new condo tower were purchased at a discounted price. Fifty percent of the 94 units in the North Wing was already sold. The group is now working on both the South and West Wings to convert more units. The West Wing’s 44 units is underway, with 8 units sold while the South Wing’s 94 units will begin delivering by the end of this year.
Takoma Overlook, an FHA-approved project, is expected to be completed as early as December. One-bedroom units with prices starting from $124,500 will be delivered first due to demand; three-bedrooms will be delivered last. Two-bedroom units are priced from $229,500. Sales has already started in October of 2007.