PROJECT DETAILS:
Client: Capital Manor Tenant Association
Location: 1436-1444 W Street NW
Type: Residential
Target Area: MidCity
Cost: $11.7 million
Size: 102,000 SF
JAIR LYNCH Development Partners served as the development manager of Capital Manor Cooperative after its residents purchased the building through the District of Columbia's Tenant Opportunity to Purchase Act. The development team, which included Manna Inc. and The Harrison Institute, assisted residents with what the Washington Post called "the purchase of a lifetime." JAIR LYNCH structured the deal using layered public and private financing from the District's Department of Housing & Community Development, the U.S. Department of Housing & Urban Development and the National Coop Bank to purchase and renovate the buildings. By repositioning the rental community into an affordable cooperative, JAIR LYNCH helped preserve these affordable units in one of the city's most rapidly gentrifying neighborhoods. The project was completed in 2005.
What's nearby?
JAIR LYNCH, whose offices are on U Street, has been active in this area since the company's inception in 1998. Whether as a re-developer of historic places like the Thurgood Marshall Center and the Center for Community Change, or as a provider of multifamily housing like Barcelona and Verona Parc condominiums, JAIR LYNCH has long been committed to MidCity Washington. Currently under construction on 14th & Florida is Solea, Washington's first professional live/work community.
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