Swedish builder-developer Skanska will invest $128m in building a luxury, multi-family residential tower in Washington, DC.
The construction contract is worth $96m which will be included in the US order bookings for the third quarter 2021, Skanska said.
Located in the northeast of the city, the scheme, called Ozma, will be a 13-story, 275-unit apartment building giving 5,200 sq m of space, with 2,400 sq m of ground-floor retail area. It will aim for LEED Gold, WiredScore Gold and Fitwel Certifications.
Construction starts this month and the project is scheduled to be completed in 2024.
Since 2009, Skanska has invested $3.2bn in commercial and multi-family projects in the US.