Bisnow recently sat down with our CEO Bo Menkiti and new team member Emeka Moneme to discuss the Menkiti Group’s upcoming projects and partnership with LISC to launch a $100M Opportunity Zone Fund.
Our $100M opportunity zone fund is targeted to Opportunity Zones in areas where we are currently developing projects. A portion of the fund will be used to help finance MLK Gateway project in Historic Anacostia. Additionally, we will be targeting development OZ funds for projects in Worcester Massachusetts, specifically in the Theater District.
“We as a company are in a place where we are growing and have lots of opportunities, and we thought it was time to make capital a part of our platform.” -Bo
Our team is taking a holistic approach based on controlling more property in one area rather than hyper focusing on one project. In the article Bo explains, “What we’ve done is zeroed in on hyper local neighborhoods and said ‘Let’s take these four or five blocks, instead of looking at one project, and try to control a critical mass of real estate in that neighborhood.”
To learn more about the Menkiti Group’s Capital Funds initiative click here.
Curbed DC featured an article on our proposed development plans for the MLK Gateway project in Historic Anacostia. The Menkiti Group has partnered with Enlightened, Inc. to form MLK Gateway Community Partners (MGCP, LLC), creating a 100% minority-owned, local District-based entity to redevelop the site.
HERE is an overview of with more details on our proposed project.
The riverside neighborhood of Anacostia and its surrounding East of the River communities are known for their strong sense of community and rich history, and it is our vision that our proposed development project will serve as a catalyst for a thriving, diverse, and economically vibrant commercial corridor.
CurbedDC reported: “There are two finalists for the Request for Proposals (RFP) for Anacostia’s MLK Gateway, which was introduced during the Office of the Deputy Mayor for Planning and Economic Development’s (DMPED) March Madness event. This “Gateway” is located at 1201-1215 Good Hope Road SE and 1909 Martin Luther King Jr. Avenue SE with plans for small to medium scaled commercial and mixed-use developments.”
Read the full article for more insight into our proposal to build on the inherent assets of the Anacostia neighborhood to create a dynamic mixed-use destination for retail, arts, innovation, and commerce for this important project.