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PROJECTS
Maycroft Apartments - Affordable Housing - Columbia Heights
Developed by Maycroft, LLC including Ernest Marcus as co-managing member.
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66 apartments total and 5,000 sq.ft. non-profit office
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Turnaround of project with chronic crime, delinquencies and vacancies
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FNMA financing
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Utilization of former storage space in basement for non-profit use which provided needed social services to the community
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Preparation of detailed Hardship Petition per D.C. rent control regulations
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Negotiations with tenant organization for preparation of a Voluntary Agreement per D.C. rent control regulations.
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Sold to non-profit housing provider who will retain as affordable project. Major donation made to purchaser to assist in financing. Michael Milliner acted as project manager for the buyer.
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