WASHINGTON, DC—District officials, including Mayor Muriel Bowser, were on hand for the official groundbreaking for the Girard Street Senior Apartments project in Brookland.
The development at 1545 Girard St. will feature 25 luxury affordable apartment units for seniors aged 55 and older. The total development cost for the project being built by Girard Street Community Partners, a joint venture of local developers Menkiti Group and Dantes Partners, is $11 million.
"We have to invest in inclusive neighborhoods in DC," said Mayor Bowser at the July 2nd groundbreaking event.
The project is being financed through a combination of 9% LIHTC, Department of Housing and Community Development gap financing, and private first trust debt. The development includes local rental supplement program funds for 100% of the units. Out-of-pocket rent for residents will be 30% of their income, the developer states.
Girard Street Senior Apartments will be the fifth joint-development by Dantes Partners and The Menkiti Group, which have previously co-developed The Metropolitan Overlook Condominium in Eckington and the Justice Park Apartments in Columbia Heights.
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