Tuesday, May 16 2017
Metro DC developers aware of the affordable housing crisis in Washington, DC, struggle to balance developing market rate residences with creating affordable housing units. How can developers balance the needs of the city with profitability so everyone wins?
Jamie Weinbaum, Executive Vice President of MidCity Development, will discuss MidCity’s current challenge to develop 20 acres in Washington, D.C. into a mixed-use and mixed-income community. Weinbaum has been working with the District to both recreate the affordable housing stock currently occupying the site, while also delivering an unprecedented number of market rate units. This new mixed-use redevelopment puts Weinbaum at the forefront of creating affordable housing opportunities at for-profit developments.
Case study features: RIA, a mixed-use, mixed-income redevelopment, is the centerpiece of the District of Columbia’s revitalized Rhode Island Avenue Corridor in Northeast. This 20-acre mixed-use development will feature 1,760 new residences, including a 200-unit affordable housing building for seniors, local shops and retailers, pedestrian promenades, and green space via a community-driven design approach. The housing options at RIA will include rental apartments, townhouses, and market-rate and affordable housing. MidCity Development aims to preserve the historic fabric of the Brentwood Village neighborhood developed nearly 80 years ago, while creating a new era of growth and opportunity for Northeast DC.
Presented in partnership with Yachad
Yachad brings communities together to preserve affordable housing and revitalize neighborhoods in the District of Columbia and the metropolitan area. Yachad, which means together in Hebrew, mobilizes volunteers, invests financial resources, and works together to transform people and properties.
About this series:
More than simply shining a light on the District’s ongoing affordable housing crisis, the Housing Matters series features speakers and case studies from here and abroad that offer real-world solutions that could make an impact here in DC.
How can designers, developers, and architects lead this initiative to better serve the needs of low and middle-income residents and families? Join us at Housing Matters to find out.
After attending this course, participants will be able to:
1. Discuss the challenges of including affordable housing units in for-profit developments while maintaining profitability;
2. List the different types of housing that will be included in RIA and how they will create a mixed-income community;
3. Describe how RIA is expected to revitalize the Rhode Island Avenue Corridor through the addition of housing, retail, and green space; and
4. Summarize the relationship between MidCity Development and the District and how their partnership aims to increase affordable housing.