DCHA Aims To Close Deal For Long-Delayed, 1,200-Unit NoMa Development This Year
DCHA Executive Director Tyrone Garrett told the D.C. Council Wednesday that he expects to close on the deal with the agency's development partners this fall, paving the way for the 1,200-unit project at 1133 North Capitol St. NE to begin construction, the Washington Business Journal Reports.
The agency is partnering with a development team consisting of MRP Realty, CSG Urban Partners and Taylor Adams Associates.
The DCHA board in December 2019 voted in favor of a deal for the development team to ground lease the site from the agency. Garrett said the deal's price tag has grown from $67M to $90M, the WBJ reported.
The deal's closing would come more than six years after the agency selected the development team in November 2014. The project has been delayed because of issues over the percentage of the project that would be set aside as affordable housing.
The 1,200-unit project is currently planned to include 244 affordable units, up from a previous plan for 200, Garrett told the council. He said at least half of those units would be reserved for renters making 30% of the area median income or less, with the remaining set aside for 60% AMI or less.
Multiple council members, including Committee on Housing and Executive Administration chairperson Anita Bonds, pushed Garrett to include more than the planned 244 affordable units, the WBJ reported.
The project would be the latest in a massive wave of multifamily development in NoMa, which has added thousands of new housing units over the last decade. It would also help revitalize North Capitol Street, a corridor with many vacant and underdeveloped blocks that local officials and advocates have sought to improve.