Washington – Mayor Muriel Bowser joined Girard Street Community Partners, a joint venture of local developers Menkiti Group and Dantes Partners, to celebrate the groundbreaking of the Girard Street Senior Apartments at 1545 Girard St. NE in Brookland. Upon completion, the development will include 25 luxury affordable apartments for seniors aged 55+.
“We have to invest in inclusive neighborhoods in DC,” stated Mayor Muriel Bowser in her remarks. This sentiment was echoed by DC Housing Authority Executive Director Adrianne Todman who noted, “This development is a way to honor seniors who were here when it was really kind of tough [to live in the District].” More than 60 attendees representing the District government and others from the development industry were in attendance. In addition to Mayor Bowser, speakers included Polly Donaldson, Director, DC Department of Housing and Community Development, Adrianne Todman, Executive Director, DC Housing Authority, Chris McGraw, Senior Vice President, Wells Fargo, Carisa Stanley, First Vice President, Amalgamated Bank, and Holly Denniston, Senior Program Manager, Corporation for Supportive Housing.
Girard Street Senior Apartments includes the new construction of a twenty-five (25) unit (including 10 Permanent Supportive Housing units) community for seniors 55 years of age and older through the use of a combination of 9% LIHTC, DHCD gap financing, and private 1st trust debt. The development includes local rental supplement program funds (LRSP) – the District’s version of project-based vouchers – for 100% of the units. Out-of-pocket rent for residents will be 30% of their income.
In speaking on the development team and partnership of Dantes Partners and The Menkiti Group, Bo Menkiti, CEO and Founder of the Menkiti Group, stated, “This partnership has been a great example of how public-private partnerships can positively impact the growth of the District’s neighborhoods. It takes teamwork to create affordable housing in Washington, D.C., and we are grateful for the support we have received from Mayor Muriel Bowser, Councilmember Kenyan McDuffie, DHCD, the DC Housing Authority, our local ANC, Wells Fargo, Amalgamated Bank, and the Corporation for Supportive Housing to make this initiative possible.”
Buwa Binitie, Managing Principal of Dantes Partners, stated, “We are here with the vision for creating much needed housing for those who built the District, and we are ecstatic to be able to provide quality, affordable housing options for the District’s seniors.” Girard Street Senior Apartments will be the fifth joint-development by Dantes Partners and The Menkiti Group, which have previously co-developed The Metropolitan Overlook Condominium in Eckington and the Justice Park Apartments in Columbia Heights.
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About the Menkiti Group
Founded in 2004, The Menkiti Group is a real estate services company headquartered in Ward 5 and dedicated to enhancing the fabric of life in America’s urban neighborhoods through the strategic development, management, and sale of residential and commercial property. Over the past 10 years the Menkiti Group has invested over $140 million in DC’s emerging neighborhoods, developed over 600,000 square feet of residential and commercial property and assisted over 900 families in purchasing their first home. For more information, please visit www.menkitigroup.com or call (202) 243-7777.
About Dantes Partners
Founded in 2006, Dantes Partners is a District-based real estate development company whose mission is to facilitate and enhance local economic development by designing innovative funding solutions for community-based real estate initiatives. To date, Dantes Partners’ efforts have led to the development and preservation of nearly 1,000 residences and nearly $300M of public and private financing secured. For more information, visit www.dantespartners.com.
Contact:
Stephanie Liotta Atkinson
202.808.8243
