Rockville
REAL ESTATE
Affordable housing community in Hybla Valley aims to fill up by fall
Just over a year has elapsed since the celebratory ribbon-cutting ceremony at the Residences at North Hill, the 279-unit affordable housing community in Hybla Valley. The opening of the apartment community, which consists of four individual/family housing buildings and a separate building for active adults over age 55, was described in June 2023 as “a key contribution to Fairfax County’s long-term vision for the Mount Vernon District and for the Richmond Highway Corridor.”
McLean estate once visited by Amelia Earhart now on housing market
For just under $40 million, you could stand on the same ground where Amelia Earhart once landed an airplane. Ballantrae Farms, a 6.3-acre McLean estate whose house pre-dates the American Civil War, is currently up for sale with an initial asking price of $39.995 million. The property’s “storied past” includes a landing by Earhart in the 1930s, according to a listing that Washington Fine Properties posted last week.
NewPoint Provides $22.3M in Freddie Mac Workforce Housing Preservation Financing for Maryland Multifamily Communities Tudor Place and Canonbury Square Apartments
NewPoint Real Estate Capital has provided $22.3 million in Freddie Mac Workforce Housing Preservation financing to NOVO Properties to refinance Tudor Place Apartments and Canonbury Square Apartments – neighboring garden-style multifamily communities located in Takoma Park, Maryland. The refinancing was originated by Martin Fayer, Senior Managing Director at NewPoint....
TOPA Needs Capital to Succeed
At LISC, we were pleased to see recent reporting on Washington, D.C.’s Tenant Opportunity to Purchase Act (TOPA) by Roshan Abraham in Shelterforce/Next City, including his article on the unique model pursued by the Baldwin House collective (“How ‘Tenant Stewards’ are Using TOPA to Form a Co-op”). Abraham uplifts the vision and purpose of this unique co-op, but emphasizes their uncertainty about how they will be able to pay back the loan that allowed them to make the purchase.
Single-, Multi-Family Housing Headed on Opposite Paths
WASHINGTON, DC — Fueled by a lack of existing inventory and pent-up demand, single-family permit growth is occurring across all tracked geographic regions of the nation while the opposite holds true for the multifamily sector, according to the latest findings from the National Association of Home Builders Home Building Geography Index (HBGI), a quarterly measurement of building conditions across the country.
NEW: Developer plans next phase of Reston Town Center expansion
Boston Properties is betting on office for the next phase of its Reston Town Center expansion. The developer submitted plans to Fairfax County on Saturday (June 29) that would increase the amount of office space allowed in the mixed-use neighborhood dubbed RTC or Reston Next that’s now under construction near the Reston Town Center Metro station, while decreasing retail, hotel and residential uses.
Eastern Union brokerage bolsters Mid-Atlantic presence
Eastern Union, a national commercial real estate finance firm, has announced the addition of Alex Carroll (pictured) as a broker in its mid-Atlantic regional office in Bethesda, Md. Carroll will primarily focus on business development and commercial mortgage origination, working under the supervision of senior managing director Marc Tropp. Tropp,...
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