Tag Archives: The Menkiti Group

The Menkiti Group Expands Investment in Worcester, MA with Acquisition of Historic Main Street Property 

Reported on July 12, 2023 By The Menkiti Group

The Menkiti Group | 3401 8th Street NE | Washington | DC 20017

WORCESTER, MA | July 12, 2023 The Menkiti Group is excited to announce it has closed on the acquisition of 526 Main Street in Worcester, MA.  Located in the heart of downtown Worcester just steps from City Hall and the Hanover Theatre, the firm is undertaking a complete rehabilitation of the historic structure originally constructed in 1894 for local businessman and entrepreneur Ransom F. Taylor. This strategic move further enhances The Menkiti Group’s portfolio and expands its presence in Worcester’s historic and vibrant Theatre District. 

At completion, the project will feature a co-working space which will occupy the entire 2nd floor and will also include a creative maker space intended for local artisans. Additionally, several retail spaces along Main Street are currently being advertised for lease, including an exceptional corner space ideally suited for a sit-down restaurant.

“We are proud to announce the acquisition of 526 Main Street, which further enhances our mission of transforming lives, careers, and communities through real estate,” said Bo Menkiti, Founder and CEO of The Menkiti Group. “This acquisition signifies our continued commitment to bringing investment and commercial density back to Worcester’s historic Theatre District.” 

MassDevelopment bought 526 Main Street, previously home to a pawn shop and check-cashing business, in 2017 through its Transformative Development Initiative (TDI) Equity Investment Program. After soliciting input from the City of Worcester and other stakeholders, MassDevelopment put out a Request for Proposal (“RFP”) seeking developers of the property later that year, with the agency selecting The Menkiti Group to be the preferred developer for this project. In June 2023, MassDevelopment provided three loans totaling $6,913,843 to 526 Main Street Partners LLC and 526 Main Street LL LLC, affiliates of The Menkiti Group, as well as a $250,000 grant from the Commonwealth’s Collaborative Workspace Program and conveyed the property to the company.

“MassDevelopment is proud to have completed its commitment to the City of Worcester and to our first Transformative Development Initiative district,” said MassDevelopment President and CEO Dan Rivera. “With our leading role, this critical revitalization project was made possible – from securing the priority building in 2017 and selecting The Menkiti Group as the preferred developer, to managing the property while the financing stack came together, to now delivering more than $7 million in loan and grant funding to support renovation and restoration. State, local, and private partners have made significant investments to help transform downtown Worcester into a more vibrant and attractive neighborhood, and we were glad to deploy our financing and real estate expertise to unlock the potential of 526 Main Street and ensure it is an important part of this progress.” 

The project team at The Menkiti Group successfully attained an allocation of New Markets Tax Credits from RBC Community Development with additional financing support from US Bank and the Massachusetts Development Finance Agency (MassDev). In addition, the project was awarded a grant through the Collaborative Workspace Program, which is also administered by MassDev. With the assistance of historic consultant, Epsilon Associates, The Menkiti Group qualified the project to receive both Federal and State Historic Tax Credits. Following the complete rehabilitation of the structure, the building will be listed on the National Register of Historic Places.

“We’re grateful to our financing partners at MassDev, RBC and US Bank who are allowing this project to be brought to fruition,” said Brian Burke, Executive Vice President of Development and Finance, The Menkiti Group. “The project required a multi-layered financing structure and this team worked collaboratively from day one to make this transaction possible.” 

The project’s design team is led by Providence-based ZDS Architecture & Interiors in collaboration with Building Engineering Resources (MEP/FP), Graves Engineering (Civil), and Roome and Guarracino (Structural).  The Menkiti Group has partnered again with local General Contractor, R.P. Masiello, the builder responsible for the award-winning renovation of the former Worcester YWCA located directly across the street at 6 Chatham Street (Chatham Lofts). 

“526 Main Street is a jewel box of a structure located at an extremely high visibility intersection in Downtown Worcester,” said Mark Rengel, Vice President of Development, The Menkiti Group. “It has played an important role in the retail landscape for more than a century, and we are excited for the building to recognize its full potential.  With the addition several high-quality retailers, the Ransom F. Taylor block will once again become an integral part of the fabric of Main Street.”  

About The Menkiti Group

Founded in 2004, The Menkiti Group is a 100% minority-owned Certified Business Enterprise headquartered in Washington, DC, with additional offices in Worcester, Massachusetts. The Menkiti Group is an integrated real estate services company focused on a double bottom line, measuring success in terms of positive social impact and financial returns. The company was founded with the mission to transform lives, careers, and communities through real estate, and they are committed to driving neighborhood impact and engaging in communities with a long-term lens. Their focuses include urban investment, residential and commercial development, residential sales, and commercial brokerage.

The company’s approach to urban neighborhood transformation and investment is centered upon partnerships with capital investors, local developers, community stakeholders, and small business owners to create thriving urban spaces that drive sustainable neighborhood impact and produce economic growth. The enterprise is dedicated to making smart investments in neighborhoods that are often on the “other side of perception,” to directly impact community vitality. Projects range from residential renovations and the development and tenanting of main street commercial properties to large-scale, mixed-use, transit-oriented development projects.

Over the past 19 years, The Menkiti Group has invested over $360MM in emerging urban neighborhoods, worked on the development of over 3.8MM SF of real estate, and has assisted over 2,000 families in purchasing their first homes. The Menkiti Group currently has over 4.9M SF in its development pipeline including catalytic projects in Washington, DC such as MLK Gateway, Bond Bread with Howard University, The Yards Parcels G1 and G2 in partnership with Brookfield, and St. Elizabeths Parcels 7, 8, and 9. For more information about The Menkiti Group, please visit menkitigroup.com or call (202) 733-5455. For leasing inquiries please contact Mike McElaney, VP of Commercial Real Estate, at (508) 713-9684.

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Media Contact 

Victoria Zelefsky | vzelefsky@menkitigroup.com  

The Menkiti Group Corporate Marketing Team Wins a 2022 Public Relations and Marketing Excellence Award 

Reported on November 1, 2022 By The Menkiti Group

The Menkiti Group | 3401 8th Street NE | Washington | DC 20017

(Washington D.C.) November 1, 2022 — Today, the Business Intelligence Group announced that The Menkiti Group’s Corporate Marketing Team has won the 2022 Public Relations and Marketing Excellence Awards. The Menkiti Group is a DC-based Black-owned integrated real estate services company with a mission to transform lives, careers, and communities through real estate. The enterprise, which includes a residential brokerage arm, Keller Williams Capital Properties, with nearly 1,000 agents in the DMV, is committed to driving impact by delivering the Power of Home to the clients and communities they serve and by transforming urban neighborhoods through their award-winning capital, development, and asset management platforms.

Public Relations & Marketing Excellence Award 2022 | Presented by Business Intelligence Group

“This award is a testament to the passion and dedication of our entire marketing team here at The Menkiti Group. With our mission of transforming lives, careers, and communities through real estate at the very heart of every campaign and marketing strategy, we are honored to receive this national award that celebrates and validates our collective efforts.” said Victoria Zelefsky, Director of Brand and Communications at The Menkiti Group. “I am proud to lead a team of creatives who share a similar commitment to driving impact and making a difference through marketing strategies by uplifting powerful stories from inside and outside our organization.”

In addition to this award, the corporate marketing team at The Menkiti Group was a 2022 Inman Innovator finalist for their marketing campaign honoring “Women’s History Month” and their Director of Brand and Communications, Victoria Zelefsky, was named as one of the “Top 50 Women Leaders of Maryland for 2022” by The Women We Admire.

“In 2022, The Menkiti Group’s Corporate Marketing Team showed all of us how creativity and business acumen can serve their clients’ needs,” said Maria Jimenez, Chief Nominations Officer of the Business Intelligence Group. “In this post-pandemic age, teams need to remain agile and open to all paths to effectively communicate.”

The Public Relations and Marketing Excellence Awards were launched in 2014 to reward marketing teams and departments whose work delivered exceptional performance and innovative approaches each year. These awards are designed to reward and recognize those individuals and organizations who largely go unrecognized for helping to build great brands and products of world-class organizations. For more information, visit https://www.bintelligence.com/pr-excellence/.

About The Menkiti Group

Founded in 2004, The Menkiti Group is a 100% minority-owned Certified Business Enterprise headquartered in Washington, DC, with additional offices in Worcester, Massachusetts. The Menkiti Group is an integrated real estate services company focused on a double bottom line, measuring success in terms of positive social impact and financial returns. The company was founded with the mission to transform lives, careers, and communities through real estate, and they are committed to driving neighborhood impact and engaging in communities with a long-term lens. Their focuses include urban investment, residential and commercial development, residential sales, and a commercial brokerage.

Over the past 18 years, The Menkiti Group has invested over $350MM in emerging urban neighborhoods, worked on the development of over 3MM SF of real estate, and has assisted over 2,000 families in purchasing their first homes. For more information, please visit menkitigroup.com or call (202) 733-5455.

About Business Intelligence Group

The Business Intelligence Group was founded with the mission of recognizing true talent and superior performance in the business world. Unlike other industry and business award programs, business executives—those with experience and knowledge—judge the programs. The organization’s proprietary and unique scoring system selectively measures performance across multiple business domains and then rewards those companies whose achievements stand above those of their peers.

Contacts

Victoria Zelefsky
The Menkiti Group
press@menkitigroup.com

Maria Jimenez
Business Intelligence Group
jmaria@bintelligence.com

SOURCE The Menkiti Group

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Bond Bread Project Received Approval by Historic Preservation Review Board 

Reported onOctober 14, 2022 By The Menkiti Group

The Menkiti Group | 3401 8th Street NE | Washington | DC 20017

WASHINGTON, Oct. 14, 2022 /PRNewswire/ — The redevelopment of the 2.2-acre Bond Bread Factory / WRECO Garage site at Howard University received unanimous approval by the Historic Preservation Review Board (HPRB) on Thursday, September 29, 2022. Redevelopment of Bond Bread/WRECO will be led by a master development team consisting of DC-based developers The Menkiti Group, Fivesquares Development, and EDENS. The project advances the guiding principles of the Duke District Plan, with an intention to emphasize the centrality of a “university district” to the future of the neighborhood and position that district as a dynamic, mixed-use area. With this approval, the project can move forward with design and permitting.

Bond Bread Project Rendering, Corner of U Street and V Street | Studios Architecture
Bond Bread Project Rendering, Corner of U Street and V Street | Studios Architecture

“Urban transformation is about so much more than bricks and mortar; it is also about the intangible and how well a project preserves and transforms the identity of the community. For me, this project is deeply personal as a local Black developer and real estate professional who has spent the last two decades building an organization in the District that is focused on transforming lives, careers, and communities through real estate,” said Bo Menkiti, Founder & CEO of The Menkiti Group.

“I have witnessed firsthand the power and impact of being able to incorporate both the cultural history and the restoration of historic buildings into transformative new developments. I am truly honored to have our firm leading this special project in partnership with Howard University and alongside our fellow developers at Fivesquares and EDENS. Together we share a collective vision and goal of preserving the history of the Bond Bread and WRECO buildings as well as reconnecting the community to its cultural history.”

The vision for the project is to enhance the cultural heritage and character of DC, the historic Shaw, Pleasant Plains and LeDroit park neighborhoods, and Howard University. The 9-story redevelopment, designed by Studios Architecture, includes 469 residential units, a 180-room lifestyle hotel, 50,100 SF of retail space, and a 19,800 SF open public courtyard with the historical truss reveal of the former WRECO bus garage. Façade retention of the two historic buildings will seek to respect the scale of the neighborhood while creating a harmonizing blend between preservation of existing design and contemporary design. By creating a vital neighborhood center, the development team aims to highlight the inextricable link to Howard University and will ensure the project reflects the culture and character of the University, the neighborhood and its history, and the surrounding community.

“This project will be the 18-hour, destination anchor for what is emerging as one of the most exciting districts in Washington DC where Howard University and the city come together in a new vibrant central square,” said Andy Altman, Principal & Co-Founder of FIVESQUARES. “As the former planning director for the city, it is especially rewarding to partner with the talented team of The Menkiti Group and EDENS to bring a community vision generated over a decade ago to life.”

In late 2017 Howard University released a highly competitive developer selection process which received more than 20 responses to its Request for Qualifications. After careful review and deliberation, Howard selected a development team comprised of diverse, locally based, locally operated experts in the areas of neighborhood building, retail development, and multi-family housing.

“Receiving this approval represents a critical next step in enhancing Howard University’s strategic efforts to energize and revitalize the community surrounding our campus,” said Howard University President Wayne A. I. Frederick. “The Bond Bread Partnership has enabled us to move forward with this development that will enhance the Shaw and Pleasant Plains neighborhood and create value for D.C. residents and businesses, while respecting the historic structures on this site.”

The Bond Bread Partnership comprised of The Menkiti Group, Fivesquares, and EDENS has defined their vision for this project as one that focuses on maximizing the benefits to the university as well as the neighboring communities. Together they are committed to reinforcing and expressing Howard’s historical legacy as a world-class and globally significant institution by defining the urban gateway of Georgia Avenue as a dynamic entrance to the university as it meets the city and dynamic surrounding neighborhoods.

“In repurposing this historic project, we acknowledge that these two landmarks have witnessed significant cultural shifts while embracing the nuances of their own stories – a time where one building fed the city and the other serviced the buses at Howard University’s front door,” said Steve Boyle, Chief Development Officer at EDENS. “Without diminishing the heritage of this site, we reflected on how the revitalization could lead the dialogue of the past, present, and future while continuing the interwoven story of service and legacy on the Georgia Ave corridor. The design of this emblematic project required active listening and discovery to craft a cohesive tapestry that amplifies the stories and voices of today while allowing for future stories to be told.”

The current design concept seeks to open up the site through various connections from W to V Street as well as a passageway through Georgia Avenue. The project design encourages and invites the local community to experience the robust programming and gather in a courtyard steeped in historical expressions of art, poetry, and literature of the neighborhood.

“We believe deeply in the power of preserving the cultural history and legacy of a place, and that is evident in the plan we are committed to executing.” said Bo Menkiti. “When this site is effectively preserved and carried forward into the future, we know it has the potential to be one of the great iconic sites in the city that will be a feature of the neighborhood and Howard University’s historical identity, as well as a beacon to their future impact.”

About The Menkiti Group

Founded in 2004, The Menkiti Group is a 100% minority-owned Certified Business Enterprise headquartered in Washington, DC, with additional offices in Worcester, Massachusetts. The Menkiti Group is an integrated real estate services company focused on a double bottom line, measuring success in terms of positive social impact and financial returns. The company was founded with the mission to transform lives, careers, and communities through real estate, and they are committed to driving neighborhood impact and engaging in communities with a long-term lens. Their focuses include urban investment, residential and commercial development, residential sales, and a commercial brokerage.

The company’s approach to urban neighborhood transformation and investment is centered upon partnerships with capital investors, local developers, community stakeholders, and small business owners to create thriving urban spaces that drive sustainable neighborhood impact and produce economic growth. The enterprise is dedicated to making smart investments in neighborhoods that are often on the “other side of perception,” to directly impact community vitality. Projects range from residential renovations and the development and tenanting of main street commercial properties to large-scale, mixed-use, transit-oriented development projects. 

Over the past 18 years, The Menkiti Group has invested over $350MM in emerging urban neighborhoods, worked on the development of over 3MM SF of real estate, and has assisted over 2,000 families in purchasing their first homes. For more information, please visit menkitigroup.com or call (202) 733-5455.

SOURCE The Menkiti Group

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Keller Williams Capital Properties (KWCP) and The Menkiti Group Welcomes Simon Frewer as the New President of Home Services 

Reported on August 17, 2022 By The Menkiti Group

The Menkiti Group | 3401 8th Street NE | Washington | DC 20017

WASHINGTON, Aug. 17, 2022 /PRNewswire/ — One of the nation’s fastest growing and most innovative real estate companies is proud to announce Simon Frewer, as the President of Home Services. Mr. Frewer joins the executive team at KWCP and The Menkiti Group to lead KWCP’s growth strategy and to integrate their world-class real estate brokerage with an expanding ecosystem of real estate service partners, all supported by integrated technology. In this new role, Mr. Frewer, who brings with him a long and impressive track record of leading tech-enabled service businesses, will lead the teams focused on empowering agents to deliver the Power of Home™. KWCP’s Power of Home value proposition is a highly differentiated, customer-centric approach that unlocks value for consumers throughout the homeownership-lifecycle.

“I am thrilled to have Simon leading the charge in our next evolution of growth as we focus on building and delivering the broader real estate platform of the future,” said Bo Menkiti, Founder and CEO of The Menkiti Group and KWCP. “His background makes him the ideal person to help us grow and fulfill our mission of transforming lives, careers, and communities through real estate by empowering agent entrepreneurs to deliver the Power of Home to the clients and communities they serve.”

The addition of Mr. Frewer provides an opportunity for the enterprise to further establish itself as a leader in the real estate services space and to partner with innovative and cutting-edge companies already focusing on delivering elements of the Power of Home platform to consumers.

“I’ve been so impressed by this company’s journey to date, and I couldn’t be more excited to lead the Home Services division as we empower our agents to deliver the Power of Home to their customers, and to continue to build the agent and brokerage experience of the future as our industry continues to evolve,” said Simon Frewer, President of Home Services. “Over the course of my career, I have been privileged to lead high growth companies that have disrupted the industries they play in, and I am extremely grateful and excited for the opportunity to join this great organization to do that once again.”

Mr. Frewer is an experienced senior executive with an impressive record of building businesses and leading great teams through times of transition. He has held the CEO, COO, and President roles at several globally renowned companies, where he led through times of incredible growth and change. As the CEO of Challenger, he helped transform modern B2B selling as we know it, helping some of the world’s best companies grow via sales force optimization, business process design, leadership development, and evolving the customer experience. Most recently, Mr. Frewer was the President of DLP Capital, an innovative real-estate investment fund and real estate development company. At DLP, he led new divisions that supported real estate developers and investors via software, membership, training, and event-based products. 

“This is an exciting and transformative time for all of us at KWCP and The Menkiti Group as we focus on the future of the real estate industry and we are proud to have Simon leading our efforts to deliver the Power of Home,” said Kymber Menkiti, President of KWCP. “He has quickly become an integral part of our team and I look forward to seeing our continued growth and innovation with Simon at the helm.”

By expanding their Home Services division, the enterprise is formalizing their commitment to delivering the Power of Home to consumers while keeping agents at the center of the transaction. As they concentrate on national expansion and innovation, they are aggressively recruiting and developing talent. Mr. Frewer joins a team of established leaders which includes Bryan Felder, Vice President of Core Services and Marriah Unruh, GM & Area Director of KWCP.

About The Menkiti Group:

Founded in 2004, The Menkiti Group is a 100% minority-owned Certified Business Enterprise headquartered in Washington, DC, with additional offices in Worcester, Massachusetts. The Menkiti Group is an integrated real estate services company focused on a double bottom line, measuring success in terms of positive social impact and financial returns. The company was founded with the mission to transform lives, careers, and communities through real estate, and is committed to driving impact by empowering agent entrepreneurs to deliver the Power of Home™ to the clients and communities they serve, and by transforming urban neighborhoods through its award-winning capital, development, and asset management platforms.

The company’s approach to delivering the Power of Home is centered on building an integrated home services platform that provides agent entrepreneurs with the products, tools, technology, training, and support they need to build successful local businesses that drive impact for the clients they serve. The company’s tech enabled verticals include brokerage, title, mortgage, insurance, a consumer home management portal, and concierge home renovation services. 

Over the past 18 years, The Menkiti Group has invested over $350MM in emerging urban neighborhoods, worked on the development of over 3MM SF of real estate, and has assisted over 2,000 families in purchasing their first homes. For more information, please visit menkitigroup.com or call (202) 733-5455.

About Keller Williams Capital Properties

Keller Williams Capital Properties (KWCP), The Menkiti Group’s residential brokerage arm, continues its trajectory of growth, breaking multiple records in 2021. To date, KWCP stands out as one of the fastest-growing Keller Williams Realty International brokerages ranking in the Top 20 of all KW franchises. This year, KWCP set new internal benchmarks for future growth, exceeding $3.15B in total sales volume, serving nearly 7K families, generating over $80MM in revenue, and sharing nearly $1MM in profit back to its agents who contributed to the company’s growth.

KWCP has been honored seven times by the Initiative for a Competitive Inner City as one of America’s fastest-growing companies, placing the company in the ICIC Hall of Fame. In Spring of 2022, KWCP was ranked #6 in the Washington Business Journal’s List of the Largest Companies Owned by People of Color in Greater D.C. KWCP remains relentless in its pursuit to transform lives, careers, and communities through real estate. Through a constantly expanding diverse and talented team, KWCP successfully delivers on their commitment to provide outstanding client service while making a purposeful impact on our neighborhoods and deliberate difference within the communities we serve. As KWCP continues its growth, so does its Agent Entrepreneurs; with 100+ individual agents, teams & groups increasing their business over 20% year-over-year!

SOURCE The Menkiti Group

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The Neighborhood Development Company Celebrates Ribbon Cutting of Affordable Housing Development in D.C.’s Hillcrest Neighborhood 

Reported on April 1, 2022 By Victoria Zelefsky, Director of Brand Communications of The Menkiti Group

The Menkiti Group | 3401 8th Street NE | Washington | DC 20017

Development of 100% affordable duplex condos and studios known as Park27 is now complete, bringing affordable homeownership opportunities east of the river, for sale exclusively by The Menkiti Group’s Residential Sales Team

WASHINGTON, April 1, 2022 /PRNewswire/ — The Neighborhood Development Company (NDC) was joined by Ward 7 Councilmember Vincent C. Gray, DHCD’s Director Drew Hubbard, and city officials for a ribbon-cutting today to celebrate the completion of construction on Park27, a new residential community in Hillcrest. Park27 is a collection of 26 brand-new 100% affordable duplex condos and studios, ranging in size from 500 SF to 1,250 SF and delivering much-needed affordable homeownership opportunities to Ward 7.

Rendering of Park27
Rendering of Park27

“As a native Washingtonian, I’ve seen firsthand the dramatic changes in our city that have made it harder and harder for longtime residents to own their own homes. With Park27, we not only wanted to increase affordable housing opportunities within the Hillcrest community, but we also wanted to go further and create an opportunity for families to build intergenerational wealth and security,” said Adrian G. Washington, CEO & Founder, NDC. “With our partners, the DC Department of Housing and Community Development and LISC, we are proud to be doing our part in achieving Mayor Bowser’s housing goals.”

As part of Mayor Bowser’s affordable housing initiative, Park27 adds 26 new homes east of the river. There has been a historic generational gap east of the river in homeownership, and the completion of this project marks new and exciting opportunities for Ward 7 households to create intergenerational wealth. Developed by NDC, Park27 offers a fresh change of pace with homes that have room to breathe and feature high-end amenities. The project will be an Enterprise Green Community / Energy Star Certified building.

“Park27 is possible because of historic investments by Mayor Bowser, a great team at DHCD, and committed partners like NDC, LISC, and The Menkiti Group”, said DHCD Interim Director Drew Hubbard. “Together we’re turning a formerly vacant lot into an affordable homeownership opportunity for families in Ward 7”.

Located just steps away from the corner of Minnesota Avenue SE and Pennsylvania Avenue SE, Park27 is positioned in a desirable location in D.C.’s Hillcrest neighborhood with a wide variety of amenities within walking distance. Within a mile radius residents can enjoy a public park, walking trails, and a commercial corridor with prominent developments like MLK Gateway which offers restaurants, coffee shops, and more. Off-street parking is available on a first come first served basis for residents and there is ample street parking.

“I am thrilled that we are adding additional homeownership opportunities to the Ward.  Park 27 will not only create more affordable housing, this 100% affordable housing project adds value to the District by providing quality affordable homeownership opportunities for Ward 7,” said Ward 7 Councilmember Vincent C. Gray. “It is imperative that we continue to move with urgency to also include other basic amenities like full-service grocery stores, sit-down restaurants, and retail amenities, while providing a more diverse housing stock in Ward 7.  Park 27 is a wonderful addition to our efforts to improve the quality of life for Ward 7 residents and bring more neighborhood amenities and quality housing and homeownership options to Ward 7.” 

Park27 is well situated for direct access to the District of Columbia’s strong transportation network, including a “Priority Corridor Network of Metrobus Routes.” The site is also relatively accessible to Metro with the nearest Metro station being the Potomac Avenue Metro subway station located on Pennsylvania Avenue approximately one mile to the west. Additional amenities include the Anacostia Art Center, the Smithsonian Anacostia Museum, the Anacostia House, 11th Street Bridge Park, the BIG Chair, Capitol River Front, and Kenilworth Aquatic Gardens.

“With a small area plan underway on Pennsylvania Avenue it’s great that we are seeing residential and mixed-use development along the corridor to increase density and help ensure that small, locally owned businesses who come into our community can thrive,” said Commissioner Travis R. Swanson. “While I support increased housing density, I strongly believe that it needs to be done responsibly so new developments don’t come at the expense of our long-term residents. Affordable housing is a tool that can help create homeownership opportunities while not displacing long-term residents of the community. I’m thrilled to see that this project will offer 100% of their units as affordable units for the community.”

Park27 was financed by a combination of a senior loan provided by LISC, funds from DHCD through the Housing Production Trust Fund (HPTF), and private equity. HPTF is the major tool used to produce and preserve affordable housing in the District of Columbia.

“Pennsylvania Avenue is perhaps DC’s most famous street, but when on the east side of the Anacostia, it has yet to fully blossom. For years, neighbors have seen these vacant, triangular parcels as symbol of disinvestment. But now they’re a jewel. We’re tremendously proud to have helped NDC bring Park 27 to life. 26 new homeowners will have a permanent stake in Twining and be able to raise families and contribute to the renaissance of the neighborhoods East of the Anacostia River,” said Ramon Jacobson, Executive Director of LISC. “As we celebrate LISC’s 40th anniversary, Park 27 represents our ongoing commitment to helping Washingtonians of all incomes to have an equitable stake in the nation’s capital.”

The sale of all duplex condos and studios at Park27 will be provided exclusively by MG Residential, the residential sales arm of The Menkiti Group, in addition to homeowner education services and all marketing for the project. To learn more about the details and amenities for these beautiful new homes and to join the growing reservation list, please visit https://www.park27dc.com.

“We are proud to celebrate the ribbon cutting and completion of this impactful project and sell these brand-new homes east of the river. As a community-based project that is making a difference towards Mayor Bowser’s affordable housing initiative, it’s great to partner on projects like Park27 that help advance our commitment to facilitating homeownership,” said Bo Menkiti, Founder and CEO of The Menkiti Group. “It’s an honor to be the sales team on another new development project to play a role in facilitating affordable homeownership opportunities in a community we have been closely connected to and dedicated to serving for nearly a decade.”

At the ribbon cutting ceremony, Adrian G. Washington and NDC were joined by DHCD Interim Director Drew Hubbard; Ward 7 Councilmember Vincent C. Gray; Commissioner Travis R. Swanson; Executive Director of LISC, Ramon Jacobson; Founder and CEO of The Menkiti Group, Bo Menkiti, and community members as well as representatives and partners of the project.

ABOUT NEIGHBORHOOD DEVELOPMENT COMPANY
Neighborhood Development Company (“NDC”) is a 100% Minority Owned real estate developer and operator that focuses on the revitalization of emerging urban neighborhoods within the Washington D.C. metropolitan area. NDC’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. NDC employs a methodical development strategy designed to consistently achieve attractive risk-adjusted returns. We take a hands-on approach through the development phase, prioritizing the local community and including sustainable elements into our design and development process.

NDC was founded in 1999 by Adrian Washington and since inception, the team has been able to navigate the various highs and lows of real estate cycles.  NDC has a long track record of successfully partnering with local government officials and communities to create innovative residential and mixed-use projects across the Washington D.C. metropolitan area.

NDC has a talented development team with combined experience that spans over 70 years. To date, NDC has delivered over 1.1 million square feet of commercial and residential developments, participated in more than 2.0 million square feet of mixed-used developments, retained ownership of over a quarter-million square feet, and has over 500,000 square feet in its development pipeline. For more information, please visit https://www.neighborhooddevelopment.com/.

ABOUT MG RESIDENTIAL
MG Residential is a premier sales team based in Washington, DC, with expertise in providing residential and commercial real estate services to buyers, sellers, investors, and developers across Washington DC, Maryland, and Virginia. Over the past 15+ years, MG Residential has had the privilege of serving over 3,000 families in the greater DMV region and has played a key role in facilitating access to affordable homeownership across the District. 

Founded with the mission of transforming lives, careers, and communities through real estate, MG Residential is anchored by Bo and Kymber Menkiti and Anthony and Lashika Mason. Their goal is to close the gap on homeownership and create intergenerational wealth in the District of Columbia and throughout the greater DMV region. For more information, please visit https://www.findhomesindmv.com/.

SOURCE The Menkiti Group; The Neighborhood Development Company

SOURCE The Menkiti Group

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 Victoria Zelefsky | vzelefsky@menkitigroup.com

The Menkiti Group Celebrates Grand Opening of Luxury Apartment Building in Worcester, MA 

Reported on December 10, 2021 By Victoria Zelefsky, Director of Brand Communications of The Menkiti Group

The Menkiti Group | 3401 8th Street NE | Washington | DC 20017

Chatham Lofts to serve as a sophisticated urban residential apartment community in the heart of Worcester’s historic Theatre District.

WORCESTER, Mass., Dec. 9, 2021 /PRNewswire/ — The Menkiti Group was joined by City Manager Edward M. Augustus, Jr., Thursday to celebrate the grand opening of Chatham Lofts. This project marks the first delivery of a completed development in downtown Worcester by The Menkiti Group, a D.C.-based Black-owned integrated real estate services company. Chatham Lofts is a collection of 24 new luxury apartments in the heart of the Theatre District that highlight the building’s unique architectural features. Located at 6 Chatham Street, Chatham Lofts plays an enduring role in the continued renaissance of Worcester’s urban core and offers a sophisticated and centrally located home for city-dwellers who desire the conveniences of a walkable downtown Worcester.

“We are proud to deliver Chatham Lofts, the first of many projects proving our commitment to help build a strong, thriving neighborhood in downtown Worcester,” said Mark Rengel, Vice President of Development at The Menkiti Group. “It’s an honor to infuse development into under-utilized architectural gems like 6 Chatham Street to help them reach their full potential. We believe in the future of downtown Worcester and Chatham Lofts signifies an important step in the advancement of our commitment to bring investment and commercial and residential density back to the historic and vibrant Theatre District.”

Chatham Lofts is a new market-rate apartment community featuring 24 luxury apartments comprised of studios, and one-to-two-bedroom units housed in a six-story historic building. Each unit is uniquely designed to highlight the existing architecture in order to deliver a distinctive residential living experience.

Project design team members include local General Contractor, R.P. Masiello, Elton + Hampton Architects, Petersen Engineering (MEP/FP), John J. Murphy, Jr. Electrical Construction & Engineering, Northeastern Engineering (Structural), Graves Engineering (Civil) and MacRostie Historic Advisors who served as the Historic Consultant. Chatham Lofts received approval for listing on the National Register of Historic Places from the National Park Service and qualified for both federal and state historic tax credits.

The project also received state and local support through a Housing Development Tax Increment Exemption (TIE) Agreement with the City of Worcester and Housing Development (HD) Investment Tax Credits through the Massachusetts Housing Development Incentive Program (HDIP) administered by the Massachusetts Department of Housing and Urban Development (DHCD). Chatham Lofts was financed through an equity investment by the MG Capital’s eMpower Worcester Opportunity Zone Fund and debt provided by Webster Five and the PCI Fund.

“Webster Five is proud to have been part of bringing this new downtown project to fruition,” said Webster Five Vice President & Business Lending Officer Monica Thomas-Bonnick. “Chatham Lofts adds to the vitality of downtown Worcester while honoring and preserving an iconic, historic building. That kind of thoughtful development is a win for the city.”

The grand opening of Chatham Lofts marks the completed rehabilitation and historic restoration of three adjacent structures built in 1892, 1915, and 1926. From the time of their original construction, the buildings served for many decades as the headquarters of the Worcester Young Women’s Christian Association (YWCA). Over the years the building was home to other prominent local organizations including the Worcester Foothills Theatre, WICN Public Radio, and the Performing Arts School of Worcester.

“With the opening of Chatham Lofts the city is excited to see this historic building in downtown comeback to life,” said City Manager Edward M. Augustus Jr. “By adding 24 new units of housing in the Theatre district, Chatham Lofts adds density and foot traffic that will benefit the many retail and cultural sites in addition to providing beautiful homes for people. This project is one more example of the revitalization of downtown Worcester.”

6 Chatham Street was originally purchased in 2015 by the late Ifeanyi A. Menkiti, a former poet and philosophy professor at Wellesley College who had a distinct vision for downtown Worcester. His legacy lives on with The Menkiti Group and the enterprise is committed to building upon Worcester’s storied history to create a new thriving downtown which further helps realize their mission of transforming lives, careers, and communities through real estate. With this project, The Menkiti Group successfully developed high-quality housing and infused sophistication into the downtown Worcester housing market by bringing back to life a significant cultural and historic asset in the city.

Chatham Lofts signifies an important milestone in The Menkiti Group’s overarching goal to bring new life and vibrancy to the Theatre District in support of the City’s Downtown Urban Revitalization Plan. In addition to Chatham Lofts, The Menkiti Group’s strategically positioned and growing portfolio of properties in Worcester include 401-405 Main Street (formerly Shacks Clothing), 554 Main Street, and 204 Main Street. Earlier this year, Chatham Lofts, and 401-405 Main Street were both awarded the Silver Hammer Award, an annual award given by the Worcester Regional Chamber of Commerce to acknowledge construction or rehabilitation projects that provide an extraordinary impact on the physical landscape and assist in revitalizing the community.

“We are very excited to see progress on redevelopment in the Theatre District led by The Menkiti Group with projects like Chatham Lofts,” said Bill Aldrich, Founder and Co-Owner/ Chef of Theatre Café and Center Stage Bistro. “We look forward to our Center Stage Bistro opening in their flagship property at 554 Main Street this upcoming spring.”

Bo Menkiti, Mark Rengel, and members of The Menkiti Group team were joined at Thursday’s ceremony by City Manager Edward M. Augustus, Jr., Mayor Joseph Petty, District 2 Councilor Candy F. Mero-Carlson, and community members as well as representatives and partners of the project.

“At The Menkiti Group we have remained diligent over the last 17 years in pursuing our mission of transforming lives, careers, and communities through real estate, and we are proud to be delivering this unique residential project that continues the momentum of economic development in the City of Worcester,” said Menkiti. “When I first visited Worcester with my father, it was amazing to see the grit, determination, energy, and potential represented in the restaurants, small businesses, and creative community that chose to establish a home downtown. Witnessing first-hand the commitment of the city’s residents and small businesses and the exceptionally strong municipal leadership, it was clear that everyone is committed to the potential that is in Worcester and it is exciting to be part helping to realize the community’s vision for downtown by delivering an impactful project like Chatham Lofts.”

ABOUT THE MENKITI GROUP

Founded in 2004, The Menkiti Group is a 100% minority-owned Certified Business Enterprise headquartered in Washington, DC, with additional offices in Worcester, Massachusetts. The organization was founded with the mission to transform lives, careers, and communities through real estate. The Menkiti Group is a double bottom line company, measuring success in terms of financial and positive social impact. The company’s approach to urban neighborhood transformation and investment is centered upon residential and commercial development, residential sales, and commercial brokerage.

The Menkiti Group invests in abandoned and underutilized properties and transforms them into exciting and affordable homes and workspaces. Projects range from single-family residential renovations and the development and tenanting of main street commercial properties to large-scale, mixed-use, transit-oriented development projects. Over the past 17 years, The Menkiti Group has invested over $250MM in DC’s emerging neighborhoods, worked on the development of over 2.1MM SF of real estate, and has assisted over 2,000 families in purchasing their first homes. For more information, please visit menkitigroup.com or call (202) 733-5455.

SOURCE The Menkiti Group

###

 Victoria Zelefsky | vzelefsky@menkitigroup.com

The Menkiti Group Expands Commercial Real Estate Team with New VP to Further its Momentum in Worcester 

Reported on December 1, 2021 By Victoria Zelefsky, Director of Brand Communications of The Menkiti Group

The Menkiti Group | 3401 8th Street NE | Washington | DC 20017

Left to Right: Mark Rengel, Vice President of Development and Michael McElaney, Vice President of Commercial Real Estate

WORCESTER, Mass., Dec. 1, 2021 /PRNewswire/ — With a portfolio that is rapidly expanding across Massachusetts and the Greater Washington Area, The Menkiti Group, an integrated real estate services firm based in Washington, DC with additional offices in Worcester, MA, has appointed.

Mike McElaney as their new Vice President of Commercial Real Estate. McElaney joins The Menkiti Group at a pivotal moment for the firm as they have crossed the threshold of developing over two million square feet of catalytic projects with a majority of that space dedicated to commercial use with exponential growth in Worcester, MA and Washington, DC.

Based in New England and with ties to Worcester as an alumnus of the College of the Holy Cross, McElaney will lead The Menkiti Group’s vision and strategy for the New England region while overseeing commercial leasing on a national basis. In this role, McElaney will play a key part in directing the firm’s portfolio strategy through sourcing, negotiating, and executing commercial transactions across the enterprise.

“The Menkiti Group has an impressive reputation in both the New England and Greater Washington, DC markets and has built an impressive portfolio of real estate. I’m thrilled to join a team of motivated and passionate real estate thought leaders with a unique mission driven approach to real estate investment and development” said Mike McElaney, Vice President of Commercial Real Estate at The Menkiti Group. “As an alumnus of the College of Holy Cross in Worcester, it’s great to be back in the area!” 

As a way of extending The Menkiti Group’s mission to transform lives, careers, and communities through real estate, the addition of McElaney provides an opportunity for the firm to expand its reach within the communities they serve. Initial areas of focus for McElaney will include Main Street in Worcester: 554 Main, and 401-405 Main Street (the former Shacks Building), two buildings that the firm is renovating to bring back the historic integrity of downtown Worcester and other catalytic projects in Washington, DC for the firm including MLK Gateway, a two-phase project located in the heart of historic Anacostia.

McElaney brings over 15 years of experience as a commercial real estate broker and has negotiated and executed over five million square feet of commercial leasing and sales transactions. Prior to joining The Menkiti Group, he was responsible for sourcing and executing new business opportunities throughout New England as Senior Vice President for Avison Young. Before his time at Avision Young, McElaney spent over a decade at Colliers International.

“There is significant momentum in the Worcester marketplace, and we are excited to have Mike leading our commercial leasing efforts” said Mark Rengel, Vice President of Development at The Menkiti Group. “He has quickly become an integral part of The Menkiti Group team, and I look forward to seeing our continued growth in Worcester and beyond with Mike at the helm.”

Over the last 17 years, The Menkiti Group has established a strong track record of success and developed over two million square feet of catalytic projects in Washington, DC and Worcester, MA. By expanding commercial leasing efforts, the enterprise is formalizing its growth and expansion strategy.

“It’s an exciting time to be joining The Menkiti Group,” said McElaney. “I look forward to adding value to the existing portfolio while finding opportunities to enter new markets.”

About The Menkiti Group:

Founded in 2004, The Menkiti Group is a 100% minority-owned Certified Business Enterprise headquartered in Washington, DC, with additional offices in Worcester, Massachusetts. The organization was founded with the mission to transform lives, careers, and communities through real estate. The Menkiti Group is a double bottom line company, measuring success in terms of financial and positive social impact. The company’s approach to urban neighborhood transformation and investment is centered upon residential and commercial development, residential sales, and commercial brokerage.

The Menkiti Group invests in abandoned and underutilized properties and transforms them into exciting and affordable homes and workspaces. Projects range from residential renovations and the development and tenanting of main street commercial properties to large-scale, mixed-use, transit-oriented development projects. Over the past 17 years, The Menkiti Group has invested over $250MM in DC’s emerging neighborhoods, worked on the development of over 2.1MM SF of real estate, and has assisted over 2,000 families in purchasing their first homes.

SOURCE The Menkiti Group

 Victoria Zelefsky | vzelefsky@menkitigroup.com

The Menkiti Group Celebrates Groundbreaking on Phase II of MLK Gateway Project in Historic Anacostia 

Reported on November 23, 2021 By Victoria Zelefsky, Director of Brand Communications of The Menkiti Group

The Menkiti Group | 3401 8th Street NE | Washington | DC 20017

Construction on the second phase of MLK Gateway is underway, paving the way for a completed gateway to Historic Anacostia that drives neighborhood impact by early 2023.

Groundbreaking on Phase II of the MLK Gateway project in Historic Anacostia hosted on Monday, November 15, 2021.

(WASHINGTON, D.C.) PR Newswire– The Menkiti Group was joined by Mayor Muriel Bowser and city officials for a WASHINGTON, Nov. 23, 2021 /PRNewswire/ — The Menkiti Group was joined by Mayor Muriel Bowser and city officials to celebrate the groundbreaking of the second phase of MLK Gateway, the new epicenter of commerce, culture, and technology with a vibrant mix of neighborhood-serving retail in Historic Anacostia. The development of this project is being led by The Menkiti Group and co-developed by SHIFT Capital, and Enlightened Inc. Located at the corner of Good Hope Road and Martin Luther King Jr. Avenue SE directly across the street from the completed first phase of the project, Phase II will be home to a newly built five-story office and retail building with two levels of underground parking that totals over 104,000 SF.

 of SHIFT Capital. “Together with The Menkiti Group’s team and our partners, we have created a value-aligned capital stack that drives equity throughout the development process and unites us on purpose to deliver for the Anacostia community.”

The second phase of MLK Gateway has secured over $60 million in financing, proving that there is great power in public and private collaboration to make strategic investments in existing communities. Financing for the second phase of the project includes a combination of New Market Tax Credits, Opportunity Zone equity, and a Neighborhood Prosperity Grant provided by DMPED. Financing partners for the second phase include EagleBank, LISC’s Black Economic Development Fund, Atlantic Union Bank, Chase, NCIF, Harbor Bank, Industrial Bank, The Community Builders, Georgetown Impact Fund, Forza Fund, Chestnut Funds, and SHIFT Capital.

“Investing in projects like MLK Gateway allows EagleBank to fulfill our mission to serve the community, so that together we can serve the area for many years to come,” said Ryan Riel, EVP, and Chief Real Estate Lending Officer at EagleBank. “The Menkiti Group has been a top-notch partner throughout this process and we’re excited to see this project come to life in the long under-served Anacostia neighborhood.”

Through engaging with the community and local business owners east of the river over the past six years, The Menkiti Group has been able to bring to life the local residents’ vision for the neighborhood and the second phase of MLK Gateway is an expansion of that momentum in historic Anacostia. The design of the building by STUDIOS Architecture embraces and incorporates the neighborhoods historic character and includes a vibrant mix of neighborhood-serving retail and a new home for powerful and transformative DC-based businesses.

“Chestnut Funds is proud to partner with both SHIFT Capital and The Menkiti Group. Our team values working with local partners who are embedded in communities and leading impactful projects such as MLK II,” says Steen Watson, CEO of Chestnut Funds. “Phase II of the MLK Gateway project will activate an important community corridor, better connect the historic Anacostia neighborhood to downtown DC, and provide access to additional retail goods and services as well as job opportunities.”  

The development of both phases of MLK Gateway is being led by local D.C.-based Black-owned integrated real estate services company, The Menkiti Group. MLK Gateway is a powerful example of a successful collaboration between the D.C. Government, private sector, and local residents.

“LISC is thrilled to have the opportunity to continue to work with the Menkiti Group as an investor in MLK Gateway II,” said George Ashton, Managing Director, LISC Strategic Investments. “The Black Economic Development Fund’s $8 million loan further facilitates commercial development and job growth to the area, empowering local opportunities at the heart of the historic Anacostia neighborhood.”

At the groundbreaking ceremony, Bo Menkiti and The Menkiti Group were joined by Mayor Muriel Bowser, Ward 8 Councilmember Trayon White, Ward 5 Councilmember Kenyan McDuffie, Deputy Mayor for Planning and Economic Development John Falcicchio, Enlightened Inc. President and CEO Antwanye Ford, CEO of SHIFT Capital, Brian Murray, and community members as well as representatives and partners of the projects.

“At The Menkiti Group we have remained diligent over the last 17 years to pursue our mission of transforming lives, careers, and communities through real estate and MLK Gateway is a testament to our commitment to enhancing the fabric of life in America’s urban communities. We are proud to celebrate the power and potential of Anacostia and continue our momentum of delivering a transformative project for this great community,” said Menkiti.

ABOUT THE MENKITI GROUP

Founded in 2004, The Menkiti Group is a 100% minority-owned Certified Business Enterprise headquartered in Washington, DC, with additional offices in Worcester, Massachusetts. The organization was founded with the mission to transform lives, careers, and communities through real estate. The Menkiti Group is a double bottom line company, measuring success in terms of financial and positive social impact. The company’s approach to urban neighborhood transformation and investment is centered upon residential and commercial development, residential sales, and commercial brokerage.

The Menkiti Group invests in abandoned and underutilized properties and transforms them into exciting and affordable homes and workspaces. Projects range from residential renovations and the development and tenanting of main street commercial properties to large-scale, mixed-use, transit-oriented development projects. Over the past 17 years, The Menkiti Group has invested over $250MM in DC’s emerging neighborhoods, worked on the development of over 2.1MM SF of real estate, and has assisted over 2,000 families in purchasing their first homes. For more information, please visit menkitigroup.com or call (202) 733-5455.

 of SHIFT Capital. “Together with The Menkiti Group’s team and our partners, we have created a value-aligned capital stack that drives equity throughout the development process and unites us on purpose to deliver for the Anacostia community.”

The second phase of MLK Gateway has secured over $60 million in financing, proving that there is great power in public and private collaboration to make strategic investments in existing communities. Financing for the second phase of the project includes a combination of New Market Tax Credits, Opportunity Zone equity, and a Neighborhood Prosperity Grant provided by DMPED. Financing partners for the second phase include EagleBank, LISC’s Black Economic Development Fund, Atlantic Union Bank, Chase, NCIF, Harbor Bank, Industrial Bank, The Community Builders, Georgetown Impact Fund, Forza Fund, Chestnut Funds, and SHIFT Capital.

“Investing in projects like MLK Gateway allows EagleBank to fulfill our mission to serve the community, so that together we can serve the area for many years to come,” said Ryan Riel, EVP, and Chief Real Estate Lending Officer at EagleBank. “The Menkiti Group has been a top-notch partner throughout this process and we’re excited to see this project come to life in the long under-served Anacostia neighborhood.”

Through engaging with the community and local business owners east of the river over the past six years, The Menkiti Group has been able to bring to life the local residents’ vision for the neighborhood and the second phase of MLK Gateway is an expansion of that momentum in historic Anacostia. The design of the building by STUDIOS Architecture embraces and incorporates the neighborhoods historic character and includes a vibrant mix of neighborhood-serving retail and a new home for powerful and transformative DC-based businesses.

“Chestnut Funds is proud to partner with both SHIFT Capital and The Menkiti Group. Our team values working with local partners who are embedded in communities and leading impactful projects such as MLK II,” says Steen Watson, CEO of Chestnut Funds. “Phase II of the MLK Gateway project will activate an important community corridor, better connect the historic Anacostia neighborhood to downtown DC, and provide access to additional retail goods and services as well as job opportunities.”  

The development of both phases of MLK Gateway is being led by local D.C.-based Black-owned integrated real estate services company, The Menkiti Group. MLK Gateway is a powerful example of a successful collaboration between the D.C. Government, private sector, and local residents.

“LISC is thrilled to have the opportunity to continue to work with the Menkiti Group as an investor in MLK Gateway II,” said George Ashton, Managing Director, LISC Strategic Investments. “The Black Economic Development Fund’s $8 million loan further facilitates commercial development and job growth to the area, empowering local opportunities at the heart of the historic Anacostia neighborhood.”

At the groundbreaking ceremony, Bo Menkiti and The Menkiti Group were joined by Mayor Muriel Bowser, Ward 8 Councilmember Trayon White, Ward 5 Councilmember Kenyan McDuffie, Deputy Mayor for Planning and Economic Development John Falcicchio, Enlightened Inc. President and CEO Antwanye Ford, CEO of SHIFT Capital, Brian Murray, and community members as well as representatives and partners of the projects.

“At The Menkiti Group we have remained diligent over the last 17 years to pursue our mission of transforming lives, careers, and communities through real estate and MLK Gateway is a testament to our commitment to enhancing the fabric of life in America’s urban communities. We are proud to celebrate the power and potential of Anacostia and continue our momentum of delivering a transformative project for this great community,” said Menkiti.

ABOUT THE MENKITI GROUP

Founded in 2004, The Menkiti Group is a 100% minority-owned Certified Business Enterprise headquartered in Washington, DC, with additional offices in Worcester, Massachusetts. The organization was founded with the mission to transform lives, careers, and communities through real estate. The Menkiti Group is a double bottom line company, measuring success in terms of financial and positive social impact. The company’s approach to urban neighborhood transformation and investment is centered upon residential and commercial development, residential sales, and commercial brokerage.

The Menkiti Group invests in abandoned and underutilized properties and transforms them into exciting and affordable homes and workspaces. Projects range from residential renovations and the development and tenanting of main street commercial properties to large-scale, mixed-use, transit-oriented development projects. Over the past 17 years, The Menkiti Group has invested over $250MM in DC’s emerging neighborhoods, worked on the development of over 2.1MM SF of real estate, and has assisted over 2,000 families in purchasing their first homes. For more information, please visit menkitigroup.com or call (202) 733-5455.

###

 Victoria Zelefsky | vzelefsky@menkitigroup.com

The Menkiti Group Celebrates Ribbon Cutting on Phase I of MLK Gateway Project in Historic Anacostia 

Reported on November 18, 2021 By Victoria Zelefsky, Director of Brand Communications of The Menkiti Group

The Menkiti Group | 3401 8th Street NE | Washington | DC 20017

Phase I of MLK Gateway reaches completion, providing a backdrop for a new epicenter of commerce, culture, and technology in Ward 8.

Ribbon cutting on Phase I of the MLK Gateway project in Historic Anacostia hosted on Monday, November 15, 2021.

(WASHINGTON, D.C.) PR Newswire– The Menkiti Group was joined by Mayor Muriel Bowser and city officials for a ribbon cutting earlier this week on November 15 to celebrate the completion of Phase One of the historic MLK Gateway project in Anacostia. The first phase 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.

“We are proud to deliver phase one of this catalytic project east of the river,” said Bo Menkiti, Founder and CEO, The Menkiti Group. “We have been actively engaged with the historic Anacostia community, working together with the Bowser Administration, DMPED, and local leaders, residents and business owners to execute on a collaborative vision for equitable and sustainable economic development in Ward 8 and believe that MLK Gateway demonstrates how the power of collaboration between the public and private sectors can truly drive neighborhood impact.”

The project is anchored and co-developed by Enlightened Inc., an award-winning Black-owned information technology and cybersecurity firm that has relocated its nearly 150 District-based employees to this new headquarters in historic Anacostia. By moving to MLK Gateway, Enlightened became the largest private technology employer to move east of the Anacostia River in four decades, further accelerating job growth in Historic Anacostia. Enlightened 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.

“Enlightened is proud to be a part of this community and to be an agent of positive economic development,” said Antwanye Ford, President and CEO, Enlightened Inc. “Bringing training programs and jobs is what we love to do, and we are looking forward to leading the charge in developing local entrepreneurs, launching businesses, and creating a national tech hub at the entrance to Anacostia.”

Additional tenants at phase one include a new restaurant run by The Gaston Group, a Ward 8-based business and Capital One Café, a full-service coffee and tea bar with collaborative workspaces and meeting rooms for public use. The café, which occupies approximately 3,700 square feet of retail space, brings locally sourced food and beverages, complimentary Wi-Fi, private rooms for guests to enjoy, and financial education opportunities for the community.  

“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 has helped us bring jobs, housing, and new amenities to Ward 8.”

The first phase of MLK Gateway 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 was one of the first in the country to deploy a combination of both Opportunity Zone funding and New Market Tax Credits. Additionally, the project also received a $700,000 grant from DMPED’s Neighborhood Prosperity Fund. Financing partners for the first phase of MLK Gateway include PNC Bank, City First Bank, LISC, Consortium America, and Uplands Real Estate Partners.

“The completion of MLK Gateway Phase I brings economic opportunities and jobs to the historic Anacostia community,” said George Ashton, Managing Director, LISC Strategic Investments.  “LISC is proud to partner with mission driven developers like The Menkiti Group that build impactful community-based projects that are directly responsive to the community’s needs. We are excited to celebrate this milestone and look forward to continuing to support our Ward 8 residents.”

“As fellow Washingtonians, we are thrilled to partner with The Menkiti Group to deliver vibrant retail and high-quality jobs to historic Anacostia,” said Joshua Hoffman, Principal, Uplands Real Estate Partners. “MLK Gateway represents the best of what a public-private partnership can achieve.”

Through engaging with the community and local business owners, The Menkiti Group has been able to bring to life the local residents’ vision for the neighborhood. The design of the building by architects Hickok Cole embraces and incorporates the site’s existing historic facades, a vibrant mix of neighborhood-serving retail, and provides a gateway to commerce, culture, and technology at the entrance to Anacostia.

“It’s a privilege to be entrusted by The Menkiti Group, Mayor Muriel Bowser, and the Anacostia community to design Phase I of MLK Gateway. We’ve been deeply integrated within the community, working with local review boards from the start, and committed to delivering a design that bridges the gap between Anacostia’s history and its bright path forward,” said Bertin Radifera, Senior Associate and Senior Project Manager at Hickok Cole. “We are incredibly proud to play a role in launching Anacostia’s next chapter and look forward to engaging with this vibrant community on many more opportunities down the road.”

Located at the corner of Good Hope Road and Martin Luther King Jr. Avenue SE, MLK Gateway is a two-phased community-oriented project that drives neighborhood impact in the heart of historic Anacostia. The development of both phases of the project is being led by local D.C.-based Black-owned integrated real estate services company, The Menkiti Group. MLK Gateway is a powerful example of a successful collaboration between the D.C. Government, private sector, and local residents.

At the ribbon cutting ceremony, Bo Menkiti and The Menkiti Group were joined by Mayor Muriel Bowser, Ward 8 Councilmember Trayon White, Ward 5 Councilmember Kenyan McDuffie, Deputy Mayor for Planning and Economic Development John Falcicchio, Enlightened Inc. President and CEO Antwanye Ford, Executive Vice President of External Affairs at Capital One, Andy Navarette, and community members as well as representatives and partners of the projects.

“At The Menkiti Group we have remained diligent over the last 17 years to pursue our mission of transforming lives, careers, and communities through real estate and this project is a testament to our commitment to enhancing the fabric of life in America’s urban communities. We are proud to celebrate this significant milestone in bringing to life the community’s vision for the historic MLK Gateway alongside partners who share a similar commitment to driving neighborhood impact for Anacostia. We look forward to continuing to work with the community to show the power and strength of D.C. residents east of the river,” said Menkiti.

ABOUT THE MENKITI GROUP

Founded in 2004, The Menkiti Group is a 100% minority-owned Certified Business Enterprise headquartered in Washington, DC, with additional offices in Worcester, Massachusetts. The organization was founded with the mission to transform lives, careers, and communities through real estate. The Menkiti Group is a double bottom line company, measuring success in terms of financial and positive social impact. The company’s approach to urban neighborhood transformation and investment is centered upon residential and commercial development, residential sales, and commercial brokerage.

The Menkiti Group invests in abandoned and underutilized properties and transforms them into exciting and affordable homes and workspaces. Projects range from residential renovations and the development and tenanting of main street commercial properties to large-scale, mixed-use, transit-oriented development projects. Over the past 17 years, The Menkiti Group has invested over $250MM in DC’s emerging neighborhoods, worked on the development of over 2.1MM SF of real estate, and has assisted over 2,000 families in purchasing their first homes. For more information, please visit menkitigroup.com or call (202) 733-5455.

###

 Victoria Zelefsky | vzelefsky@menkitigroup.com

The Menkiti Group Celebrates Major Milestones on Historic MLK Gateway Project in Anacostia 

Reported on November 15, 2021 By Victoria Zelefsky, Director of Brand Communications of The Menkiti Group

The Menkiti Group | 3401 8th Street NE | Washington | DC 20017

MLK Gateway to serve as the new epicenter of commerce, culture, and technology with a vibrant mix of neighborhood-serving retail.

MLK Gateway in Historic Anacostia. Pictured left is Phase I of the project and pictured right is Phase II of the project. Located at the intersection of Martin Luther King Jr. Ave and Good Hope Road.

WASHINGTON, Nov. 15, 2021 /PRNewswire/ — The Menkiti Group was joined by Mayor Muriel Bowser and city officials Monday to celebrate two major milestones for MLK Gateway: the ribbon cutting of its completion of the first phase and the groundbreaking of its second phase. The development of both phases of the project is being led by a local D.C.-based Black-owned integrated real estate services company, The Menkiti Group. MLK Gateway is a powerful example of a successful collaboration between the D.C. Government, private sector, and local residents. Located at the corner of Good Hope Road and Martin Luther King Jr. Avenue SE, MLK Gateway is a community-oriented project that drives neighborhood impact in the heart of historic Anacostia.

“We are proud to deliver phase one and break ground on the second phase of this catalytic project east of the river,” said Bo Menkiti, Founder and CEO, The Menkiti Group. “We believe MLK Gateway is an innovative example of community-led participative development and demonstrates how the power of collaboration between the public and private sectors can truly drive neighborhood impact.”

The first phase of MLK Gateway 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., an award-winning Black-owned information technology and cybersecurity firm that has relocated its nearly 150 District-based employees to this new headquarters in historic Anacostia. Additional tenants at phase one include Capital One Café, a full-service coffee and tea bar with collaborative workspaces and meeting rooms for public use, and a new restaurant run by The Gaston Group, a Ward 8-based business. The phase one building’s design embraces and incorporates the site’s existing historic facades, a vibrant mix of neighborhood-serving retail, and provides a backdrop for a new epicenter of commerce, culture, and technology in Anacostia.

“Enlightened is proud to be a part of this community and to be an agent of positive economic development,” said Antwanye Ford, President and CEO, Enlightened Inc. “Bringing training programs and jobs is what we love to do, and we are looking forward to leading the charge in developing local entrepreneurs, launching businesses, and creating a national tech hub at the entrance to Anacostia.”

The second phase of MLK Gateway will include the construction of a new building at 1909 Martin Luther King Jr. Ave. SE with street-level retail and multistory office space above. The project is anchored by Washington, D.C.’s Department of Housing and Community Development (DHCD) which will be retaining its headquarters in the historic Anacostia neighborhood and is part of Mayor Muriel Bowser’s initiative to locate public agencies on the east side of the Anacostia River. Additionally, phase two will be home to a new Keller Williams Capital Properties (KWCP) office bringing a national real estate chain east of the river. At MLK Gateway, KWCP will found the East of the River Real Estate Academy, a training center for aspiring real estate entrepreneurs designed to open doors to new opportunities for local residents.

“At MLK Gateway, we’re collaborating with partners and leaders who know DC and who know Ward 8. And, together, we’re delivering results: jobs, opportunity, a new restaurant, and more,” said Mayor Bowser. “This is the second Neighborhood Prosperity Fund project that we’re celebrating in the past three days – on Saturday we were in Bellevue to open the new Good Food Market. We made a commitment to the community, and now we’re delivering. Today, we’re back in Ward 8, welcoming a Black-owned technology firm and celebrating all the opportunity that this site represents.”

Through numerous meetings and engagement with community groups, residents, and local businesses, The Menkiti Group has been able to bring to life the city and local residents’ vision for the neighborhood. The Menkiti Group is honored to execute on that vision and further realize its mission of transforming lives, careers, and communities through real estate and they remain dedicated to driving neighborhood impact as they continue on into the second phase of this project.

“MLK Gateway demonstrates what we can deliver when the public and private sectors work together to make big, strategic investments in existing communities,” said John Falcicchio, Deputy Mayor for Planning and Economic Development. “We triple downed on this project using New Tax Credits, Opportunity Zone, and Neighborhood Prosperity funds to make sure the residents of Ward 8 were supported.”

Both phases of MLK Gateway are models for public and private collaboration. The partners for phase one include 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 partners for phase two include The Menkiti Group, Enlightened Inc., SHIFT Capital, DMPED, DHCD, EagleBank, LISC Black Economic Development Fund, Chestnut Funds, Chase Bank, Harbor Bank, NCIF, and Industrial Bank.

“It’s an exciting experience to leverage District assets in a purposeful manner with the clear intention of strengthening the Ward 8 economy,” said Department of General Services (DGS) Director Keith A. Anderson.  “That’s precisely what we achieved when we negotiated a new headquarters lease for the Department of Housing and Community Development; this space will ensure their staff can continue providing and creating innovative programming services for the District.”

Bo Menkiti and The Menkiti Group were joined at Monday’s ceremony by Mayor Muriel Bowser, Ward 8 Councilmember Trayon White, Ward 5 Councilmember Kenyan McDuffie, Deputy Mayor for Planning and Economic Development John Falcicchio, Enlightened Inc. President and CEO Antwanye Ford, SHIFT Capital CEO, Brian Murray, and community members as well as representatives and partners of the projects.

“At The Menkiti Group we have remained diligent over the last 17 years to pursue our mission of transforming lives, careers, and communities through real estate and this project is a testament to our commitment to enhancing the fabric of life in America’s urban communities. We are proud to celebrate this significant milestone in bringing to life the community’s vision for the historic MLK Gateway alongside partners who share a similar commitment to driving neighborhood impact for Anacostia. We look forward to continuing to work with the community to show the power and strength of D.C. residents east of the river,” said Menkiti.

ABOUT THE MENKITI GROUP
Founded in 2004, The Menkiti Group is a 100% minority-owned Certified Business Enterprise headquartered in Washington, DC, with additional offices in Worcester, Massachusetts. The organization was founded with the mission to transform lives, careers, and communities through real estate. The Menkiti Group is a double bottom line company, measuring success in terms of financial and positive social impact. The company’s approach to urban neighborhood transformation and investment is centered upon residential and commercial development, residential sales, and commercial brokerage.

The Menkiti Group invests in abandoned and underutilized properties and transforms them into exciting and affordable homes and workspaces. Projects range from single-family residential renovations and the development and tenanting of main street commercial properties to large-scale, mixed-use, transit-oriented development projects. Over the past 17 years, The Menkiti Group has invested over $225MM in DC’s emerging neighborhoods, worked on the development of over 2.1MM SF of real estate, and has assisted over 2,000 families in purchasing their first homes. For more information, please visit menkitigroup.com or call (202) 733-5455.

 Victoria Zelefsky | vzelefsky@menkitigroup.com