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Friday, June 29, 2012 12:08 p.m.

The Avenue named a finalist for international development award

The Avenue, Square 54

After its first full year of being open, The Avenue has been recognized as a finalist in a prestigious international real estate development award by The Urban Land Institute. Hatchet File Photo.

Foggy Bottom’s upscale apartment and commercial complex, The Avenue, was recognized this week by the Urban Land Institute for making a positive impact on the neighborhood.

The Avenue was one of 29 finalists to earn a Global Award for Excellence, which recognizes urban developments for invigorating their communities.

The institute describes The Avenue’s 500,000 square foot property as a “complex mixed-use development of a city block reintegrating diverse urban functionality, according to a press release.

The building was recognized in categories including leadership, community and societal contributions, innovation, public and private partnership, sustainability, and economic viability, according to the press release.

The Avenue, located on I Street, includes 12 floors of apartments and 10 floors of office space, with a Whole Foods Market, six restaurants and a Citibank on the ground level.

Up to 14 winners from the finalist pool will be announced at the institute’s meeting in October. This year’s contest saw almost 200 applicants.

The Avenue was also named the “deal of the year” by the Washington Business Journal for its lease of 95 percent of the building’s available office space.

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