Real Estate Developments

1164 Bladensburg Apartments

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Description

1164 Bladensburg Apartments is a new construction project by Neighborhood Development Company, The Ardent Company, and Tennyson Ventures. The project will deliver 65 affordable housing units when completed in Spring of 2019. The development team leveraged 4 percent tax credits from DCHFA (DC Housing Finance Agency) to support this project. The target audience are senior households earning up to 0-50 AMI. The total development cost is expected to be $23,000,000. The tax credit syndicator on this deal was Enterprise Community Investment, and the Investor/Construction debt provider was JP Morgan Chase.

Project Details

Type

Residential Development

Status

In Progress

Address

1164 Bladensburg Road NE

City

Washington

State

DC

Zipcode

20002

Construction

New Development

Expected Completion Date

2019

Developer(s):

Neighborhood Development Company

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Financier(s):
JPMorgan Chase & Co
Enterprise Community Investment Inc
D C HOUSING FINANCE AGENCY
Source(s):
Neighborhood Development Company
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Number of units for rent

65

Number of units for sale

0

Number of affordable housing units

65

LEED Designation

Project Cost

0

Parking Spaces

Zoning

Hotel Rooms

0

Retail Space

0

Office Space

0

Square Footage

60000

Lowest Housing Sales Price

0

Highest Housing Sales Price

0

Lowest Rent Price

0

Highest Rent Price

0

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Housing Rental Price Range:

Housing Sales Price Range:

# of Residential Units in Progress:

Hotels Rooms in Progress:

Office Space in Progress:

Retail Space in Progress:

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          Project Financier(s):

          JPMorgan Chase & Co
          Enterprise Community Investment Inc
          D C HOUSING FINANCE AGENCY

          Sources:

          Neighborhood Development Company

          LIHTC Amount:

          $6,900,000.00

          Contact Us
          Office Location
          • Washington, DC-HQ
            1440 G Street, NW 8th Fl
            Washington, DC 20005
            Phone: 202-788-0407
          • New York, NY
            28 Liberty Street, 6th Fl
            New York, NY 10005
            Phone: 929-383-5327
          • Long Beach, CA
            3750 Schaufele Avenue
            Long Beach, CA 90808
            Phone: 562-337-3044
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          About Areaprobe

          AreaProbe is a research and advisory firm focused on housing and commercial real estate development in urban communities. Our proprietary tech platform reduces turnaround time on research and analysis projects for developers by an average of 75% relative to the market. We combine that efficient, data-backed analysis with an understanding of how different cultural groups interact with the real estate market, and what it means for developers, investors, and financiers. We also facilitate access to capital and project management services from the network we've built during more than four decades of collective experience in real estate development, finance, design and urban planning.