Revolve Development opened Yardhouse, a 35-unit apartment complex at 1406 E. Republican Street in Capitol Hill, in 2014. Since then, it's been 100 percent leased. Now, it's been sold for $13.95 million and buried in there is a new record. At roughly $765 per net square foot and $398,571 per unit, those numbers are a new record for "wood-frame construction" according to Revolve. So it looks like everyone can throw out their wood-frame construction record books that they've holding onto so dearly. The buyer appears to be a company related to the Costacos family, which recently sold the site at Fourth and Columbia that's supposed to become a 102-story skyscraper (maybe). Revolve can now turn its attention to the Seven Seas Building at 1315 First Ave. (former home of the Lusty Lady) as they turn it into a boutique hotel.
· Revolve gets $14M for Capitol Hill apartments [DJC]
· Milestones Revealed for Capitol Hill's Yardhouse & Squire Park's 1315 Jefferson [CS]
· Peep These Plans For a Hotel in The Lusty Lady Building [CS]