$4.8 MILLION RENOVATION UNDER WAY FOR TWO MULTIFAMILY BUILDINGS IN D.C.

WASHINGTON, D.C. — Locally based Urban Investment Partners (UIP) has commenced a $4.8 million gut renovation of The Warrington and The Wilmington, two historic apartment buildings at 1801 and 1811 Wyoming Avenue N.W. in Washington, D.C. The majority of the 43 fully renovated units will be sold as WY18 condominiums in 2011. The revamped buildings will feature modern, upscale amenities including rooftop party decks and wet bars, GE Cafe-series appliances, energy-efficient windows and water-saving dual-flush commodes, iPod docking stations, expanded closets and storage areas, and new heating, cooling, wiring and plumbing. Additionally, the renovation will include the retail store fronts on 18th Street, which are on the ground level of 1801 Wyoming Avenue). UIP General Contracting, a subsidiary of UIP, will execute the renovation project. The property will be managed by UIP Property Management, also a subsidiary of UIP.