Getting to Know 3451 Benning

Benning Market

Getting to Know 3451 Benning

At Neighborhood Development Company (NDC), we look for opportunities to benefit the community, invest in real estate projects that fill local needs and promote growth that creates a cycle of progress for underserved and under-recognized areas. As part of a larger development project, the Benning Market at 3451 Benning Road in Washington DC’s Ward 7 is a great example of this type of innovation with a community focus.

Meeting Unmet Community Needs

According to the USDA, more than 20 million Americans live in food deserts, many of whom are low income. “Food deserts” are places where residents have limited or no access to healthy food choices like fresh fruits and vegetables because of a lack of local grocery stores. This can lead to health implications as well as food insecurity. NDC found that the River Terrace neighborhood of NE Washington, in and around the 3400 block of Benning Road was one such location, where no large grocery stores were in reasonable access to the residents. The latest news clip on NBC reinforces these issues. The Benning Market is designed to bring healthy food to the community.

A Unique, Mixed Use Space

Benning Market will be more than a grocery store. Offering commercial, retail and office space, Benning Market will be a location that draws economic activity and investment into the neighborhood. Benning Market’s anchor enterprise is Market 7, a community marketplace founded and led by Mary Blackford, a Ward 7 resident, and entrepreneur. By developing sustainable commerce within the community, Market 7’s mission is to revitalize and restore the economic stability, holistic health, and social needs of the residents in Ward 7. Its core principles are to EAT sustainably sourced food options; SHOP in a creative marketplace that sells products, provides employment opportunities and engages the community; and LEARN by building a strong support system that equips local entrepreneurs to be innovative and profitable.

The Start of Something Big

In addition to Market 7 and the other businesses occupying 3451 Benning, NDC is bringing further development to the area. 3443 Benning is an 8,400 SF in-fill development that provides additional retail, commercial and office space to River Terrace, which is part of the Great Streets commercial revitalization initiative. In addition, 3450 Eads Street will be a 49-unit workforce housing development targeted to serve families. The development consists of an on-site manager’s office with a community room, and on-site parking. The building has been designed to achieve Passive Housing Institute U.S. certification. With other projects and a nearby network of parks lining the Anacostia River, the residence will be extremely attractive and serve the needs of the community.

NDC is so excited to be a part of the Minnesota Avenue location of the Great Streets DC Program. Through its innovative development strategy, NDC sees its role as improving the community through attractive public/private partnership investments that accomplish the important community, environmental and economic goals. To learn more about investing with NDC, contact us today.

Washington DC at night

NDC Delivers on the Triple Bottom Line For Investors

The investment goals of institutional investors and high net worth investors have shifted from exclusively financial considerations to a more expansive approach known as the Triple Bottom Line. This shift in priorities comes from the business world. The Harvard Business School Online explains:

The triple bottom line is a business concept that posits firms should commit to measuring their social and environmental impact—in addition to their financial performance—rather than solely focusing on generating profit, or the standard “bottom line.” It can be broken down into “three Ps”: profit, people, and the planet.

In the investment context, businesses that demonstrate a track record in ESG (Environmental Social Governance), deliver an enhanced return on the investment by furthering goals that are important to the investor. High net worth individuals want to make their money work for causes that matter to them, and institutional investors are fulfilling their own mandates and answering to constituencies that are calling for responsible investment strategies.

At the Neighborhood Development Company (NDC), we offer a Triple Bottom Line investment that is an excellent addition to a diverse portfolio. According to NDC CEO and Founder, Adrian G. Washington, “We are more than a real estate development company; we invest in the community and commit to socially and environmentally sustainable outcomes.” Here’s how NDC does it:

Profit

Washington, DC has always been one of the largest, stable and prolific economies in the U.S. with the Federal Government being the backbone of the local economy which gives D.C a disproportionate boost in a downturn. D.C Metro Area is fast on its way to become the tech hub of the east coast. The area is also a hub for biomedical research and biotechnology, anchored by the presence of the world’s largest research funders. All of these factors make real estate a dynamic, lucrative investment space for knowledgeable investors.

NDC focuses its development on designated Opportunity Zones that provide investors with tax incentives that add to the financial return. Through Public-Private partnerships, NDC removes a layer of risk due to the support and partial financial backing of local mission-driven DC agencies such as DHCD & LISC. Finally, the investment tracks each project timeline, which creates a foreseeable, moderate lock-in time for the investment. As a result, NDC has been able to establish a solid track record of meaningful financial returns for its investors.

People

Our projects aim to improve the existing community by offering opportunities for members of the community to continue to live, work, and contribute. We identify specific housing, retail, and commercial needs that will benefit the community at large and design projects that will enhance and improve the lives of residents.

Planet

Rated best green city, Washington D.C has the most LEED-certified space, which likely contributes to the city’s low carbon dioxide emission rates. NDC participates in this accomplishment by using leading-edge sustainable and environmental building techniques into every one of our projects.

NDC has a number of exciting opportunities for investors. Contact us today to learn more about our pipeline of upcoming investment opportunities.

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