Construction is underway on 169 units of affordable housing, representing the first phase of development at the 6.3-acre site known as Belmont Crossing Apartments
WASHINGTON, June 8, 2023 /PRNewswire-PRWeb/ -- Gilbane Development Company, in partnership with MED Developers, Equity Plus Manager LLC, and Housing Help Plus broke ground on the construction of Phase 1 at Barnaby & 7th, an affordable housing development with 169 units in the Washington Highlands neighborhood of Washington, D.C. Residents, project partners, local government officials and members of the community came together to celebrate the start of the four-story, 169-unit affordable housing project, which will provide modern living experiences for low-income households earning 30% and 50% of the Area Median Income (AMI).
The June 6th ceremony featured remarks from Interim Deputy Mayor Keith Anderson, Ward 8 Councilmember Trayon White, Christopher Donald of DC Housing Finance Agency (DCHFA), and Colleen Green of DC Department of Housing and Community Development (DHCD).
"The goal for all of us as we work together to make a difference for the people that live in this city is to be intentional. It is to be purposeful with the work that we are doing and not simply to build buildings but to deliver community in a place that people can live in homes that are beautiful, that are affordable, and that are healthy," said Christopher Donald, Executive Director/CEO of the DC Housing Finance Agency. "I'm grateful for Gilbane and my colleagues in the housing ecosystem for the opportunity to be intentional about building homes for the residents of Barnaby and 7th."
"As the demand for financing affordable housing in the District remains critical, we're excited to partner in projects like Barnaby & 7th" said DHCD Director Colleen Green. "This project takes a wholistic approach to the residents helping them to meet their life goals as they engage in community."
"We are thrilled to be a part of the Barnaby & 7th redevelopment. This project is an exciting opportunity to provide affordable housing to positively impact the lives of lower-income households in Washington, DC's Ward 8," said Robert V. Gilbane, Jr., senior vice president with Gilbane Development Company. "Our team is committed to developing a sustainable, modern community that supports economic growth and to improve the quality of life for all residents in the Washington Highlands neighborhood."
"We began this journey six years ago in partnership with the tenant association," noted Bruce Finland, managing director of MED Developers. A project of this magnitude and complexity only gets done with capable and committed partners. I can't say enough about Gilbane, EP, DHCD, DMPED, and DCHFA."
The Phase I project includes a mix of 1BR, 2BR, and 3BR units, with 10 to 12 Permanent Supportive Housing (PSH) units supported by the 34 Local Rent Supplement Program (LRSP) project-based rental assistance. On-site social services will be available for residents that need assistance in self-sufficiency, and to assist residents in retaining housing and improving their quality of life. The location is transit-friendly, and well-served by metro bus lines and major highways. In addition to the new affordable housing units, the Phase I project will also construct a public road to support municipal transit-oriented development policy and provide access to a below-grade parking garage with 58 parking spaces.
The Barnaby & 7th redevelopment Project is a three-phase new construction project which will construct 470 units and will preserve existing tenants.
Phase II will include four buildings comprised of 224 units of affordable housing (for households earning 30% AMI and 50% AMI). One building, consisting of 70 units, will be set aside as site-based permanent supportive housing (PSH) and will leverage DC's Local Rent Supplement Program (LRSP) project-based rental assistance.
Phase III will potentially include an additional 72-unit LIHTC rental project in townhouse style two-over-two units, or a 30–35-unit townhouse style homeownership project.
Project partners include the District of Columbia Housing Financing Agency (DCHFA), the DC Department of Housing and Community Development (DHCD), Redstone Equity Partners, JP Morgan Chase, PGN Architects, and Hamel Builders.
About Gilbane Development Company
Gilbane Development Company is the real estate development, financing, and ownership arm of Gilbane, Inc., a 150-year-old family-owned company. With over $8.5 billion in development and more than 20,000 units of housing completed/underway, Gilbane Development Company's projects incorporate every aspect of real estate including: multifamily housing (market rate apartments, student housing, and affordable housing); single-family residential communities; mixed-used developments; healthcare facilities; K-12 schools; government facilities; garage/parking areas; corporate headquarters; operational | data | distribution centers; R&D | manufacturing facilities; and, many types of facilities delivered through public-private partnerships. To learn more, visit http://www.gilbaneco.com/development.
About MED Developers
MED Developers is the area's leading developer of affordable and special needs housing. The company's focus on serving the underserved has produced housing for thousands of DC families exiting homelessness, youth transitioning from foster care, and all individuals dealing with mental health issues. http://www.meddevelopers.com
Stephanie Handfield, Gilbane Development Company, 401-456-5456, [email protected]
SOURCE Gilbane Development Company