WASHINGTON, DC – Dec. 4, 2019 – WC Smith held the ribbon cutting for its newest residential property, the City View apartments, Dec. 3, welcoming DC Department of Housing and Community Development Deputy Director Drew Hubbard and DC Housing Agency Executive Director Tyrone Garrett to celebrate this class-A affordable housing development in Ward 8.
City View Apartments is a 58-unit development adjacent to Sheridan Station. The building has an Energy Star roof, Energy Star windows, and energy efficient individual HVAC and hot water heaters. Kitchens feature stainless steel Energy Star appliances, including dishwashers and microwaves. Every unit has an individual washer and dryer. The site enjoys panoramic views of the Washington skyline.
Formerly called Sayles Place, City View is the final element in the rebuild of the former, troubled Sheridan Terrace. The first three phases at Sheridan Station delivered 327 mixed-income, mixed-tenure units along the Suitland Parkway.
City View was awarded 9% LIHTC allocation from DHCD and secured commitments from SunTrust for the Low Income Housing Tax Credit (LIHTC) equity and debt financing. WC Smith worked with DCHA to house at City View some residents who were displaced by the 2018 fire at the Arthur Capper dwellings.
Of the 58-units, 90% are affordable, including units for permanent supported housing in partnership with the District’s Department of Behavioral Health, annual contributions contracts units, units for residents earning 50% or less of annual median income and units for residents earning 60% or less of annual median income (AMI).
Nearly 75% of the City View apartments have been pre-leased.
“The opening of City View marks an exciting new chapter for WC Smith and our residents in Ward 8,” said WC Smith CEO Chris Smith. “We’re committed to developing high quality affordable housing for all. And we thank our government and financial partners who were instrumental in helping us reach this milestone.”
ABOUT WC Smith
WC Smith (www.wcsmith.com) is a Washington, DC-based multidisciplinary real estate firm, providing integrated property development and property management services to the Washington metropolitan area for more than 50 years. Since our founding in 1968, we have built communities across all 8 wards of Washington that uniquely combine the city’s long-term vision for growth with our residents’ vision for how a neighborhood best serves their needs and desires.
Supported by a dedicated workforce of more than 600 employees, WC Smith continually compiles and manages a portfolio that ranks us in the top-10 of commercial real estate developers in the Washington region. Our development expertise is wide-ranging: we acquire, renovate and reposition market-rate and affordable multifamily communities, repurpose obsolete facilities and build new office, residential and mixed-use properties. Recognized and respected as one of the most experienced and capable property management firms in the Washington metropolitan area, WC Smith manages more than 11,000 rental, condominium and cooperative units valued in excess of $3.5 billion.