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.
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.
This article originally published at https://dc.urbanturf.com/articles/blog/mixed-use-deanwood-development-gets-green-banks-first-predevelopment-loan/18720.
Most Popular... This Week • Last 30 Days • Ever
The change would allow for an 80-acre portion of DC's 272-acre Armed Forces Retiremen... read »
The Capitol Hill home has been listed for sale that has a number of serious security ... read »
The new residential project adds to a growing pipeline of development on the boards i... read »
Today, UrbanTurf looks at what we think will be the metrics that will determine the d... read »
Located in the heart of Shaw, Intersect at O includes five elevator townhomes. The fi... read »
With interest rates reaching their highest levels in 22 years, it is critically impor... read »
Long-term interest rates are at their highest level in decades, but a new forecast pr... read »
The Church of the Epiphany has filed plans with the city to demolish the rear portion... read »
Just before the holiday, UrbanTurf is taking its semi-annual look at the neighborhood... read »
Plans have been filed with DC's Historic Preservation Office to convert the building ... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro