Client: Capital Manor Tenant Association
Location: 1436-1444 W Street NW | Washington, DC
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.
JAIR LYNCH, in addition to having its offices on U Street, has been active in this area since the company’s inception in 1998. Whether as a developer of historic community centers like Center for Community Change and the Thurgood Marshall Center; multifamily housing like Barcelona, Verona Parc or Solea condominiums; affordable housing like Capital Manor Cooperative; or neighborhood assets like KIPP DC's WILL Academy, Bread for the City and Unity Health Care in Upper Cardozo, JAIR LYNCH has long been a neighborhood leader in MidCity Washington.