CBG Completes Student Housing Renovation at George Washington University

WASHINGTON—CBG Building Company completed its renovation today of Varsity on K, a 12-story student housing community within walking distance of George Washington University and the Foggy Bottom Metro Station. CBG renovated the post-tensioned concrete apartment community, originally built in 1986, to support open-concept living within its fully furnished studio, one-, two-, and three-bedroom units, and provide newly built amenities not previously available to students.

"CBG has been an essential part of our success, every step of the way," said Donnie Gross, managing partner at Varsity Investment Group. "Their collaborative, team-oriented approach has allowed us to quickly pivot without delay when we've encountered unforeseen obstacles."

The renovation spanned a number of improvements to revitalize the highly visible community at the corner of K and 24th Streets NW. CBG surgically demolished interior walls in each unit to provide open-kitchen layouts; replaced or repaired the building's core MEP systems, including fire sprinklers and alarms throughout the building; and painted the exterior and replaced all of the aluminum windows and sliding glass doors.

"It isn't often that you have the opportunity to reposition an aging asset into a world-class community in one of the most sought after neighborhoods in Washington, D.C.," said Scott Shinskie, partner at Varsity Investment Group. "Varsity on K will be a welcomed addition for young millennials who are finishing their degree or starting their first job."

Varsity on K features luxury finishes such as quartz countertops, ceramic tile bathroom walls and floors, GE stainless steel appliances, and luxury vinyl plank and carpeted flooring. New community amenities include a landscaped courtyard terrace, fitness center, study lounge, and an entertainment room with fully outfitted gourmet demonstration kitchen.

"We were excited when Varsity Investment Group gave us the opportunity to renovate this building," said Keith Anderson, president of CBG. "The finished product is simply outstanding, and a testament to the vision of the Owner and the cooperation we shared with the design team at Soto Architecture. In under seven months, our team completely transformed this building into a landmark student housing community."

In addition to Varsity on K, CBG's recent renovation and adaptive reuse portfolio includes: Varsity on Charles, a 12-story student housing community at Johns Hopkins University in Baltimore, MD for Varsity Investment Group; Brightleaf & Cooper, a LEED luxury townhome community in Alexandria, VA scheduled for completion in April, 2017; and Willow & Maple, a 102-unit community with three historically restored single family homes in Washington, D.C.

# # #