Are you new to the home buying process? Have you missed out on great home buying or investment opportunities? Whether you are a First Time Home Buyer, Investor or Seasoned Home Buyer, allow us to help you achieve your home buying goals in 2020.
Join us Saturday, January 25th from 10:00 am to 12:00 pmat
The Menkiti Group | 3401 8th Street NE | Washington | DC 20017.
Learn or refresh yourself on the home buying process for 2020. Hosted by Daniel Walcott, our MG Residential Buyer Specialist, that’s well versed in the home buying process and creating an overall unique real estate experience for his clients.
You’ll also have the opportunity to talk to one of our partnered lending experts, Brian Washington, Senior Loan Officer of PrimeLending, and Katie Griffin, Attorney of KVS Title, about financing potential home or investment opportunities in the 2020 housing market.
MLK Gateway to serve as a new epicenter of commerce, culture and technology with a vibrant mix of neighborhood-serving retail
by. Maya Nadeem | Maya@menkitigroup.com
D.C.) – The Menkiti Group was
joined by Mayor Muriel Bowser and city officials Wednesday to celebrate the
groundbreaking of the first phase of the MLK Gateway, a project being developed
by The Menkiti Group and Enlightened Inc. in partnership as MLK Gateway
Partners LLC (MGP). Located at the corner of Good
Hope Road and Martin Luther King Jr. Avenue SE, MLK Gateway will become a
catalytic center of commerce, driving economic opportunity in the heart of
are excited about returning Good Hope Road and MLK to the center of commerce in
historic Anacostia. We believe this project is an innovative example of
community-led participative development and serves as a model for how the public
and private sectors can collaborate to drive neighborhood impact,” said
Bo Menkiti, founder and chief executive officer, The Menkiti Group.
Phase One of the project includes a mix of uses and features the restoration of 14,000 square feet of ground-floor retail as well as 20,000 square feet of newly built office space. The project is anchored by Enlightened Inc., award-winning minority-owned information technology and cybersecurity firm that will relocate its nearly 150 district-based employees to a new headquarters at MLK Gateway. The building’s design embraces and incorporates the site’s existing historic facades and is a rich backdrop for new vibrant street-fronting retail.
“We are proud to be a part of the MLK Gateway Partners and to be a change agent for tech innovation, job creation and economic development for small businesses in Anacostia and beyond,” said Antwanye Ford, president, and chief executive officer, Enlightened Inc.
Phase Two of the project will include the construction of a new building at 1909-1913 Martin Luther King Jr. Ave. SE with street-level retail and multistory office space above.
“Today, we are continuing the transformation of this historic neighborhood by revitalizing the gateway of the Anacostia business area,” said Mayor Bowser. “My Administration never gave up on this project because we know it will help us bring jobs, housing, and new amenities to Ward 8. We thank all of our community and private sector partners for making this project a reality.”
Menkiti Group’s engagement around the community’s vision for equitable and sustainable
economic development began over four years ago. Through meetings with dozens of
community groups, The Menkiti Group was able to gain a greater understanding of
the assets and needs of neighborhood residents and business owners. The
long-standing vacant site houses two lots and four storefronts that will
transform into retail, restaurant and incubator space to support local small
businesses. Neighborhood-serving retail will provide a vibrant tenant mix and activate
the site for the greater part of the day as well as provide jobs and pathways
to opportunity for Ward 8 residents and businesses.
“MLK Gateway demonstrates what we can deliver when the public and private sectors work together to make big, strategic investments and use new tools like Opportunity Zones to support existing communities,” said John Falcicchio, interim deputy mayor for Planning and Economic Development.
“We look forward to bringing this historic corner of the Anacostia business center back to life again.”
Gateway is a model for public and private collaboration with partners including
The Menkiti Group, Enlightened Inc., the Office of the Deputy Mayor for
Planning and Economic Development (DMPED), the Department of Housing and
Community Development (DHCD), the Local Initiatives Support Corporation (LISC),
PNC Bank, RMS Investment Group and City First Bank of DC.
The project was financed using a combination of $4.25 million in
New Market Tax Credits and $3.3 million in Opportunity Zone funding, grant
funding and senior debt. The Project is the first in the country to deploy a
combination of both Opportunity Zone funding and New Market Tax Credit. The
project also received a $700,000 grant from DMPED’s Neighborhood Prosperity
Fund. Hickok Cole is the project architect and Consigli Construction Co., Inc. will
serve as the general contractor.
The MLK Gateway project will stimulate sustainable economic
impact in Ward 8. Enlightened Inc. will become the largest private technology
employer to move east of the Anacostia River in four decades, further accelerating
job growth in Historic Anacostia. Enlightened Inc. also plans to launch a
technology incubator to groom growing tech firms to do business with the
federal government and will run a cybersecurity training program to enable
local residents to gain marketable information technology skills. MLK Gateway
will be developed and owned by a 100% DC-based local minority-owned Certified
Business Enterprise (CBE) team comprised of The Menkiti Group and Enlightened
MLK Gateway project is an example of what is possible when residents, the D.C.
government and the private sector come together,” said
Ward 5 Councilmember Kenyan McDuffie. “This project will not just revitalize
this prominent intersection and gateway to Historic Anacostia, it will bring
jobs with a new technology company, Enlightened Inc., and a small business
incubator to provide training and expand residents’ access to greater economic
Menkiti and The Menkiti Group were joined at Wednesday’s groundbreaking by
Enlightened Inc. President and CEO Antwanye Ford, Mayor Muriel Bowser, Ward 8
Councilmember Trayon White, Ward 5 Councilmember Kenyan McDuffie, Deputy Mayor
for Planning and Economic Development John Falcicchio and community members as
well as representatives and partners of the project.
is in our company’s DNA to pursue our commitment to enhancing the fabric of
life in America’s urban communities. We are honored to be standing today with
others that share a similar commitment as we break ground on this project that brings
to life the community’s vision for the future of the Anacostia neighborhood,” said
Reported on January 8th, 2020 | by Maya Nadeem | Contact 202.733.5456
The reason we’re on the Washingtonian list of Top Agents once again? It’s our incredible clients! We are so thankful to every one of them, from first-time home buyers, to repeat clients that entrust us to help them find their 2nd or 3rd home, or the right investment property. We are grateful for their business – and appreciate each referral or inquiry sent our way.
Being in the Top 1% of agents nationwide holds us to the highest standards, which means we’ve got to have the knowledge and experience that our clients need and trust. Since 2004 we’ve completed over $1.1 billion in sales, and we’ve assisted over 2,500 families purchase homes, including 1,100 first-time home buyers.
Guided by in-depth knowledge to evaluate, prepare, price, and showcase properties, we get top results for our clients. With more than 175 new construction units sold, we are also go-to experts for many developers and investors.
We are also pleased to share the news that six of our KWCP Agent Entrepreneur colleagues are included on the Top 100 Best Realtors List. This exclusive designation is reserved for real estate professionals recognized for their outstanding performance, their market knowledge, integrity, communication skills, and closing preparation as acknowledged by their peers and more than 25,000 Washingtonian magazine subscribers.
Congratulations to these outstanding agents we are so fortunate to work with!
Harrison Beacher Marjorie Dick Stuart Joel Nelson Veronica Seva-Gonzalez Martin Signore Theresa Taylor
The award-winning MG Residential Sales Team is currently hiring for passionate real estate professionals licensed in DC, MD, and VA, who seek career growth and can see themselves embracing our mission of Transforming Lives, Careers, and Communities through Real Estate.
Join us on Wednesday, May 15th from 5:30-7:00 PM for a happy hour and panel discussion with four of our Neighborhood Experts and learn how a full-service team culture may benefit you and your business. Registration is requested: http://bit.ly/2ZMt3ey
We are currently in a holding pattern, awaiting changes to the District of Columbia’s Comprehensive Plan, for updates to the Future Use Land Map, which would allow for our proposed ‘Ravenna at Brookland Station’ project to be built.
In the interest of providing a transparent and factual understanding of what has happened with the project over the last 10 years, the Menkiti Group and Horning Brothers team provide the following detailed overview of the 901 Monroe Street NE project.
A description of the project and proposed renderings of the design may be found here.
existing zoning designation at 901 Monroe Street NE is inconsistent with
current urban planning and transit-oriented development concepts which are expressly
designed to enhance American cities and neighborhoods. The existing zoning
designation is especially problematic when considering the site’s proximity to
Metro and its position along a major commercial corridor.
of the Brookland community and DC Office of Planning spent 3-5 years developing
the Brookland/CUA Metro Station Small Area Plan which was approved by the DC
Council in 2009. This plan called for increased density on the 901 Monroe
Street NE site along with greater connectivity between the east and west sides
of the rail tracks. The plan contemplates buildings of greater density and
height than allowed by existing zoning.
the course of more than 40 community meetings in 2011 and 2012, the Menkiti
Group and Horning Brothers team proposed a project designed in keeping with the
Small Area Plan. Any proposed development exceeding one-story required modification
of the underlying zoning designation. In this case, we pursued approval of a Planned
Unit Development process (PUD) by the Zoning Commission, which is a public
process designed to ensure that neighborhood residents and the surrounding community
are thoughtfully considered and provided with tangible community benefits.
the course of many additional meetings and conversations with community members,
the Menkiti Horning team significantly modified the proposed PUD to accommodate
PUD was approved unanimously by the Zoning
Commission in 2012.
PUD was appealed, and the Court of Appeals requested that the Zoning Commission
clarify the published PUD approval order regarding medium vs. moderate density
PUD was again approvedunanimously by the Zoning Commission in
PUD was appealed a second time, at which time the Court of Appeals suggested
that the Zoning Commission process was broken, and that the Zoning Commission
needed to be more thorough and clearer in its process of writing PUD approval
PUD was once again approvedunanimously by the Zoning Commission in
The PUD was appealed a third time. The Court of Appeals appeared to be moving to remand the PUD to the Zoning Commission yet again. However, our attorney specifically requested that they not remand the case but render a final decision.
In 2016, The Court of Appeals responded by overturning the Zoning Commission’s Order, thus vacating the original and all successive PUD approvals.
2016, a wave of similar appeals has swept across the District, affecting other significant
development projects in the city, including the nearby $720M McMillan Sand
Filtration Plant redevelopment. See
this July 2017 article from BISNOW.
What needs to happen for the
901 Monroe project to move forward?
in 2016, a formal Comprehensive Plan Amendment cycle was initiated by the
Office of Planning. As part of this process, more than 3,000 public comments
were submitted. In March 2018, the DC Council held a hearing to capture public
testimony regarding the Comprehensive Plan and nearly 300 members of the
community testified in a record
session that lasted more than 13 hours. Members of the Menkiti
Horning team testified in support of proposed Comprehensive Plan amendments.
the Fall of 2018, the DC Council delayed the Comprehensive Plan Amendment discussion
that would in turn update the now outdated Future Land Use Map. The DC Council
has committed to address the Comprehensive Plan Amendment process in an
upcoming legislative session in 2019. See
this January 2019 article from Washington Business Journal.
all this a vacant property lies wasting away at a key location in one of DC’s great
Happening at the site now:
For the District Department of Transportation (DDOT) Monroe Street Bridge Project to be completed efficiently, the DDOT contractor required an adjacent staging location for construction equipment and materials. The Menkiti Horning team has temporarily leased space to Fort Myer Construction for the duration of the bridge reconstruction project. We have no information on the duration or
The Menkiti Horning team remains committed to turning the vacant property at 901 Monroe St NE into a vibrant project. Future updates will be posted here and on our Facebook page.
The Annual Brookland Trolley Tour Celebration of Lights took place this past Sunday, December 16th and broke all previous attendance records. With almost 500 friends and neighbors joining in to celebrate the holiday season, joy was all around!
RISMedia has announced it has chosen Bo Menkiti as a member of the Class of 2019 Real Estate Newsmakers, which will be revealed in the December 2018 issue of RISMedia’s Real Estate magazine, and featured online at RISMedia.com.
RISMedia’s Real Estate Newsmakers is an exclusive group of industry luminaries who have contributed in newsworthy ways to real estate. The 2019 Class was chosen by RISMedia editors for headline-making initiatives and successes, including, but not limited to:
Advancing the industry
Diversity and inclusion
Business accomplishments and growth
Industry activism and support
Thought leadership and influence
Excellence in customer service
Creativity and innovation
“RISMedia’s Real Estate Newsmaker Awards honor the industry’s real newsmakers—the people who are positively affecting our industry and the millions of consumers we serve,” says John Featherston, CEO and president of RISMedia. “Our industry promotes and provides consumers with a pathway to responsible homeownership. Over the past three-plus decades, RISMedia has covered, chronicled and celebrated the professionals making news in real estate, and we are honored to continue to formalize these honors with the 2019 annual RISMedia Real Estate Newsmaker Awards.”
The Menkiti Group, an integrated real estate services company, submitted a comprehensive proposal to reactivate the building by providing opportunities for retail, arts, and cultural amenities that will reinforce the neighborhood’s identity as a destination for arts and entertainment. The sale is expected to close in spring 2019.
“Our anticipated purchase of 526-528 Main Street will add to The Menkiti Group’s growing portfolio of projects in the Worcester Theater District, and further demonstrates our commitment to that neighborhood and to its future,” said Bo Menkiti, Founder and CEO of The Menkiti Group. “We recognize the significant architectural, cultural, and educational community assets that are here, and we look forward to working with existing stakeholders, local creatives, and entrepreneurs to enhance and harness those assets to develop a thriving, diverse, and economically vibrant neighborhood.”
“The Menkiti Group has a strong presence here in Worcester’s TDI District and throughout the city, and is the right team to lead 526-538 Main Street into the next stage of development,” said MassDevelopment President and CEO Lauren Liss. “MassDevelopment was proud to invest in this key property through our TDI Equity Investment program and we look forward to seeing this revitalized building breathe new life into downtown Worcester.”
The redevelopment of 526-538 Main Street, a two-story building located across the street from the Hanover Theatre and Conservatory in Worcester’s Theatre District, is critical to advancing the city’s vision for transforming its downtown. Following the departure of the Pawn Shop from the building in March 2018, 526-538 Main Street contains 8,000 square feet of vacant space on the building’s first floor and 8,400 square feet of vacant space on the building’s second floor. The Muse Bar, a contemporary bar established in 2015, occupies 1,000 square feet on the building’s first floor. Since MassDevelopment purchased the building in 2017, the Agency worked with the Theatre District Alliance to install new signage that visually improved the building and marketed the property.
“As our downtown revitalization efforts continue with a complete re-imagining of Main Street, reactivating this key property in our Theatre District is a vital piece of our overall development plan,” said City Manager Edward M. Augustus. “We thank MassDevelopment and the Menkiti Group for making this important project a reality through the TDI program.”
MassDevelopment’s Transformative Development Initiative is a program for Gateway Cities designed to accelerate economic growth within focused districts. The program works with cross-sector partnerships to engage community members in actionable planning, implement local economic development initiatives, and spur further public and private investment.
MassDevelopment uses its TDI Equity Investment program to make equity investments in properties with potential to spur transformative development in and around a TDI District. Through the program, MassDevelopment invests in near-term projects that will have significant economic impacts within a district; are consistent with Commonwealth and Agency priorities; engage and build capacity in local communities and partners; catalyze market demand and support district goals; and lack other sufficient funding sources to proceed.
Worcester is one of 10 Gateway Cities selected in 2014 to host pilot TDI Districts—along with Brockton, Everett, Haverhill, Holyoke, Lynn, Malden, New Bedford, Peabody, Pittsfield, Revere, and Springfield. As a part of the TDI program, each District receives a range of real estate development services to support local visions for redevelopment and to catalyze economic activity and investment. The vision for Worcester’s Theatre District is to become a bustling hub of cultural activity and entertainment within the downtown, leveraging institutional, residential, and commercial growth anchors to create a mixed-use neighborhood for residents and visitors alike to live, work, and play.
“The announcement of this sale is an exciting development in bolstering the great momentum that the Theatre District is currently witnessing,” said Craig Blais, President and CEO of the Worcester Business Development Corporation (WBDC). “This purchase is yet another example of MassDevelopment’s TDI investment programs and the indelible impact that they continue to have within the Theatre District. The 526 Main Street property has long been viewed as a distress property and the WBDC commends the Menkiti Group’s willingness to take on this difficult property. This complements our block by block strategy connecting CitySquare to Main Street.”
“The 526-538 Main Street building had been a real detractor to the area until MassDevelopment purchased it,” said Hanover Theatre President and CEO Troy Siebels. “We’re glad to see that they’ve identified a buyer in Menkiti Group that’s committed to using the building in a way that contributes positively to the theatre district.”
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2018, MassDevelopment financed or managed 384 projects generating investment of more than $4.1 billion in the Massachusetts economy. These projects are estimated to create or support 10,994 jobs and build or rehabilitate 830 housing units.
The new Early Childhood Academy (ECA) school building is located at 885 Barnaby Street, SE, and consists of a repurposed former church with a new, modern addition to bring the school’s learning, activity, music, administrative, and multi-purposes spaces all under one roof. The school currently operates from two disparate, non-school use centers on adjacent properties.
The project, which is being financed through a combination of ECA PCS funds, grant funding from the Office of the State Superintendent, DC Government facilities allotments, and federal New Markets Tax Credits, marks a milestone for new development in the Washington Highlands neighborhood. The deal was structured as a unique lease-to-own arrangement in which ECA PCS has acquired the site from The Menkiti Group to build equity for the future.
Mayor Muriel Bowser addressed the crowd of attendees from ECA, including members of the Board of Trustees, school administration, teachers, aides, students, parents, project stakeholders and partners, and members of the Washington Heights neighborhood by talking about the impact the new ECA will have on the community, stating “This is going to be the learning space and play space that the students, families, and staff at ECA deserve,” said Mayor Muriel Bowser. “When we invest in our school facilities, we’re investing in the future of our students and communities.”
In addition to Mayor Bowser, speakers included, Ward 8 Councilmember Trayon White, Sr., Wendy Edwards, Executive Director of ECA, Dennis Sawyers, President of the Board for ECA, Thann Ingraham, Principal for ECA, and Mark Rengel, Menkiti Group VP of Development and Project Manager for the ECA project.
At the groundbreaking Menkiti Group Founder and CEO Bo Menkiti also addressed the crowd, offering his reflections on the project, stating: “The Menkiti Group is proud to have this opportunity to develop and deliver not just another transformative development project to the Washington, DC community, but one that truly exemplifies our mission of transforming lives, careers, and communities through real estate. We are particularly pleased that the new Early Childhood Academy will allow young students the opportunity to have a safe, holistic learning environment as soon as the doors open next year, and for many generations in this neighborhood to come.”
ECA Executive Director Wendy Edwards, who has been with ECA since 2005, the first year that the school was in operation, shared her thoughts on the milestone occasion: “After 14 years housed in two small community centers, we are thrilled that our students at Early Childhood Academy Public Charter School will start the 2019-2020 school year in the beautiful and spacious, brand new facility that they deserve.”
Many local organizations, financial institutions, and government leaders played a role in developing this project. Partners in the project include: DC Office of the State Superintendent of Education; Low Income Investment Fund; City First Bank; City First Enterprises; Chase Bank; United Bank; Industrial Bank; Cohn Reznick LLP; TenSquare; Cox Graae + Spack Architects; Meridian Construction; Built Environment Engineers; M.A. Design Group; Robert Silman Associates; DMY Capitol; A2 Services; Dan Triman, LEED AP+; CDKM Consulting; McKeever Services; New Columbia Solar, and DC SEU. Project progress is available at MenkitGroup.com/development.
Washington, DC, October 3, 2018- The Initiative for a Competitive Inner City (ICIC) announced that The Menkiti Group has made the 2018 Inner City 100 list of the fastest-growing inner city businesses in America, based on revenue growth. ICIC, a 25-year-old national nonprofit founded by Harvard Business School professor Michael E. Porter, promotes economic prosperity in America’s inner cities through private sector investment that leads to jobs, income and wealth creation for local residents.
The list was revealed at the 20th Annual Inner City 100 Conference and Awards in Boston October 1-2. The full list is available on Fortune’s website. The Menkiti Group, led by CEO Bo Menkiti was ranked #93 based on its growth rate from 2013 to 2017 of 68.26% and 2017 revenue of $17,515,873.
2018 marked the 5th appearance on the prestigious list for The Menkiti Group, placing the company into the ICIC fastest-growing companies Hall of Fame. Keller Williams Capital Properties was also ranked for a record 5th appearance, this year at #92, which places the company into the Hall of Fame as well.
Said ICIC CEO Steve Grossman, “Inner City 100 companies are forces of economic opportunity, optimism and transformation in their communities. They lead the way in innovation, job creation and economic revitalization and it’s an honor to shine the spotlight on their leadership and accomplishments. In addition to excellence in business, these pioneering entrepreneurs have demonstrated a deep commitment to and passion for their communities, which significantly impact the wellbeing of their local economies”.
Now celebrating its 20th year, ICIC’s Inner City 100 list has long celebrated urban entrepreneurship. Since its inception, ICIC’s list has recognized 975 companies, which have seen average growth rates of more than 400 percent during a five-year period and have collectively created more than 126,000 meaningful jobs in America’s distressed and underserved communities and neighborhoods. The Inner City 100 program opens doors for other budding urban entrepreneurs and stimulates inner city business development and job creation through recognition, networking and learning.
“These businesses and their owners are a testament to the impact innovation and entrepreneurship have had in rejuvenating urban areas across the U.S. Companies such as (COMPANY NAME) are experiencing revenue growth and increased investment, which are in turn creating more jobs and economic opportunity for citizens in the communities where these companies call home” said ICIC President and COO, Matt Camp.
2018 Inner City 100 by the numbers:
Average growth rate of 436 percent between 2013 and 2017
Represent 46 cities in 23 states
Employed 10,085 individuals in 2017
Created 5,516 new jobs in the last five years
On average, 36 percent of employees live in same neighborhood as the company.
Average company age is 15 years
Average 2016 revenue is $14.8 million
31 percent are women-led
38 percent are minority-led
Represent 26 industries
CEOs from the winning companies were invited to the Inner City 100 Conference and Awards, two days of robust networking opportunities and educational sessions led by Fortune 500 executives and academics from top-tier universities, including Harvard Business School. Past winners have reported connecting with multi-million dollar investors as a result of appearing on the Inner City 100 list and attending the Conference.
Initiative for a Competitive Inner City (ICIC)
ICIC is a national nonprofit founded by Harvard Business School professor Michael E. Porter. ICIC’s mission is to promote economic prosperity in America’s inner cities through private sector investment that leads to jobs, income and wealth creation for local residents. Through its research on inner city economies, ICIC provides businesses, governments and investors with the most comprehensive and actionable information in the field about urban market opportunities. The organization supports urban businesses through the Inner City 100, Inner City Capital Connections, Goldman Sachs 10,000 Small Businesses program, and Santander Bank’s Cultivate Small Business program. Learn more at www.icic.org or @icicorg.