Lowe and Henderson Park, an international private equity real estate firm, have formed a joint venture to undertake the significant office-to-residential conversion of 1250 Maryland Avenue SW in Washington DC. The finished property will comprise approximately 421 contemporary rental apartments, with 69,000 square feet of supporting retail and commercial space and 545 parking spaces. Currently known as Portals I, the eight-story, 536,000-square-foot office building was originally constructed in 1992 and was the first building in the expansive mixed-use Portals complex located on the southwest waterfront. The conversion work is expected to commence in early 2025 and take about two years to complete