(Read more on the multifamily market and more on the debt and equitymarkets.)
WASHINGTON, DC-Level 2 Development is providing $1 million to anapartment building association so it can remain as affordablehousing. The money is part of a public benefits package the companynegotiated with the city for its nearby View 14 Apartments project,which is breaking ground today.
Located at the corner of 14th and Florida Ave., NW, View 14 isan $80 million mixed-use residential and retail complex with 185units and 34,000-sf of retail. There is a letter of intent from agym to take up about 25,000 sf of the retail, principal DavidFranco tells GlobeSt.com. The rest of the retail will be divvied upbetween a restaurant and service-oriented shops, he explains. Thereare about six units in this project designated to be affordablehousing in View 14, which will deliver in 2009, he adds.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
