Today, Anacostia's Sheridan Station development kicks off with a ground breaking for the first phase of the HOPE VI residential project. The 344 mixed-income housing units are funded in part thanks to a $20 million HOPE VI competitive grant that the District of Columbia Housing Authority (DCHA) received from the US Department of Housing and Urban Development in 2008. Sheridan Station’s 11 acres in Anacostia are owned jointly by the DC Housing Authority and William C. Smith & Co.
Though the project was initially set to begin construction in January of this year, DCHA only recently closed on financing. Phase 1 of the 344-unit Sheridan Station, formerly Sheridan Terrace, will revolve around an initial 114 units of public housing and 69 Low Income Housing Tax Credits (LIHTC) units. The 114 units will deliver in the form of a 104 unit multi-family building and 10 single-family rental units. At least 25 of the public housing units available in Phase 1 will be reserved for current Barry Farm residents. Phases 2 and 3 of the redevelopment will begin once all units in Phase 1 are filled, but the entire project is expected to be complete by 2015.
The multifamily building is registered with the US Green Building Counsel for LEED Certification Gold. Green features include a 100 KW solar photovoltaic array which provides 30% of the buildings core energy, a vegetative green roof, and an 8000 gallon rainwater retention cistern underneath the slab of the building. The building will also have a health and wellness center which will provide general family practice care for the neighborhood, provided by Core Health. Construction on the first phase is expected to be complete in December 2011.
When all three phases are complete, the 344 units will be almost double the amount of the original Sheridan Terrace - a troubled project that was torn down in 1997. As with the original Sheridan Terrace, the new-and-improved Sheridan Station will contain 183 public housing rental units. An additional 161 units will go up for sale; 117 of these will be sold at market rate and another 44 will be sold as affordable units.
As lead developer, Smith partnered with Union Temple CDC and Jackson Investment Co. to form Sheridan Terrace Redevelopment LLC. Sheridan Station will comprise a small piece of the Barry Farm/Park Chester/Wade Road redevelopment planned for Ward 8. The project was designed by Bethesda's SK&I Architects, which furnished the seven different building designs that will include landscaped green space and a pedestrian trail.
Washington, DC real estate development news