Thayer Avenue Condos Reborn as Subsidized Housing

The long-moribund Silver Spring condo project at 814 Thayer Avenue, the former site of the National Association of the Deaf (NAD), has been reconceptualized by a new developer as an affordable housing complex.

The amended site plan was recommended for approval by Montgomery County planners earlier this month.  While the amount of public space has remained the same, at just over 40,000 s.f., new developer Landex Companies has dramatically upped the percentage of affordable housing units, in order to qualify for affordable housing tax credits.

"Before, the project had only allocated seven units [out of a total 52] as affordable," says Elza Hisel-McCoy, Program Manager at the Maryland-National Capital Park and Planning Commission. "Which was the minimum allowed.  Now they've upped that to forty-two units."  The remaining twenty percent of units will be rented at unrestricted market rates.

Architect Wiencek + Associates has also made significant improvements to the overall design, at least in Hizel-McCoy's opinion.  "Before, it was a scissoring facade, alternating floors so the building had a prow," says Hizel-McCoy.  "But now it's a triangle.  There's a single triangular area along the sidewalk - they've come up with a design that integrates the sidewalk and public space much more seamlessly than the previous design."

Landex acquired the 0.64-acre Thayer Avenue property on contract from the previous developer, 814 Thayer LLC (which was a joint venture between Banneker Ventures and Four Points, LLC) 18 months ago, according to Peter Siegel, CEO at Landex.

"We're hoping to close in August on construction financing," confirms Siegel.  "So we'd start construction in late August, with completion taking 12-14 months."

Maryland-based Landex Companies specializes in mixed-income developments, and manages over two dozen properties in Maryland.

UPDATE:  This project is a joint venture between Landex Companies and the Warrenton Group.


Silver Spring Maryland real estate development news

Read More

Strand Theater Redevelopment Moves Forward with Zoning Approval

Yesterday developers and architects presented their plans for the redevelopment of the historic Strand Theater and won unanimous approval from the BZA. The Board also granted several zoning variances, permitting developers to expand a historic landmark and a contributing historic structure, as well as an increase in the FAR and a reduction in the required parking. The Strand Theater and the adjacent contemporaneous building located from 5127-5131 Nannie Helen Burroughs Avenue, NE in Deanwood are being packaged together in a redevelopment plan that sees both structures stabilized, renovated, and facades restored to their original grandeur. The ground floor of the renovated buildings will feature new retail options, while the second floor will house small incubator office space for "small and local disadvantaged businesses out of the Ward 7 corridor." In 2008, the District originally awarded the property's development to Washington Metropolitan Community Development Corporation (WCDC) and Banneker Ventures, but WCDC cut their ties with Banneker shortly after their initial proposal, and have since partnered with the Warrenton Group. Serving as fee developer, Warrenton's Principle Warren Williams attended the hearing in support of the project, providing the Board with a brief summary of the proposed redevelopment.

Architectural duties have been assumed by local firm R. McGhee & Associates, and their design plans, in cooperation with guidelines set by the Historic Preservation Review Board (HPRB), will assist in restoring the historically significant architectural features of the Strand (such as the lengthy front awning and detailed cornice work) and its accompanying sister-building. An in-fill brick addition serving as the "building core" is also in the works, intended as a contemporary interpretation of what the Strand might look like if built with modern materials. The interiors will be extensively gutted and renovated to accommodate the ground floor retail space (likely featuring a restaurant or two) and “affordable” office space set to occupy the building upon completion. Principal Ronnie McGhee, who was recently appointed to the DC Board of Architecture and Interior Designers by Mayor Adrian Fenty, presented the architectural specifics to the BZA, and assured the Board that their plans had official approval from the HPRB and ANC7C. McGhee also promised that the iconic, the lighted Strand Theater sign, would be restored to the roof of the renovated building, bringing a welcome glow back to the area's skyline at night.

In 2008 Mayor Fenty bragged that: "There will be more energy back on this corner for the neighbors who live in the Ward 7 community, east of the river in general and for the entire city." Unfortunately, that energy has remained bottled up in storage these past two years, as the property continues to sit vacant and derelict. The Holy Christian Missionary Baptist church across the street, calling the structures as the currently stand an "eye sore," is also excited about the re-ignited redevelopment plans. Reverend Steve Young testified before the Board in support of the project and offered up use of the church's parking lot to alleviate parking concerns, saying: "whatever is needed to accommodate the project we're willing to comply." Developers also cited several convenient bus-lines that may service future retail patrons as justification for a reduction in required parking. By way of community benefits, developers additionally promised that a dug-out basement level will provide space to be used as a community meeting center, and that newly planted trees will improve the streetscape in compliance with the Great Streets Initiative. It was also noted that the area is currently "starved of retail options." The Board agreed that this was a impressive and commendable project that offers a big first step in revitalization of the surrounding area, as well as thoughtful preservation of a historic landmark. While there is still no timeline for expected groundbreaking and subsequent construction, this Zoning approval activity is a positive sign that developers are moving forward with their plans. In the next step forward, developers and architects will seek the blessing of the National Park Service.

Washington D.C. Real Estate Development News

Read More

Yet Another Affordable Housing Project For Columbia Heights

The contract to design, develop, and build a 37-unit affordable housing project at 1421 Euclid Street, NW has been awarded to Euclid Community Partners, a triad consisting of Dantes Partners, Perdomo Group, and Capital Construction Enterprises. Developers and city officials say this $11.5 million Justice Park project will offset gentrification trends in the area, and help Ward One and Columbia Heights to remain a diverse and multi-dimensional community. The rental apartments will be marketed to those in the local workforce making no more than 60% of the Average Median Income (AMI). Mayor Fenty, Ward One Councilman Jim Graham, the Deputy Mayor of Planning and Economic Development (DMPED) Valerie Santos, and ANC1B Chairman Gail Holness were all in attendance to officially award the winning contract, and voice their support for the project. Other proposals competing for the contract offered mixed-income developments with only small portions designated as affordable housing units. Clearly affordable "workforce" housing was the priority of the Mayor and his staff, as he elaborated

on his delight at finalized contract, saying: "there was a lot of talk, scrutiny, and debate at city hall about this project ... but we are all glad that the talking has stopped, and the action has gotten back on track."

Questions were raised in the competitive bidding process for this project, but Dantes Parnters now has several opportunities to produce and prove their critics wrong, as principal Buwa Binitie and his company have become actively involved in the development of several other District-owned properties. Binitie and Dantes Partners are bearing the entire load of development responsibilities for the VIDA Senior Residences project at Brightwood and the 5-story, 44-unit residential building on Chapin Street. They have also partnered with EastBanc Inc. as regular favorite project-winners of the Fenty administration, sharing development of the long-neglected West End fire station, library, and police unit buildings, as well as the Hine School redevelopment.

The current 12,325 s.f. Justice Park will cease to be a place for public recreation and become home to construction equipment sometime in mid 2012. That is if the PUD application process or financing struggles don't slow down the project, a common story line for many other developments. In the meantime, a new Justice Park will be constructed across the street on a District owned plot of land that Fenty describes as "lower to the ground, closer to the street, and more accessible to kids, seniors, and families." In addition to the modern design, efficient appliances, class A amenities, front and rear balconies, and rooftop terrace being offered at the new building, Dantes Partners has also agreed to fund the yearly maintenance costs of the new park on the south-side of Euclid. Banneker Ventures, teaming with Regan Associates, will develop the park using a budget of $750,000, but have yet to contract an architectural firm for the design.

Fenty and Santos each stressed their "ongoing commitment" to affordable housing, a rebuttal to the criticism for lack of action on Parcel 42 and other vacant District lots that has angered some city residents, even inspiring protests. But as Councilman Graham's website brags, federal funding has been undoubtedly strong for "workforce" housing: 2,500 units of low-income housing have been preserved and renovated and $256 million of public and private funds have been spent on affordable housing in the last five years. While some detractors contend that affordable housing serves to concentrate poverty and devalue adjacent property, Jim Graham insisted that they were ensuring that "our firefighters, our librarians, our new teachers, and many others" have access to affordable housing. Dantes Partners has projected that their two-bedroom units will cost roughly $1,400 per month, significantly less than the average market rate condo.

The unveiled renderings look suprisingly derivative of the general style of the Villagio apartment building next door. In addressing the press and community members, Buwa was careful to thank the Villagio and its owners for their cooperation and support during this initial design process. For the future residents who aren't lucky enough to have a view of the new park from their balconies, they are at least afforded the next best thing: some quality people watching, looking down on the adjacent BP gas station (and who doesn't look down on BP these days).

The ANC expressed support for the design and the project, but Dantes Partners, along with PGN Architects, will work with the community, ANC, and Zoning Commission to further refine their drawings in the coming months. The developers will seek a nine percent tax break through the District Housing Finance Agency's Low Income Housing Tax Credit (LIHTC). And if that bid is rejected, the development team will be awarded a non-competitive four percent tax credit, and hope for an additional $4.1 million District subsidy.

Washington D.C. Real Estate Development News

Read More