Arthur Capper/Carrollsburg Redevelopment, Washington DC
Master Developer
Public-Private Partnership
Innovative Financing
Community-Inclusive
Emerging Market
Challenge
For nearly two decades, Urban Atlantic has been spearheading the transformation of 23 acres of formerly dilapidated and aging public housing into a vibrant, mixed-use, mixed-income community in the heart of the Capitol Riverfront. In partnership with the District of Columbia Housing Authority and in a joint venture with Brookfield (formerly Forest City), Urban Atlantic has managed the complex challenges of urban infrastructure development, multi-layered mixed finance, early development in an emerging market, and mixed-income housing—both rental and for-sale. This successful redevelopment has been a key catalyst in creating one of Washington’s fastest growing and most desirable neighborhoods.
What We Did
Through a community-centered planning process, Urban Atlantic led the creation of a development plan for more than 1,600 residences that include senior, affordable, workforce and market-rate housing in for-sale and rental townhomes, apartments and condominiums, with one-for-one replacement of public housing units spread seamlessly throughout. The residential development is complemented by planned commercial office and retail, a state-of-the-art community recreation center, and exceptional outdoor amenities that include the world-class Canal Park. Along with its partners, Urban Atlantic oversaw the disposition and transition of federal and local land, as well as the creation of a new street grid, with gracious blocks, multimodal paths, open spaces, and all new infrastructure. Through collaboration with the community, the plan put the development of new affordable senior housing first so that senior public housing residents would move only once, avoiding multiple relocations. Urban Atlantic spearheaded efforts to secure and leverage a $39 million federal Hope VI seed grant into a more than $1 billion redevelopment. Ultimately, project sources include federal and local grants, Payment in Lieu of Taxes (PILOT), Low income Housing Tax Credits, New Market Tax Credits (NMTC), EB-5, tax-exempt bonds, federal and local operating subsidies, and conventional debt and equity.
Vision Realized
One of the nation’s largest Hope VI public-private developments, Arthur Capper/Carrollsburg on completion will see more than $1 billion in public and private investment. In addition to Capper Senior, Urban Atlantic to date has overseen the development of 374 luxury apartments at the Bixby and Harlow, of which 20% are public housing units; Capitol Quarter Townhomes, which encompasses 138 market-rate for-sale units, 76 workforce for-sale units and 99 public housing rental units; and 400 M Street with 139 apartments for workforce renters. The three-acre Canal Park and approximately 30,000-square-foot Capper Community Center were also made possible through community planning and infrastructure development by Urban Atlantic.