“The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, in partnership with Marshall Heights Community Development Organization, Inc. , has closed on construction financing for
. The community will be entirely reserved for families and individuals earning up to 30% and 50% of the Area Median Income .“Breaking ground on Emblem is a resounding win for affordable housing in Washington D.C.,” said Chris Marshall, Vice President of Development at The NRP Group. “Together with our dedicated partners, NRP and MHCDO have set the standard for bringing deeply affordable housing to a high-profile, high-opportunity neighborhood.
“Mayor Bowser has charged all of us across the public and private sectors to work together to create affordable housing throughout DC, especially in high-opportunity neighborhoods,” said Deputy Mayor Albert. “Emblem is an exciting new project that will welcome residents to this growing and vibrant area of our city.”
“Emblem represents the 21st project in the DC Housing Finance Agency’s risk share portfolio and the first transaction that we have completed with The NRP Group and NRP’s first affordable housing deal in the District,” said Christopher E. Donald, Executive Director, and CEO of the DC Housing Finance Agency. “We are excited to work with them on the continued transformation of the NoMa neighborhood.
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNBC - 🏆 12. / 72 Read more »