President Carter Digs Ivy City

President Jimmy Carter is in town today, but far from his old residence, as he starts his latest project in the District's Ivy City neighborhood. With few developers choosing Ivy City for their next big apartment project, the District of Columbia took matters into its own hands in 2008 and awarded 4 non-profit developers the right to redevelop, with District help, a smattering of vacant properties in northeast DC. Mi Casa, Inc., Manna, Inc., MissionFirst, are all taking part, but none as visibly as DC Habitat for Humanity with its former president in the roster.

While Mi Casa began their project earlier this year, Habitat is renovating 8 duplexes along Providence Street, beginning today, with the hopes of building several dozen more over the next few years to serve families at less than 30% of the AMI. Habitat has sold 7 of the 12 homes - 6 new and 6 renovated - and future owners will begin working alongside the professional contractors to complete the requirement of "300 sweat equity hours" for each owner. Less ambitious homebuyers can enlist "friends and family" for 150 of those hours, so those with friends moving to Ivy City might want to avoid phone calls from those friends in the near future.

The District is subsidizing the various projects through DHCD’s Ivy City Special Demonstration Project, the District is subsidizing the acquisition price for each property, in a bid to help stabilize a neighborhood isolated from development money and new construction.

The octogenarian president is in town only for the day, moving on to Annapolis tomorrow to throw his own sweat equity into his next project.

Washington, DC Real Estate and Development News