DMPED: Sheridan Station

Sheridan Station joins Matthews Memorial as another development opportunity that will provide high quality housing options for District residents that and expand mixed-income communities in Ward 8. The District, along with its development partners will deliver this large-scale housing project which will total 344 new multifamily units, townhomes, Manor Flats and three tot lots.

The project will provide 65 replacement housing units for Barry Farms residents, with 25 units to be delivered in 2011 and 40 units to be delivered in 2014.Project will be developed in 3 phases: Phase 1 - Multifamily Rental (104 units), Phase 2 - Townhomes (10 Rental & 80 For-Sale Units), and Phase 3 - Townhomes (61 Rental & 89 For-Sale Units).

Development Partners

W.C. Smith & Co., The Jackson Investment Co. & Union Temple CDC

Location

Bounded east of Suitland Parkway and south of martin Luther King, Jr. Avenue, SE

Next Steps

District of Columbia CHFA Board to review DCFHA Application in August 2009
Application to be submitted for HUD Stimulus funds ("Creation of Green Communities") for Phase III & IV funding gap
Negotiate Term Sheet
Execution of Funding Agreement anticipated by fall 2009
Closing on Phase 1 Multifamily & Phase 2 Rental Townhomes anticipated in fall 2009
The District aims to break ground on the site in fall 2009

Development Program

Residential: 344 multifamily units and rental townhomes (total over 3 phases)
Phase 1: Multi-family Rental (104 units)
Phase 2: Townhomes (10 rental & 80 for-sale units)
Phase 3: Townhomes (61 rental & 89 for-sale units)
Land Area: : 9.8 acres
Development Cost (Phase 1): $100 million

Community Benefits

Civic Investments

Draw hundreds of new residents to high quality housing units and generate new mixed-income communities east of the Anacostia River.
Replacement housing units for nearby Barry Farm residents.
Improved connections between the Anacostia River and Historic Anacostia, Barry Farm and other surrounding communities

Economic Opportunities

Hundreds of new housing units at affordable and market rate price ranges