Jair Lynch Companies has made a deal with NCRC – the National Capital Revitalization Corporation, to develop a property above the U Street corridor at 14th and Florida, NW, in Washington DC. The project, called the Solea, is going to be a mixed-use property which will include low-income housing. NCRC has 2,000 housing units in its pipeline, of which 27% are designated as affordable to very low income buyers. Sorg and Associates, the architectural firm designing the Solea, has had a productive relationship with NCRC. A representative of Sorg described the building design as unique and said that it will stand out among the recent development along U Street.
The project has allocated three retail spaces, with two already rented by Trade Secrets and Zawadi. Gilford Corp. is the builder for the $18 million Columbia Heights project. The Solea project is comprised entirely of LSDBEs or, Local Small Disadvantaged Business Enterprises.
Matt Morrin of NCRC views the Solea as an excellent example of cooperation between public and private entities working together during the development boom. "It’s a good model and you can see it across the country," said Morrin. "It’s one of several types that work to facilitate the development of private projects that take into account the needs of the local community by providing affordable housing."
Morrin added that NCRC wanted to make sure a voice representing the local community was heard, and said Jair Lynch, with its experience, made the process a success. "It worked out well,” said Morrin, "this is a positive trend for future development projects.” Sorg expects the project to be completed by late 2007.