Erkiletian Development Case Study

When Myron P. Erkiletian founded Erkiletian Development, the focus was to conserve and sustain the environment, while remaining at the cutting edge of technology. Now, 40 years later, with projects like the Fahrenheit Building, it is clear that the firm has stayed true to its founder's dream, as it strives to reduce its impact on the environment.

This family-owned, Washington D.C. based real estate development and construction management firm has always been known to take risks and do what was necessary to achieve its goal of keeping economic growth and a healthy environment in harmony with one another. Being so focused on creating sustainable designs and conserving the environment has made Erkiletian stand out amongst its competitors and

There is a lot of attention to detail in quality that goes into each and every development that we do," says Bill Denton, Vice President of Development.

Developing the Fahrenheit Building

In 2015, the firm took on a large project that was sure to benefit them and the environment in the long run, and created a much clearer picture of what Erkiletian was all about. Just two months before the construction of the Fahrenheit Building was complete, Erkiletian purchased it from Pers Development for close to $14.3 million. The decision was an unusual one, but the company saw the building's potential and the opportunity to design something grand.

"Usually, if you buy a project, you are going to buy it before development starts or after it is complete. We had a property that we needed to sell, and we used the proceeds from that sell in a 1031 exchange. We found two other properties that we purchased, but this one fit right in as far as the location we were looking for and the dollar amount we needed to spend," says Denton.

Located in the Petworth neighborhood, near several bars, restaurants and attractions, this building features 31 apartments and mixed-use space that includes a ground floor for