(Updated at 11:55 a.m. on Nov. 4) Citing cost increases, developer JBG Smith is putting the brakes on building two seven-story residential apartment buildings around the corner from the Potomac Yard Metro Station.
Construction of an 85-foot-tall apartment building in block 15 and a 90-foot-tall apartment building in block 19 are being put on hold, Matt Kelly, CEO of JBG Smith, told investors this week. Kelly reportedly said that a surge in construction costs inhibit development.