What's Hot: Mortgage Rates Fall Towards 6% Following Fed Cut
Deanwood Development With Grocery Gets Green Bank's First Predevelopment Loan
✉️ Want to forward this article? Click here.
While this mixed-use Deanwood development didn't meet its crowdfunding minimum, it just won additional funding from an unlikely source.
The DC Green Bank announced a $250,000 pre-development loan this morning for developer Medici Road to realize its by-right project at 4276 Sheriff Road NE (map). The development will include 13 condos for households earning up to 80% of area median income; co-working space; a headquarters for Medici Road; and 6,800 square feet of retail, including a 2,500 square-foot grocer.
story continues below
loading...story continues above
As designed by architect Michael Weincek, the 17,000 square-foot building would include a rooftop solar array and a means to recycle stormwater. It is projected that the solar power would save each resident $2,400 on electricity over 10 years, and the stormwater system would have a 9,000 gallon capacity for each weather event and would reduce soil erosion and pollution by 2-5%.
Medici Road has also received funding from Capital Impact Partners's loan fund; the developer expects to acquire building permits early next year.
See other articles related to: deanwood, deanwood station, green bank, medici road, weincek
This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/mixed-use-deanwood-development-gets-green-banks-first-predevelopment-loan/18720.
Most Popular... This Week • Last 30 Days • Ever
Mortgage rate buydowns can be a good option for buyers who want to save money on inte... read »
Plans filed this week provide the latest look at the 106-key hotel in the works at an... read »
A plan to add another new residential building to the Friendship Heights pipeline is ... read »
The eight-bedroom, 35,000 square-foot home in McLean known as The Cliffs went under c... read »
The large new development would take the place of the Ballston One office building al... read »
- How Does a Mortgage Rate Buydown Work?
- A Look At Georgetown's New 100-Key Hotel Along The Canal
- Donohoe Files PUD For 127-Unit Development in Friendship Heights
- A $30 Million Sale? One Of The DC Area's Most Expensive Homes Finds A Buyer
- Updated Plans Filed For 328-Unit Development At Arlington Office Site
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro