X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON, DC-The District has selected a development team led by the William C. Smith Co. and the Warrenton Group to build an $80-million housing development project along North Capitol Street. The project will be part of the District’s $700-million Northwest One New Community initiative, which has already delivered a $50-million development of the Walker Jones Education Campus this August.

In this second phase, the development team will build 313 new housing units, 30% of which will be affordable. Of the affordable 93 units, 59 will serve as replacement housing for residents of the former Temple Courts housing complex that was demolished last year.

The development team is expected to break ground at the site, which sits between M Street and Patterson St. in NoMA, in mid-2010. The project is expected to deliver in 2012.

Financing for the project will be a mix of subsidy, proceeds from an upcoming bond sale for New Communities as well as the land value, District spokesman Sean Madigan tells GlobeSt.com. The District “is still negotiating what the final amount of the bond sale will be; we’ll have a better idea of that in the next six months.” A ballpark estimate, though, he says, is $10 million.

The Northwest One New Community project will ultimately include new retail, community services, and 1,600 new units of housing. The 100,000-square-foot, K-8 Walker Jones school was the first new school construction project completed by the Fenty Administration and the District’s first combined school, recreation and library facility.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS SPRING 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.