Eleven Parkside - Washington D.C.
Opportunity Zone development project of 191-unit, market (rental) rate, workforce housing called Eleven Parkside in Washington, D.C. Groundbreaking occurred May 4, 2020 with expected completion in December 2021.
Joint venture development with CityInterests Development Partners LLC, a fully integrated real estate development firm focused on the mixed-use urban revitalization of underserved areas of Washington, D.C.
Project part of the ongoing investment in the 26 acre, 3.1 million sq. ft., mixed used transit-oriented community of Parkside, that “merges urban convenience with community values.” Parkside (www.parksidedc.com) is located directly across the street from the high-density Minnesota/Benning Metro station and Metrobus stations.
Proudly utilizing this Opportunity Zone investment as an Impact Investment in a community that will benefit from additional housing, which in DC is in very short supply. As Jim Solomon has stated, “Parkside is the type of investment we had been looking for. The Opportunity Zone legislation baked into the 2017 Tax Cuts and Jobs Act was intended to devote capital, both financial and intellectual, to underserved communities. While CityInterests has done most of the work to create and make Parkside prosper, we are glad to be a partner in its growth.”