MULTIFAMILY Projects
Roundtree Residences - 91 LIHTC Units
In partnership with Allen Chapel AME Church and NHP Foundation, Andy Botticello and CSMI completed the development of a Senior Living Facility. The facility features a total of 91 units. All of the units will be affordable, with, income limits of 60% of median income. The project includes amenities such as: cafe, club room, game room, coffee shop, library, computer lab and fitness center. Financing is from LIHTC, New Issue Bonds, NIF and HOME Funds from DHCD. Construction Financing is provided by Bank of America with the permanent loan from PNC and Freddie Mac.
Rolark Rendering – 140+ Apartments
The 140/200 unit building on Alabama Avenue named after former Ward 8 councilwoman, Wilhelmina Rolark. Rolark served on the Ward 8 council for 16 years from 1976 to 1993.
Congress Park Community Partners (CPCP) won a contract to build a multi-unit affordable housing building from the Office of the Deputy Mayor and Economic Development. CPCP is comprised of Banneker Communities, Congress Heights Community Training and Development Corporation (CHCTDC) and District Development Group (DDG).
Kentucky Courts - 26 Homeownership Units and 12 Public Housing Units
Mr. Botticello completed the demolition of an existing public housing project and creation of a new mixed income townhome community. Twelve of the homes were reserved for public housing residents while the balance were sold to market rate buyers. Prices ranged from $225,000 to $1 million. The site is immediately adjacent to the Capitol Hill historic district and sensitivity to the existing streetscapes and architecture were critical.
I7Solar - 26 Homeownership Units
The project features twenty six energy efficient condos with active solar power near H St. and Capitol Hill. Innovative architecture and energy efficiency set the project apart.
The development consists of stacked town homes over flats and townhomes with a total density of 26 units including 9 flats and 17 town homes with 12 units designated as affordable. The townhomes will feature 3 bedrooms 3.5 baths on two levels. The flats will provide two bedrooms and two baths on one level. Financing is provided by Washington First Bank with soft debt from the NSP through DHCD. Construction commenced in 2014 with completion scheduled for 2015.
Chatham Village - 93 Rental Units with 21 Affordable Senior Apartments
Chatham Village is a 93 unit mixed income apartment complex owned and operated by IDS. The Community features a rural setting and on site recreational facilities. The unique single level design allows each unit to have an individual entrance and porch. Interiors feature vaulted ceilings and bay windows, with fully equipped kitchens highlighted by a breakfast bar.
Permanent financing is thru Wells Fargo & Fannie Mae. The construction financing for the development consisted of tax exempt bonds, Maryland low interest loans and HOME funds.
Bryant St Condominiums - 28 Homeownership Units
Mr. Botticello developed this mixed income community in the Woodridge area of NE Washington. The development consisted of 28 affordable condominiums. The development involved the use of a vacant District site and the rehabilitation of a DCHA site. Prices ranged from $45,000 to $65,000. A mix of incomes were served through various creative sale and financing scenarios.
This development required extensive community input and the inclusive development process utilized resulted in overwhelming support of the project by the local neighborhood groups and the ANC. A full rehab, including exterior modifications completely changed the community and drove further redevelopment activities.
The project was financed by both public and private financing vehicles with Fannie Mae providing the private sector funds and DCHA providing the public funds.
Capitol View - 92 Co-op Units
Capitol View was a 92 unit cooperative conversion. Public Housing units were rehabilitated to create a new community, complete with new site infrastructure and all new interiors. Financing was thru a HUD grant of $3.5 million and a private loan from the National Cooperative Bank for $800,000. This project was undertaken as a joint venture with the Resident Council and WISH, a local nonprofit group and resulted in 50% of existing residents qualifying to purchase in the renovated redevelopment.
Renovations were completed without relocating residents off site.
Cambridge Housing Authority - 190 Section 8 Apartments
The development involved the complete renovation of 190 units of public housing. The project was acquired through the RAD program with HUD. IDS partnered with NHPF and the Cambridge Housing Authority as the developer and owner of the project. The project was financed with tax exempt bonds and LIHTC as well as an Energy Loan from the State of Maryland.
The project featured a mix of units from one bedroom through 5 bedrooms on a 23 acre site. The 88 buildings were configured as duplexes and fourplexes. Every unit was fully renovated with new open kitchens and new baths. New HVAC, plumbing and electric was installed as well as new flooring. Exteriors were upgraded with new siding and roofs. All windows and doors were replaced.
The renovations were undertaken with a substantial number of units occupied and most existing residents returned to the project after completion.