We provide development services to nonprofits including affordable housing providers, schools, churches and museums. Building Partnerships understands the challenges of nonprofits. For this project, we serve as the development consultant for a nonprofit on its development of a new shelter to assist families (particularly low-income families) experiencing domestic violence. Building Partnerships identified the site, assisted in obtaining acquisition funding and is involved in all aspects of pre-construction planning for the new development. We are centrally involved in identifying sources of funds including conventional debt, New Market Tax Credits, grants and local “C-PACE” funding related to sustainable energy improvements. Once complete, the facility will provide safe and supportive housing for as many as 700 survivors and their families each year, almost doubling the organization’s capacity to offer short-term housing for those in crisis. In addition to the shelter, the new facility will offer 16,800 square feet of nonprofit space. The $23 million dollar project will be financed by New Market Tax Credits, a $2.5 million dollar grant, permanent loan financing and a C-PACE loan.
Savoy Court Condominium Conversion
As developer partner to tenant associations and co-ops, we help tenants achieve their housing goals, whether it be long-term affordable housing, specific improvements/repairs, or a chance for home ownership at below market sales prices (condominium conversion). Savoy Court features a roof deck, gym and lavish courtyard. Savoy Court won top 4 residential rehab award from Washington Business Journal and has been a major contributor in the renewal of the neighborhood.
EQ Flats - Condominium Conversion, Congress Heights
Located four blocks from the Congress Heights metro station, EQ Flats offers one and two bedroom condominiums.
Edmund Burke School - Nonprofit Use
Adams Court - Condominiums, Retail, Columbia Heights
Developed by Bedford Plaza, LLC including Ernest Marcus as co-managing member - 68 apartments\ 18,000 sq. ft retail/commercial, - Negotiation with tenant group to obtain condominium conversion - Negotiation with existing retail tenants to relocate Construction/Renovation financing - Design of historic property into a mixed-use project in dense, urban location - Renovation required complete roof structure replacement including new steel beams - Management of extensive landscape design for courtyard - Utilization of former basement storage spaces as commercial space for non-profit group provided needed social services to the community including provision for first floor community art space. - Management of interior design process which incorporated existing building features where possible - Retail programming and leasing - First significant condo development in this emerging market/Successful sellout above pro-forma.
Developed by E&G Group with Michael Milliner acting as tenant consultant. - One of the first Limited Equity Cooperatives in early 80’s - Initial physical needs assessment - Preliminary financial analyses - Financing arrangements with DHCD - Architectural oversight - Developed as part of 1st LIHTC Cooperative project in DC - Successful renovations completed January 2012 - Affordable rents with option to repurchase.
Park Triangle - Apartments, Retail, Columbia Heights
Pacific House - Apartments, Office Condominiums - Dupont - TOPA
Developed by Pacific House, LLC, including Ernest Marcus as co-managing member. - 11 apartments - 18,000 sq. ft. office space - Awarded project after competition through tenant group which had first right of refusal to purchase through local D.C. law - Negotiation with tenant group to obtain condominium conversion for residential and office condominiums - Complex due diligence, including obtaining Certificates of Occupancy for office tenants which were not in place - Negotiation with existing office tenants to either purchase or relocate - Acquisition/Renovation financing - Successful marketing of office condominium project, a market niche in D.C. - Sellout of 11 residential units, including 4 to existing tenants.
Maycroft Apartments - Affordable Housing - Columbia Heights
Developed by Maycroft, LLC including Ernest Marcus as co-managing member. - 66 apartments total - 5,000 sq. ft. non-profit office space - Turnaround of project with chronic crime, delinquencies and vacancies - FNMA financing - Utilization of former storage space in basement for non-profit use which provided needed social services to the community - Preparation of detailed Hardship Petition per D.C. rent control regulations - Negotiations with tenant organization for preparation of a Voluntary - Agreement per D.C. rent control regulations. - Sold to non-profit housing provider who will retain as affordable project. Major donation made to purchaser to assist in financing. Michael Milliner acting as project manager for the buyer.
Barcelona & Verona Park Condominium - Columbia Heights
Developed by Triangle Development Associates II, LLC, including Ernest Marcus as member and co-project manager. - 63 apartments total, 2 buildings within close proximity, - Awarded project after public competition by quasi-public D.C. agency Acquisition/Construction financing - Management of design process for new construction in dense, urban neighborhood - Extensive construction and design related issues required careful management - Major flood due to pipe leak required 9 month delay – insurance claim management, construction cleanup and rehab oversight, negotiation with existing buyers. - Due to changes in market conditions and delay due to flood (see above), careful management of existing buyers and re-marketing of many units. - Management of punch list issues including negotiation of settlement agreements with resident associations. - Construction affiliate performed analyses of building punchlist and warranty issues, including reviews of third party reports. Performed corrective action through coordination with subcontractors.