“ Harlow ” Brings New Market Rate and Public Housing to the Capitol Riverfront
NEWS RELEASE
October 17 Ribbon Cutting Celebrates Rapid Lease-Up and Completion of the Eighth Project in the Mixed-Use Capper/Carrollsburg Redevelopment
WASHINGTON, D.C. — October 15, 2019 — Bethesda-based real estate development and investment company Urban Atlantic, Brookfield Properties (successor to Forest City) and the District of Columbia Housing Authority (DCHA) are poised to celebrate the official opening and rapid-lease-up of the 179-unit “Harlow.” The much-anticipated mixed-income, mixed-use community brings 143 market-rate rental units, 36 public housing units, and 3,100 square feet of retail to Washington’s Capitol Riverfront neighborhood.
A Grand Opening and VIP Reception on Thursday, October 17 from 11:00 a.m. to 1:00 p.m. celebrates the completion of a redevelopment milestone for the District of Columbia and a transformational project that has contributed to the growth of the Capitol Riverfront/Navy Yard neighborhood for over a decade. The new community at 1100 2nd Place Southeast is home to 179 apartments with club-style amenities and spectacular views of the adjacent Canal Park. Twenty percent of Harlow’s residences are replacement public housing.
“As is demonstrated by the rapid pace of leasing for Harlow’s market-rate units, this new residential landmark promises to be one of the District’s best places to live, with proximity to employment, entertainment and transit,” said Vicki Davis, Urban Atlantic Managing Partner. “It’s also a striking example of how a successful public-private venture can help transform urban space with both affordable and market rate housing and job creation in a vibrant, growing and inclusive community with room for all.”
The eighth phase in the Capper/Carrollsburg master plan, Harlow was funded through a mix of D.C. Housing Production Trust Fund financing and Low-Income Housing Tax Credits, private debt and equity, and EB-5 funding to encourage foreign investment and job creation in the nation’s capital. This groundbreaking project to create truly mixed income housing in the District represents the first time that DCHA has engaged in a transaction utilizing EB-5.
“We are excited to welcome back former Capper/Carrollsburg residents and families to their old neighborhood and into this premiere building in a prime location,” said DCHA Executive Director Tyrone Garrett. “Not only will this building offer great amenities to its affordable and market-rate residents, alike, but it serves as a great example of what a local and federal partnership can do to create affordable housing in the District.”
Harlow is a signature property in the Capper/Carrollsburg redevelopment plan to transform a previously severely blighted public housing project into a thriving, mixed-income and mixed-use community that seamlessly encompasses one-for-one replacement of public housing units. When complete, the redevelopment will boast more than 1,600 townhomes, apartments, and condominiums, as well as retail, recreational and office space.
"We are proud of this strong partnership and its commitment to creating high quality environments that benefit our tenants, business partners and the communities we all serve. The Harlow is an exceptional addition to this thriving neighborhood,” said Toby Millman, Senior Vice President, Brookfield Properties.
About Urban Atlantic
Strategically focused on building value in emerging markets since 1998, Urban Atlantic is a community-minded, innovative real estate development and investment company. Urban identifies investment, acquisition and development opportunities in untapped and emerging urban and suburban markets, collaborating with government, private partners and the communities in which it works. Urban Atlantic’s portfolio of mixed use and mixed income projects drives economic development and fosters inclusive community involvement. For more information, visit www.urban-atlantic.com.
About Brookfield Properties
Brookfield Properties is a fully-integrated, global real estate services company that provides industry-leading portfolio management and development capabilities across the real estate investment strategies of Brookfield Asset Management — a global alternative asset manager with over $500 billion in assets under management
Brookfield Properties develops and manages premier real estate with a focus on maximizing the tenant experience in addition to the investment and operational performance of the asset. We also focus on integrating leading-edge real estate technologies which enables us to be at the forefront of innovation and sustainability – benefiting not only our tenants, residents and business partners, but also the communities in which we operate.
For more information about our approach to operating and developing best-in-class real estate, please visit www.brookfieldproperties.com.
About DCHA
The District of Columbia Housing Authority is an independent government agency whose mission is to provide quality affordable housing to extremely low- through moderate-income households, foster sustainable communities, and cultivate opportunities for residents to improve their lives. One of the District’s largest landlords, DCHA provides subsidized housing to approximately 50,000 residents.