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Deanwood Development With Grocery Gets Green Bank’s First Predevelopment Loan

by Nena Perry-Brown

Rendering of Deanwood Station. Click to enlarge.

While this mixed-use Deanwood development didn't meet its crowdfunding minimum, it just won additional funding from an unlikely source. 

The DC Green Bank announced a $250,000 pre-development loan this morning for developer Medici Road to realize its by-right project at 4276 Sheriff Road NE (map). The development will include 13 condos for households earning up to 80% of area median income; co-working space; a headquarters for Medici Road; and 6,800 square feet of retail, including a 2,500 square-foot grocer. 

Existing site. Click to enlarge.

As designed by architect Michael Weincek, the 17,000 square-foot building would include a rooftop solar array and a means to recycle stormwater. It is projected that the solar power would save each resident $2,400 on electricity over 10 years, and the stormwater system would have a 9,000 gallon capacity for each weather event and would reduce soil erosion and pollution by 2-5%.

Medici Road has also received funding from Capital Impact Partners's loan fund; the developer expects to acquire building permits early next year.

See other articles related to: weincek, medici road, green bank, deanwood station, deanwood

This article originally published at http://dc.urbanturf.com/articles/blog/mixed-use-deanwood-development-gets-green-banks-first-predevelopment-loan/18720

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