Summit Roosevelt
Washington, D.C.
Project Type:
Residential
Case No:
C034016
Year:
2004
SUMMARY
Summit Roosevelt is the rehabilitation of a grand but deteriorated 1920s-era hotel as a modern, luxury rental
apartment complex. Targeted to urban professionals, the 198-unit property offers an amenity package that takes
advantage of the hotel’s original public areas as well as more modern features. Apartment interiors echo the building’s
historic character. A creative solution to the problem of how to provide adequate parking on an infill site combines
mechanical parking stackers and valet service.
FEATURES
Historic preservation that has retained and restored an impressive classical red brick and limestone facade
embellished by dramatic, baroque-inspired balconies as well as interior features such as elaborate plasterwork,
marble and tile floors, and stained-glass skylights
Extensive amenities, including a sizable public lobby, private dining room, state-of-the-art fitness center,
media room, and refrigerated wine cellar, plus concierge service and guest suites and offices available for rent
to residents
Valet parking with a mechanical stacking system that increases parking capacity
Summit Roosevelt
Washington, D.C.
Project Type: Residential
Subcategory: Multifamily
Volume 34 Number 16
July–September 2004
Case Number: C034016
PROJECT TYPE
Summit Roosevelt is the rehabilitation of a grand but deteriorated 1920s-era
hotel as a modern, luxury rental apartment complex. Targeted to urban
professionals, the 198-unit property offers an amenity package that takes
advantage of the hotel’s original public areas as well as more modern features.
Apartment interiors echo the building’s historic character. A creative solution to
the problem of how to provide adequate parking on an infill site combines
mechanical parking stackers and valet service.
SPECIAL FEATURES
Historic preservation that has retained and restored an impressive
classical red brick and limestone facade embellished by dramatic,
baroque-inspired balconies as well as interior features such as elaborate
plasterwork, marble and tile floors, and stained-glass skylights
Extensive amenities, including a sizable public lobby, private dining
room, state-of-the-art fitness center, media room, and refrigerated wine
cellar, plus concierge service and guest suites and offices available for
rent to residents
Valet parking with a mechanical stacking system that increases parking
capacity
PROJECT ADDRESS
2101 16th Street, N.W.
Washington, D.C. 20009
www.summitroosevelt.com
OWNER/DEVELOPER
Summit Properties, Inc.
309 East Morehead Street
Charlotte, North Carolina 28202
704-334-3000
Fax: 704-334-4496
www.summitproperties.com
DEVELOPMENT PARTNER
Furioso Development
1520 16th Street, N.W., Suite 101
Washington, D.C. 20036
202-518-7888
Fax: 202-518-7828
GENERAL CONTRACTOR
Summit Apartment Builders, Inc.
1420 Spring Hill Road, Suite 400
McLean, Virginia 22102
703-556-3301
Fax: 703-556-3307
ARCHITECT
The Housing Studio
500 East Boulevard
Charlotte, North Carolina 28203
704-333-7862
Fax: 704-343-9380
HISTORIC PRESERVATION
Shaw Pittman LLP
2300 N Street, N.W.
Washington, D.C. 20037
202-663-8879
Fax: 202-663-8007
www.shawpittman.com
CIVIL ENGINEER
VIKA
8180 Greensboro Drive, Suite 200
McLean, Virginia 22202
703-442-7800
Fax: 703-761-2787
LANDSCAPE ARCHITECTS
The Fitch Studio
1740 20th Street, N.W.
Washington, D.C. 20009
202-588-0148
Fax: 202-588-0149
www.fitchstudio.com
LandDesign
302 Knight’s Run Avenue
Tampa, Florida 33602
813-275-9276
Fax: 813-275-9277
www.landdesign.com
INTERIOR DESIGNERS
Forrest Perkins
2121 Wisconsin Avenue, N.W., Suite 100
Washington, D.C. 20007
202-478-8810
Fax: 202-478-8811
www.forrestperkins.com
Model Home Interiors
10120 Bacon Drive
Beltsville, Maryland 20705
301-937-6145
Fax: 301-937-3785
GENERAL DESCRIPTION
The eight-story Summit Roosevelt is the restoration of the building originally known as the Hadleigh Apartment Hotel.
Opened in 1920, it was once considered the finest apartment hotel south of New York City. Designed by Appleton P.
Clark, Jr., the structure contained 126 apartments on the top three floors (including 99 efficiencies, 15 one-bedroom
units, six two-bedroom units, and six three-bedroom units) atop 168 hotel suites. In 1924, the Hadleigh was renamed
the Roosevelt in honor of President Theodore Roosevelt. Notable residents included U.S. senators and congressmen,
and the property was featured in Best Addresses: A Century of Washington’s Distinguished Apartment Houses (James
M. Goode, Washington, D.C.: Smithsonian Institution Press, 1988). From the 1920s to the 1950s, many legendary
musicians, including Benny Goodman, Nat King Cole, and Ray Charles, performed there. In 1956, the building was
closed by the city because of defective plumbing. It was later remodeled and reopened in 1963 as the Roosevelt Hotel
for Senior Citizens. It continued to be operated as housing for the elderly—first privately and later by the District of
Columbia government—into the 1990s, and gradually deteriorated as a result of management neglect. By 1998, the
building’s 365 units were largely uninhabited.
In 1999, Summit Properties, a real estate investment trust (REIT) and developer of luxury apartment homes, decided
to purchase and renovate the Roosevelt. Although most of the firm’s experience was in managing and developing
suburban projects in the southeastern United States, by the late 1990s its corporate strategy had evolved in the
direction of balancing its portfolio with more urban properties. Summit believed the building offered an excellent
location and strong prospects for rent growth and long-term appreciation. It also felt it could apply lessons it had
learned during a previous historic rehabilitation project (Summit Grand Parc, also located in Washington, D.C.) to the
restoration of the Roosevelt.
The restored Summit Roosevelt features 198 apartments, ranging in size from 516-square-foot (48-square-meter)
studios to 1,623-square-foot (151-square-meter) three-bedroom, two-bath units. Large lobby-level public spaces and
an extensive amenities package have attracted many urban professionals. Both the public spaces and the apartments
have been restored in a manner sensitive to and consistent with the building’s history. The developer’s careful
attention to detail has made the property a showplace and a catalyst for the revival of the surrounding neighborhood.
THE SITE
Summit Roosevelt is located on a three-quarter-acre (one-third-hectare) site on 16th and V streets, N.W., in
Washington, D.C.’s Meridian Hill neighborhood. Once home to many embassies, the neighborhood declined during the
1960s and 1970s, but has experienced a resurgence in recent years.
DEVELOPMENT PROCESS
Before Summit purchased the building from the District of Columbia government, two fires had damaged many of the
units, and water damage caused by a roof leak had destroyed most of the decorative plaster moldings. Other historic
features also had deteriorated, and the remains of many of these features were buried under dropped ceilings and
drywall. The scope and cost of the historic restoration required by the U.S. National Park Service (NPS) and the
Washington, D.C., Historic Preservation Office were unclear. And, based on their experience with the earlier historic
rehab project, Summit executives knew that they were bound to encounter many additional unknowns as they
proceeded with the planning and development process.
One of the first challenges they faced was how to financially support the sizable
(20,000-square-foot/1,858-square-meter) lobby-level public space. Historic preservation requirements and site
constraints prevented any easy addition of new building entrances, which would be needed to incorporate major
revenue-producing uses. In addition, market research showed that there was limited demand for alternative uses
such as retail shops, restaurants, or offices at this location. Summit thus chose to retain most of the lobby level as
public space and to create more but smaller apartments on the floors above. The marketing team then “sold” the
lobby level as an extension of the apartments, a strategy that has been quite successful. Summit also created three
guest suites and two small office suites, which are available for rent to residents and produce additional revenue.
The lack of on-site parking was another major obstacle to development. Although the building’s historic status
exempted it from parking requirements, the target resident profile suggested that a significant amount of garage
parking would be needed. The development team explored several options, including excavating additional basement
area (which proved to be cost prohibitive), a shared parking agreement that would allow residents to use a
neighboring lot or a physical connection to a garage located across an alley (both of which ultimately were
unattainable), and the possibility of purchasing an off-site garage (however, no opportunities to do so could be found
nearby). The best solution proved to be the conversion of the basement into a single-level garage, which required
excavating a portion of the basement to accommodate a ramp. Summit was able to achieve a 53 percent parking ratio
by coupling a full valet parking operation with hydraulic car “stackers,” which allow one car to be parked and then
raised to create space for a second car to park beneath it, effectively adding 20 parking spaces at a cost of $118,000
($5,900/space). While additional excavation was required to accommodate the stackers in several locations, this was
still the most cost-effective way to provide this parking ratio, which has proved sufficient to accommodate demand,
given the downtown location.
The physical layout of the structure—one long building from which five wings extend—also created constraints to its
redevelopment. The configuration of existing windows, door openings, and corridors, which could not be modified
because of historic preservation requirements, was problematic. Maintaining the original corridor widths made
achieving modern apartment depths very difficult. The design process involved many redrafts, and while all of the
resulting units are functional, some are smaller or larger than optimal.
Engineering issues also were a concern, given the age of the structure and the need to replace all major building
systems, including the mechanical, electrical, and plumbing (MEP) and elevator systems. The development team
needed to study and fully comprehend the 1920s-era two-way waffle slab construction technique, which is no longer
in use. The team also had to work closely with historic preservation officials to ensure that historic materials were not
harmed as the building was upgraded. Continuing collaboration among the developer, NPS, the D.C. Historic
Preservation Office, historic preservation consultants, and architects was critical. A lack of as-built drawings further
complicated the rehab process, making understanding the structure even more of a challenge. The routing of
plumbing and fire sprinkler lines through decorative plaster and wood beams was particularly challenging and time
consuming.
Environmental issues such as asbestos and lead abatement necessitated careful monitoring during construction. Every
apartment now has all-new walls and/or encapsulated plaster ones, and has been fully documented. Locating qualified
subcontractors and artisans to perform the restoration work and projecting the timing and cost of their efforts also
were difficult.
New MEP penetrations through the existing building slab required steel reinforcement. While the developer budgeted
$1 million for this procedure, the development team was able to save more than $750,000 by developing a more
cost-effective reinforcing detail on site. Creative thinking saved time as well as money; when determining how to
demolish interior walls efficiently without damaging the structure, the development team realized that using Bob-cats
would accelerate the process, but that they had to adjust their sequencing to start from the top and work their way
down, so that they could use existing walls to support the heavy equipment. Despite all of these challenges, Summit
reports that the project was completed on time and under budget.
FINANCING
The project was eligible for federal Historic Preservation Tax Credits, which provide a rebate of 20 percent of qualified
construction costs. The use of these tax credits contributed more than $3.5 million toward the extensive restoration
efforts. But it also required the development team to undertake a very intensive process of cataloging every feature
of the building and proposing potential treatments for NPS review and approval. The project was internally financed
by the developer.
DESIGN
When Summit purchased the property, little was known about its original appearance, and the developer was
surprised to find gold-painted columns, elaborate plaster arches, chestnut paneling, and stained-glass skylights
hidden behind dropped ceilings and drywall. A 1921 Architecture magazine article about the building provided
information that enabled Summit to restore or replicate many of its historic features. Much of the plasterwork had to
be reconstructed from fragments, while the stained-glass skylights were cleaned and rebuilt. The coffered and vaulted
ceilings, marble floors, and elegant plaster moldings in the lobby level’s Roosevelt Bar, Mulberry Room, and Summit
Room—all of the building’s principal entertainment areas—have been fully restored. Period light fixtures, carpets, and
furniture mimic those seen in the building during the 1920s, and designers and engineers took a lot of time and effort
to conceal modern HVAC and safety features (such as sprinkler heads) in the building’s original fittings.
The residential floors each contain ten to 20 apartments, whose interiors reflect the building’s historic character, with
decorative moldings, built-in shelves, hardwood foyers, nine- to ten-foot-high (2.7- to three-meter-high) ceilings,
black and white ceramic tile bathroom floors, and pedestal sinks. The new apartment entry doors incorporate a bowed
panel that mimics the original building’s “valet doors,” which contained a rack accessible from either side, allowing a
guest to place his or her drycleaning in the rack and service personnel to retrieve it from the other side without
disturbing the guest. The units also feature a wide range of modern conveniences, including all-new building systems,
GE Profile appliances, in-unit washers and dryers, and recessed lighting; penthouse units also contain hardwood floors
and granite kitchen countertops. The hallways’ original terrazzo floors, which were badly cracked over the years, have
been covered in most areas by carpeting that mimics the look of the terrazzo.
MARKETING/MANAGEMENT
Marketing and leasing began in October 2002. The project was 97 percent leased by the end of the third quarter of
2003 and 100 percent leased in March 2004. It is achieving above-market rents in a very competitive market. Since
stabilization, the management team has leased units without concessions in a market where two-month concessions
are the norm. Its creative use of the building’s public space as a marketing tool was helpful in attracting renters. The
extensive amenities package—a 24-hour front desk attendant; grand entertainment spaces including a light-filled
loggia with a grand piano, a private dining room, and a bar/billiards room; a fitness room with a climbing wall, sauna,
and steamroom; a media room with plasma television and daily continental breakfast; a wine cellar; a business center
with a conference room and computer equipment; and valet parking—also helped attract prospective residents. The
public areas are well used, and the management’s attention to detail makes the ground floor feel like a hotel, with
jazz music, personalized service, and a luggage cart for residents’ use. Multiple, unsolicited offers for condominium
conversions demonstrate the property’s value. Summit’s exit strategy likely will be condo conversion, and the project
was set up legally for this eventuality.
EXPERIENCE GAINED
Careful planning pays off. The time the developer and contractor put into upfront planning to solve a wide
range of development problems made implementing their solutions easier and more cost efficient.
Be aware that the decisions of historic preservation review authorities will have major programmatic and
financial implications for a project. This can be a major unknown factor in the predevelopment phase that will
affect the bottom line throughout the development process.
Use only highly knowledgeable, qualified subcontractors with experience in historic preservation. The
developer regrets not doing so in several instances.
A highly motivated team can improve the budget and speed up the schedule enormously. Almost everyone
who worked on this project took pride in it and went the extra mile to ensure that it was completed as quickly
and cost effectively as possible.
Expect the unexpected. Any renovation project involves many unknown elements. Development and
construction staff must be prepared to make changes at every stage of the planning and development
processes.
Managing the valet parking operation was not easy at first. A no-tipping policy, which was necessary for
residents’ peace of mind, made it difficult to retain valets. The solution was to allow the valets to earn extra
revenue by washing cars.
PROJECT DATA
LAND USE INFORMATION
Site area (acres/hectares): 0.75/0.30
Percentage complete: 100
Gross density (units per acre/hectare): 264/652
Off-street parking spaces: 105
LAND USE PLAN
Use
Percentage of Site
Buildings
85
Streets/surface parking
5
Landscaping/open space
10
Total
100
RESIDENTIAL INFORMATION
Unit Type
Number of
Units
Area
(Square Feet/
Square Meters)
Percentage
Leased
Monthly Rents
Studio
31
516–546/48–51
97
$1,375–$1,525
One-Bedroom/One-Bathroom
91
760–882/71–82
97
$1,680–$1,950
Two-Bedroom/One-Bathroom
18
879–931/82–87
97
$2,245–$2,495
Two-Bedroom/Two-Bathroom
52
965–1,445/90–134
97
$2,395–$4,220
Three-Bedroom/Two-Bathroom
6
1,623/151
97
$4,295
DEVELOPMENT COST INFORMATION
Site Aquisition Cost: $13,430,219
Soft Costs: $9,153,280
Permit/review fees: $100,280
Design and engineering: $1,100,000
Legal: $425,000
Insurance: $150,000
Real estate taxes: $100,000
Development expenses: $43,000
FFE: $885,000
Interest: $4,000,000
Capitalized overhead and development fee: $1,900,000
Development contingency: $450,00
Construction Costs (excluding contingency): $23,000,000
Total Development Cost: $45,583,499
Historic Tax Credit: $(3,500,000)
Total Project Cost: $42,083,499
DEVELOPMENT SCHEDULE
Agreement with seller completed: March 2000
Closing in escrow due to preexisting lawsuit: June 2000
Architectural design began and National Park Service application prepared: summer/fall 2000
Lawsuit settled/closing: January 2001
NPS approved design; demolition work begun: summer 2001
Construction started: October 2001
First certificate of occupancy obtained/marketing started: October 2002
Final certificates of occupancy obtained: February 2003
Lease-up completed: September 2003
DIRECTIONS
From Ronald Reagan Washington National Airport: Exit onto the northbound George Washington Memorial Parkway, then
merge onto northbound U.S. 1 toward Washington, D.C. Continue straight onto 14th Street, N.W. At Thomas Circle,
follow the circle to M Street, N.W., then turn right onto 15th Street, N.W. Turn left onto V Street, N.W., then left onto
16th Street, N.W. Summit Roosevelt will be on the left.
Driving time: 15 minutes in nonpeak traffic.
Julie D. Stern, report author
Julie D. Stern, interim editor, Development Case Studies
Jason Scully, editor, Development Case Studies
David James Rose, copy editor
Joanne Nanez, online production manager
This Development Case Study is intended as a resource for subscribers in improving the quality of future projects. Data contained
herein were made available by the project's development team and constitute a report on, not an endorsement of, the project by
ULI–the Urban Land Institute.
Copyright © 2004 by ULI–the Urban Land Institute
1025 Thomas Jefferson Street, N.W., Suite 500 West, Washington D.C. 20007-5201
Summit properties, Inc., has transformed a deteriorated 1920s-era hotel located in Washington, D.C.?s Meridian Hill
neighborhood into the Summit Roosevelt, a 198-unit luxury rental apartment complex.
When it first opened in 1920, the Summit Roosevelt was known as the Hadleigh Apartment Hotel. In 1924, it was
renamed to honor president Theodore Roosevelt. Once considered the finest apartment hotel south of New York City, the
Summit Roosevelt was home to U.S. senators and congressmen. From the 1920s to the 1950s, many legendary
musicians, including Benny Goodman, Nat King Cole, and Ray Charles, performed there.
In 1963, the building was remodeled and reopened as the Roosevelt Hotel for Senior Citizens. It continued to be
operated as housing for the elderly into the 1990s, and gradually deteriorated as a result of management neglect. By
1998, the building?s 365 units were largely uninhabited. The restored Summit Roosevelt features 198 apartments
ranging in size from 516-square-foot (48-square-meter) studios to 1,623-square-foot (151-square-meter)
three-bedroom, two-bath units.
Working with the U.S. National park Service, the District of Columbia Historic preservation Office, and historic
preservation consultants, Summit properties has re-created or restored many original architectural details throughout the
apartment complex. period light fixtures, carpets, and furniture mimic those seen in the structure during the 1920s, and
designers and engineers took a lot of time and effort to conceal modern HVAC and safety features (such as sprinkler
heads) in the building?s original fittings.
The coffered and vaulted ceilings, marble floors, and plaster moldings in the lobby level?s Roosevelt Bar, Mulberry Room,
and Summit Room—all of the building?s principal entertainment areas—have been fully restored.
To increase the amount of on-site parking, the development team converted the basement into a single-level garage.
The Summit Roosevelt was able to achieve a 53 percent parking ratio by coupling a full valet parking operation with
hydraulic car "stackers," which allow one car to be parked and then raised to create space for a second car to park
beneath it, effectively adding 20 parking spaces at a cost of $118,000 ($5,900 per space).
Summit Roosevelt site plan.
A typical Summit Roosevelt floor plan.