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LEANING ON AFFORDABLE

WASHINGTON DC 05.08.2017

MONTGOMERY COUNTY STATE OF THE MARKET

Featuring an Interview of Marriott CEO Arne Sorenson

Arne Sorenson -- Marriott International
Mike Gill -- The State of Maryland
Barry Glassman -- Glassman Wealth Services
LEANING ON AFFORDABLE
Lettire president Nick Lettire
In a few weeks, we’ll witness the groundbreaking of the block-long, 227-unit Via Verde affordable housing development on E. 156th St. in the Bronx, one of the few residential projects striving for LEED Platinum. Part of the team includes Lettire Construction. With development arm Urban Builders Collaborative, it’s behind some of the largest affordable and sustainable projects in the city. We sat down with prez Nick Lettire, who tells us that the firm is looking in emerging, lower-income neighborhoods like East New York and Mount Vernon to build even more much-needed affordable housing.
Via Verde
Besides Via Verde (above), other Lettire projects include Tapestry, a 185-unit LEED Gold mixed-use property (50% market, 30% middle-income, 20% low-income) on E. 124th St., which will be ready for marketing in March. Another is Fortune Society, a 114-unit LEED Gold transitional housing property at 625 W. 140th, which is 75% finished. All three projects include team member Jonathan Rose Cos; Lettire also partners with non-profits, such as Phipps Houses, and works closely with government agencies for the units it develops. Before the groundbreaking, Nick is traveling to Mystique for his wife’s birthday—hopefully the water’s fine for the avid fisher.