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WASHINGTON, DC -- March 09, 2009 -- The Neighborhood Development Company (NDC) announces the completion of "The Residences at Georgia Avenue." The Residences is a 72 unit 100% affordable rental housing building that is located at 4100 Georgia Avenue, N.W. in Washington, DC. This striking new 94,000 square foot modern designed building contains 36 one bedroom units and 36 two bedroom units. The project came to fruition due to the collective efforts of many parties. Financial partners for the project were the District of Columbia Housing Finance Agency (DCHFA), the District of Columbia's Department of Housing and Community Development (DHCD), Wachovia Affordable Housing Community Development Corporation and MMA Financial.
Adrian Washington, Founder and Principal of NDC, said: "NDC is proud of the role we have played in the revitalization of the Georgia Avenue corridor, and The Residences is a shining example of what can be accomplished when the private sector works hand in hand with the community and the District government to move neighborhoods forward."
In addition to bringing new affordable housing to the community, the first floor of the building will contain a 10,000 square foot Yes! Organic Market grocery store (http://www.livingnaturally.com/, )which will bring new convenient and healthy shopping alternatives to the Petworth community.
A Ribbon Cutting ceremony will take place on March 31, 2009 at 10:30 am. District of Columbia Mayor Adrian Fenty and District Ward 4 Councilmember Muriel Bowser are special invited guests and have confirmed their plans for attendance.
Leasing and management services are being provided by NDC Real Estate Management http://www.ndcrealestate.com/ (no relation to NDC). The architect for the project is Wiencek + Associates (http://www.wiencek-associates.com/) and the General Contractor was Hamel Builder, Inc. (http://www.hamelbuilders.com/)
About the Company
The Neighborhood Development Company (NDC) http://www.neighborhooddevelopment.com/ is a unique real estate development company that focuses on the revitalization of emerging urban neighborhoods. The company's mission is to create exciting residential and commercial properties that advance the revitalization of urban neighborhoods while respecting the rich diversity of their existing fabric. Founded in 1999, the company has completed the development of over 325,000 square feet of real estate, with another 170,000 square feet underway, and is a joint venture participant in other projects representing nearly $2 billion in investment.
NDC has led the revitalization of the District's vital Georgia Avenue corridor, with over 400 housing units constructed or under development in this area. NDC has received numerous awards and has been recognized in numerous national and local publications and is a member of Black Enterprises' "BE 100" listing of the nation's top Industrial and Service companies. Recently, the company announced its most ambitious project, a proposal to the District to revitalize Georgia Avenue's Park Morton public housing project.
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