WASHINGTON, DC—MRP Realty and FloridaRock Properties have secured a $65 millionconstruction loan provided by First Niagara'sCommercial Real Estate Group for the development of amixed-used residential building on the AnacostiaWaterfront. Yvonne Ulrich, vice presidentof the Plymouth Meeting, PA-based lending group, managed thetransaction for First Niagara.
The 305-unit project, which will have ground floor retail andunderground parking, is expected to deliver in September 2016.Called The Riverfront, the project is locatedalong the Anacostia Waterfront, across the street from NationalsPark and within two blocks of the U.S. Department of Transportationand the Navy Yard.
It is one of many projects underway or proposed for this DCsubmarket. Last month Cohen Siegel Investors submitted plans to the District's ZoningCommission for the first phase of its plannedmultifamily development in the Capitol Riverfront BusinessDistrict, to cite one example.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
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.
