The Palisades neighborhood in Washington, DC is undergoing an exciting transformation. If you're interested in finding luxure living with a view of the Potomac River, the new townhouses in the Palisades neighborhood may be just what you're looking for. 
In June, construction began on Canal Parc, a 34-unit townhouse being built on the site of the old Riverside Psychiatric Hospital. The Canal Parc units are currently for sale and will occupy the space at 4460 MacArthur Boulevard, overlooking the Potomac River in Washington, DC.
The Canal Parc townhouses are a scaled-down version of the original proposal. The project was actually introduced in 2006 as a 41-unit property. The DC Office of Planning favored a 37-unit project; however, the Palisades Citizens' Association wanted something smaller. In 2009, the plan was finally approved as a 34-unit project.
In February of this year, the hospital was razed and site work was completed this spring. The first townhouse is expected to go on the market at the end of this year.
The Canal Parc townhouse units will range from 2200 to over 3500 square feet. The units are designed to be state of the art luxury townhouses.
How will this impact surrounding neighborhoods? The majority (8,807) of owner-occupied homes in the neighborhoods around the Palisades are valued at between $500,000 and $1M. Townhouses in the Palisades are expected to sell for $1.3 to $1.7 million. One thing that will likely happen is that the higher value of the Canal Parc townhouses will cause the value of surrounding homes in the neighborhood to increase.
If you are interested in buying a townhouse in the Palisades neighborhoodofWashington, DC or finding a home in the surrounding neighborhoods before prices go up, contact Rachel Valentino. Rachel and her team of Washington, DC real estate experts at Keller Williams can help you get a great price.
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