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[20005](/20005) - Mint House and Altus Realty secure $30.25 million loan to convert a downtown Washington, D.C. office building into hotel-style apartments. - The project involves developing 85 units in the 11-story Denrike Building at 1010 Vermont Ave. NW. - Units will range from studio to two-bedroom, featuring kitchens, workspaces, and living/dining areas, with flexible stay options. - The development, scheduled to open in 2025, is aimed at executives and includes amenities like digital check-in, smart appliances, and in-room fitness options. - The location's proximity to attractions and the lack of new market competition make it an ideal investment, according to Hall Structured Finance. - Mint House is a tech-focused real estate operator expanding its portfolio, with plans to double its presence in major U.S. cities. - The company's technology offers a consistent, branded experience for short-term rentals, aiming to fill a gap in the market for professionalized, apartment-style accommodations. - Amenities include on-demand fitness, local food delivery partnerships, and the option for guests to purchase items found in their fully furnished units. Additional information on <Source>
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According to the 2020 US census, the population of Washington, DC was 701,974.
The average property price in Washington, DC is $601,210.
The property prices in Washington, DC are currently on an increasing trend.
The average rent value in Washington, DC is $2,518.
The average household income in Washington, DC is $138,421.