108-Unit Columbia Heights Project Gets Financing: The D.C. Deal Sheet

A surface parking lot in Columbia Heights is slated for a $100M affordable development as the result of a Tenant Opportunity to Purchase Act process. 

The NHP Foundation and Change All Souls Housing Corp. obtained financing to build Harvard Court Apartments, a 108-unit development planned at 1425 Harvard St. NW.

The DC Housing Finance Agency issued $48.3M in tax-exempt bonds and underwrote $34.9M in federal Low-Income Housing Tax Credit equity and $6.8M in local LIHTC equity for the project, it announced Friday. The team also received $24.3M from D.C.’s Housing Production Trust Fund. 

The project is being built on the surface parking lot of the Columbia Heights Village Apartments. The development team was selected by the residents of that building through the TOPA process when their property was offered for sale. 

Units will be restricted to residents making up to 30% and 50% of the area median income. The development will also feature a community room, management office and fitness room. 

“Bringing new affordable housing to Columbia Heights is about more than building units — it’s about protecting the diversity and vitality that give this neighborhood its soul,” DCHFA CEO Christopher Donald said in the release. “By guaranteeing long-term affordability we’re ensuring that families across income levels can continue to thrive here for generations.”

LEASES

Law firm Burr & Forman is opening its first D.C. office at 99 M St. SE in Navy Yard. The firm is taking 12K SF at the 234K SF at the 234K SF property developed by Skanska and sold in 2020 to Polinger Development Co. Lincoln Property Co.’s Adam Biberaj, Doug McLearn and Tim Whitebread represented the landlord. Cushman & Wakefield’s Mark Richardson represented the tenant in the deal, which closed last week. The building, developed in 2018, is more than 90% leased, according to Lincoln Property Co. 

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Nuclear energy company X-energy is moving its headquarters from Rockville to Gaithersburg and expanding in the process. The company, which is backed by Amazon, inked a 120K SF lease at Prime US REIT’s 9801 Washington Blvd. That represents an expansion from its 96K SF office at 530 Gaither Road. The move is expected to bring 525 new jobs over the next six years.

MILESTONES

The White House announced this week that it is undertaking a 90K SF expansion of the East Wing ballroom. A Thursday press release from the Trump administration says the White House is unable to host “major functions” without needing to uninstall a “large and unsightly tent approximately 100 yards away from the main building entrance.” Clark Construction and AECOM have been selected for the $200M project, which is expected to begin in September and be completed before President Donald Trump leaves office. 

SALES

MHP has added a 250-unit senior affordable housing property in Rockville to its portfolio. The local nonprofit announced it acquired Bethany House at 199 Rollins Ave. and will preserve its long-term affordability, with units reserved for residents making up to 30%, 50% and 60% of the area median income. It said its funding partners include the Montgomery County Department of Housing and Community Affairs Nonprofit Preservation Fund. MHP’s portfolio now totals 3,250 units across the DMV.

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D.C.-based Horning acquired a 288-unit community in Hyattsville that it plans to turn into income-restricted housing. Jair Lynch was the seller of Plaza Towers at 6700 Belcrest Road, which it had purchased in 2021 for $65.8M, Maryland property records show. Horning declined to reveal the price it paid but said it was the largest multifamily acquisition by dollar value in Prince George’s County in two years and the developer’s largest acquisition in its nearly 70-year history.

PERSONNEL

Prologis is reshuffling its mid-Atlantic team with one hire and one promotion. The industrial REIT has promoted Danielle Schline to senior vice president and investment officer for the mid-Atlantic market. She was previously the market officer for the region. In her new role, she is leading acquisitions and capital deployment from Pennsylvania to Virginia. In her place, Emily Smith is coming in as market officer for the region. Smith is leading market leasing, operations and Prologis’ portfolio expansion strategy. She comes from Geico, where she was the senior director of real estate strategy, according to her LinkedIn page.

CORRECTION, AUG. 1, 3:45 P.M. ET: A previous version of this story misidentified the owner of 99 M St. SE It has been updated.