Real Estate Developments

Capitol Gateway Marketplace

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Description

A&R Development Corporation will develop 312 affordable housing rental units in addition to a 135,000 SF Wal-Mart super center. The $78 million project known as Capitol Gateway Marketplace is located within a short distance from the Capitol Heights Metro Station. 281 units will be reserved for households making 60 percent or below AMI, 16 units will be designated for households making 50 percent or below, and 15 units will be designated for households making 30 percent or below. 

According to the Washington Business Journal, "the sources of funds include $33 million in short-term D.C. Housing Finance Authority bonds, a $13 million long-term D.C. Housing and Community Development loan, a $1.6 million DCHA loan, $29 million in private equity raised through the syndication of low-income housing tax credits and $5.4 million in deferred developer fee, according to documents recently submitted to the D.C. Council."


Amenities & Features
  • Fitness Center
  • Yoga Studio
  • Cyber Lounge
  • Club Room
  • Two Courtyard Spaces



Project Details

Type

Mixed-Use

Status

In Progress

Address

5850 East Capitol St NE

City

Washington

State

DC

Zipcode

20019

Construction

New Development

Start Date

March 2015

Expected Completion Date

2016

Developer(s):

A&R Development
General Contractor(s):
Clark Builders Group

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Financier(s):
DC Department of Housing and Community Development
District of Columbia Housing Finance Agency
AGM Financial Services Inc
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More on This Project and Neighborhood...

Number of units for rent

312

Number of units for sale

0

Number of affordable housing units

312

LEED Designation

LEED Certified

Project Cost

0

Parking Spaces

Zoning

C-2-A

Hotel Rooms

0

Retail Space

167000

Office Space

0

Square Footage

0

Lowest Housing Sales Price

0

Highest Housing Sales Price

0

Lowest Rent Price

0

Highest Rent Price

0

Neighborhood:

Capitol View,Grant Park,Northeast Washington

Housing Rental Price Range:

Housing Sales Price Range:

# of Residential Units in Progress:

312

Hotels Rooms in Progress:

0

Office Space in Progress:

0

Retail Space in Progress:

167000

Closest Metro Station:

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    Closest Grocery Store within 1 mile:

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      Closest License Daycare:

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        Closest Hospital/Health Clinic:

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          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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