The Arbor Brings Exciting Possibilities to Takoma

The Arbor Brings Exciting Possibilities to Takoma

The Neighborhood Development Company (NDC) takes great pleasure in the diversity of its portfolio, bringing mixed-use developments across Washington, DC, Metropolitan Area and beyond. We are excited to introduce a new plan for 218 Cedar Street, NW, The Arbor at Takoma. With an expected 8,400 square feet of office/retail space in addition to 36 condominiums, the Arbor will fill a high demand for housing in this middle- and upper- income community with a wonderful history and excellent reputation.

On the Northern tip of DC lies the neighborhood of Takoma, bordering with the city of Takoma Park, Maryland. The two communities are at once united and occasionally distinct, but they have a common history and flavor that makes this Metro-accessible location so ideal. Founded in the 1880s, by Benjamin F. Gilbert, Takoma Park stretched across the DC-MD border, and it was intended to be an accessible suburban area. The beautiful Victorian homes and shopping district drew the Seventh Day Adventists, who brought a tradition of vegetarian eating that is still reflected in some local restaurants. The two Takomas are known for strong community involvement, as well as a great selection of eateries, shops, and a beloved weekly farmer’s market.

The Arbor will be right across the street from the Takoma Metro station, and it continues NDC’s focus on mixed-use projects that fill existing needs in the community. Residents of these 36 condominiums will be able to take advantage of the office/retail space to live and dine, and they will be able to enjoy the private rooftop terrace views of this lovely community.

NDC is proud to offer projects such as the Arbor to investors, and it backs its beliefs with a record of management investment participation in 100% of the past and current developments. To learn more about investing in this special opportunity, contact Claudia Boire. For ownership opportunities, contact Urban Pace at thearbor@urbanpace.com or call 202-296-1208.

A Fund Offering Opportunities from the Ground Up

In conjunction with Mayor Bowser’s housing initiatives and her commitment to addressing the housing needs in Washington DC, the Neighborhood Development Company (NDC) has uniquely positioned itself to be a part of the solution to the DC housing supply crisis. Since 1999, NDC has identified neighborhoods with a combined need for community, housing, and commerce in which to develop mixed-use multifamily projects that fulfill NDC’s mission and focus of People, Planet, and Profit. With the launch of NDC Opportunistic Real Estate Fund I, LLC, NDC is making its proven model of success available to institutional and accredited investors.

NDC has been delivering excellence to communities and its investors for over 22 years. The focus begins with making a positive contribution to the community by offering affordable housing ownership or rental opportunities in development projects that also address underserved needs like medical or food deserts to better address the needs of these communities.  NDC’s sustainability and environmental commitment includes paying close attention to a variety of design elements that minimize long-term operational cost for renters and owners. NDC leverages its experience to manage cost and mitigate risk to investors with the goal of providing the maximum return. NDC’s confidence in its products is reflected in its commitment to always invest alongside its investors in every development project.

In keeping with NDC’s historical focus on mixed-income housing, the Fund will be meeting an urgent need. The current housing crisis in Washington DC has led to a decade-long government commitment to invest over $1 Billion to develop thousands of housing units, particularly in economically disadvantaged neighborhoods. With this in mind, NDC Opportunistic Real Estate Fund I, LLC, will raise and deploy $100 million over the next 2-3 years, and has already identified 3 seed development projects for its portfolio.

NDC is excited about the opportunity it is presenting with this Fund and how it will have a positive impact on the communities in which it develops. NDC Founder and CEO Adrian Washington believes that “Everyone deserves a beautiful place to come home to. Our goal is to benefit and improve the existing community, helping instead of displacing long-time residents through environmentally friendly and socially impactful development.”

NDC Opportunistic Real Estate Fund I, LLC’s diverse portfolio of investments will provide investors the opportunity to gain favorable returns in socially and environmentally responsible ways and allow them to report an investment that targets each of these issues.

To learn more about the Fund, we invite you to go to our website or contact Claudia Boire at CBoire@NeighborhoodDevelopment.com.

Disclaimer: The information contained herein is provided for informational and discussion purposes only and is not, and may not, be relied on in any manner as legal, tax or investment advice or as an offer to sell or solicitation an interest in the Fund.  This blog may contain statements regarding our intent, believe or current expectorations; actual results may vary in a materially positive or negative manner.

HAND IGNITE TALK: Equity in Action

NDC’s CEO and founder, Adrian Washington recently spoke on a panel that was part of the HAND 30th Anniversary Annual Meeting & Housing Expo. The panelists were from a range of stakeholders in the space, from CDFIs (Community Development Financial Institutions) to institutional and corporate investors. Addressing the topic of equity and inclusion in real estate development in the affordable housing sector, Adrian offered the perspective of a minority developer with decades of experience in the space.

A New Face at the Table

Asked about the challenges faced by minority developers, Adrian recalled his early days as a developer. Where non-minority developers might have a critical network of high net-worth friends and family to both invest in a project and make important introductions to other funding sources, Adrian noted that he did not have a legacy or other generational support since he was the first person in his family to take on this work. As he put it, “my friends and family believed in me, and they invested, but the checks were smaller, so we had a different experience scaling our work.”

Speaking more generally, the panelists agreed that investors of both debt and equity need to adjust their criteria when analyzing a new player, particularly a minority developer. When just starting out, the balance sheet of a developer won’t be as robust, so making this a litmus test can exclude the outsider, particularly when minority-owned. Adrian noted that, where debt is a more factual assessment, equity investment has a certain “gut” component, and this is where unstated or unconscious bias can work against the minority developer.

Mentorship is Critical

While there is little doubt about an attractive risk-to-return ratio when it comes to reinvesting in a marginalized community, learning the ropes of being a developer in this space includes an important learning curve. Mentorship from those who have been through multiple development projects and cycles makes a huge difference. Adrian related his own experience of being invited to the table for public/private partnerships, and other important opportunities to observe and learn the ropes of the business: “In the early days, the public investment process gave me a chance to gain critical experience. It also exposed me to projects that I couldn’t undertake at the time, but I could take note and incorporate the lessons learned into the NDC long-term business plan.”

Adrian is a success story that demonstrates that minority-owned developers like NDC can succeed. Another panelist noted that the communities deserve to see themselves reflected in the faces of the developers. “DEI should happen before you even break ground so that the community can have confidence in the development project,” said Adrian. NDC continues to be committed and enthusiastic about revitalizing marginalized and under served communities through strategic development. With Adrian at the helm, NDC is breaking barriers on multiple fronts.

For more information about investor opportunities with NDC, contact us today.

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.

Adrian Washington

Washington Business Journal: Adrian Washington Executive Profile

“Adrian Washington remembers riding his bike past the St. Elizabeths East campus as a kid. These days, he’s helping to build its future. Washington’s Neighborhood Development Co. is the latest developer to score the chance to build on the massive Southeast D.C. property, winning the right to develop a 421-unit mixed-use building near the Entertainment and Sports Arena. That would be a big opportunity for just about any developer in the city, but it feels especially meaningful for Washington…”

Read WBJ Article Here 

 

 

 

Adrian Washington

Eve Picker Podcast: Impact Real Estate Investing

Check out Eve Picker’s podcast on Impact Real Estate Investing with her guest, Adrian Washington. Learn more about NDC and their innovative approach to project development and community support.

Channel 3

Working Together During Crisis

Watch Adrian’s interview with LaTrice Currie from WRCB-TV Chattanooga, an NBC affiliate, as he stresses the importance of working together during this crisis.  

 

home-icon-silhouette remove-button instagram twitter linkedin phone-call profits plus building-front calendar-with-spring-binder-and-date-blocks horizontal-resize-option refresh-page-option sitemap
Please fill the following form: