Rhode Island Station

The Brentwood Neighborhood in NE Washington DC is getting a welcomed addition to the community in the form of a comprehensive development located next to the Rhode Island Metro Station. Rhode Island Station is stepping into the future of community development as a mixed-use, transit-oriented, public-private venture that incorporates smart growth theory, green design elements, and affordable housing. What more could you ask for?

This 107 million dollar project is the product of a joint venture between DC-based developers Urban Atlantic (formerly Mid-City Urban LLC) and Baltimore-based A&R. The mixed-use development will have 70,000 sqf of retail and restaurant space, 10 percent of which will be devoted to locally owned businesses. It’s residential aspect boasts 274 Class A apartments and 20 percent of all units will be affordable housing without subsidies.

The public-private financing that allowed this project to be possible in a down market is a wonder in-and-of itself. The project was leveraged by private equity and coupled with a myriad of public financing tools including the Low Income Investment Fund (LIIF), DC PILOT financing, and most notably HUD multifamily financing and Federal Treasury New Market Tax Credits.

Rhode Island Station will be located adjacent to Rhode Island Place, developed in 2005, which was a breath of life to the struggling community. The new town center signifies continued reinvestment in a great community that has been struggling over the past 20 years.

Rhode Island Station is wildly popular among community leaders and is being strongly supported by a Who’s Who List of Washington DC. That list includes Mayor Adrian Fenty, Mayoral Candidate Vincent Orange, Advisory Neighborhood Commission President Willam Shelton, Brentwood Civic Association President Earline Frazier, DC Council Member Harry Thomas Jr. (D-Ward 5), Deputy Mayor Valerie Santos, and the list goes on and on…