NDC, Mi Casa Secure Capital for Residential, Retail Project
Posted January 2, 2012
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WASHINGTON, D.C. - Construction will begin in January on the Heights on Georgia Avenue, a 95,000-square-foot residential building with 69 apartments and 10,000 square feet of street-level neighborhood retail.
The Neighborhood Development Co. (NDC) and co-developer Mi Casa Inc. have secured construction financing as the green light for work to begin on the 3232 Georgia Ave. development site. The design teams traditional architecture with contemporary elements. The unit mix contains one-, two- and three-bedroom floor plans. Grimm + Partners Architects designed the Heights. Dantes Partners is the developers' financial consultant; Klein Hornig LLP and Holland & Knight LLP served as legal counsel; and Answer Title provided closing services. Hamel Builders Inc. is the project's general contractor.
The developers' financial partners are the District of Columbia Housing Finance Agency, District of Columbia's Department of Housing and Community Development, Deputy Mayor's office for Planning and Economic Development), Citi Community Capital, Wells Fargo Affordable Housing Community Development Corp. and Enterprise Community Loan Fund.
"NDC is proud of the role we have played in the revitalization of the Georgia Avenue corridor, and The Heights is a shining example of what can be accomplished when the private sector works hand in hand with the community and the District government to move neighborhoods forward," said Adrian Washington, founder and principal of NDC.
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