(Read more on the multifamily market.)

WASHINGTON, DC-The District has selected three companies to develop a $32-million affordable housing mixed-use project in the Shaw neighborhood here: Metamorphosis Development Group, Metro Partners and Sunrise Development Corp. The three won the mandate to partner with the city to build out so-called parcel 42, a plot of District-owned land on the corner of Seventh Street and Rhode Island Avenue.

The developers’ proposal calls for 112 apartments to be rented to residents earning less than 60% of the Area’s Medium Income, or $90,000 for a family of four. The project will also include 8,000 sf of retail space, 64 underground parking spaces and a 4,800-sf community facility.

The next step for the project is the negotiation of an Exclusive Rights Agreement with the development team. That will take approximately 90 days. The project is slated to break ground in summer 2009.

Mayor Adrian M. Fenty announced earlier this week that the city plans to preserve at least 500 units of affordable housing in the Columbia Heights, Brightwood, Deanwood Heights and Washington Highlands neighborhoods. The Shaw, though, is another area within the city limits that has become increasingly out of reach financially for many residents. “There is a huge demand in Shaw–like many neighborhoods across the District–for affordable housing and this project helps meet the community’s needs,” Fenty says.

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