WASHINGTON, DC—The partnership of Jonathan Rose Cos. and Somerset Development Co. has filed plans to replace the Portner Place public housing development with a mixed-use project.
The plans call for the four-story, 48-unit Section 8 housing complex to be razed and replaced with a two-winged building with ground floor retail, according to the Washington Business Journal.
Somerset, Jonathan Rose, New Community Partners and the Rose Green Cities Fund acquired Portner Place, which consists of three garden-style buildings, last September for $16.15 million. The new plan calls for 366 new affordable and market rate apartments.
In their joint planned-unit development filing with the D.C. Zoning Commission filed on May 23, Somerset and Jonathan Rose stated, “Redevelopment of the subject property will transform the existing Portner Place Apartment complex, which is in a deteriorated condition, into a mixed-income community that incorporates newly constructed affordable and market-rate housing into a single building.” See story in the Washington Business Journal.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
