The D.C. Housing Authority has sold its headquarters site on North Capitol Street NE, clearing the way for developers who plan hundreds of apartments, many of them affordable units, including deeply affordable units for DCHA residents.
Ares Management Corporation and MRP Realty have closed on the land and say Phase 1 construction on the mixed-income residential development is set to begin immediately.
Phase 1 will include 430 apartments, 86 of which will meet the District鈥檚 threshold for affordable, 43 of those for Housing Authority residents. The site, at 1133 North Capitol, is two blocks from the NoMa Metro station.
Phase 1 is expected to be completed sometime in 2024.
The project is a joint venture between Ares, MRP, CSG Urban Partners and Taylor Adams Associates. It is being financed by Arkansas-based Bank OZK.
DCHA will use proceeds from the site鈥檚 sale to fund its new headquarters.
The multiphase development will eventually include 1,200 apartments, with聽at least half of the affordable units set aside for residents earning 30% of the median family income or less.
DCHA鈥檚 headquarters will move to the new Washington Metropolitan Area Transit Authority鈥檚 headquarters building at 300 7th St. SW, occupying 52,000 square feet with a 12-year lease. Its Office of Public Safety will move to Douglas Development鈥檚 office building at 515 New York Ave.
