Fairfax City Council says ‘yes’ to new apartments at WillowWood Plaza

Fairfax City will soon see the construction of a seven-story residential and retail building next to WillowWood Plaza along Eaton Place following a near-unanimous vote of approval from the city council earlier this week.

The new development, dubbed “N29 Apartments,” will replace a 328-space, 2.96-acre parking lot at 10306 Eaton Place, adjacent to a 1980s-era office complex.

First proposed in 2022, the project includes 260 residential units — 16 of which will be affordable single and two-bedroom units. It will also have 5,000 square feet of retail space and a 10-level parking garage.

The mixed-use development, which was approved by the city planning commission in April, marks the initial phase of a two-stage project by D.C.-based developer Capital City Real Estate.

Read the full article at https://www.ffxnow.com/2024/07/11/fairfax-city-council-says-yes-to-new-apartments-at-willowwood-plaza/

Passive Real Estate Investing Webinar Series

JID Investments is pleased to present our seven-part webinar series on passive real estate investing. In this series, JID founder and COO, John Rubino provides a fantastic overview of the key aspects to consider when investing passively in real estate development. projects.

Series Part I – Forming the Right Team

Series Part II – Sponsors/Developers

Series Part III – Location Location Location

Series Part IV – Types of Real Estate Development Projects for Investment

Series Part V – The Capital Stack

Pat VI – Due Diligence

Part VII – The Waterfall

All episodes can be viewed on YouTube at: https://youtube.com/playlist?list=PL5EsgKk_SA2rmgqsjdCnFBW2FPELGeilO&si=PATc5mLXTvuleJky

JID Investments attends two events in Atlanta

JID Investments’ Founder and COO, John Rubino and CFO David Shatz along with several investors joined Capital City Real Estate this week for two events in Atlanta, GA spotlighting two major project investments. The first event provided JIDI investors with a private tour of The Roycraft, a 42-unit residential condo development in the Virginia Highlands neighborhood. The tour was followed by a cocktail reception. The second event was the grand opening of The Indie, a 76-unit residential apartment development in the Old Fourth Ward neighborhood. Both events were very well received and provided investors with a first-hand look at two major development projects in Atlanta. Both projects are expected to be completed by late 3rd Quarter 2023.

JID Fully Funds 29th Investment – City House Charleston

JID Investments LLC (JIDI) is very pleased to announce that we have fully funded our latest investment – City House Charleston.  JIDI, along with our newest Sponsor/Developer partner, Landmark Partners will participate in the new construction of a 4-story, 21-unit luxury residential multifamily condominium for sale (two/three bed and two and a half/three and a half bath) and commercial building for lease (retail, gym, restaurant) in the French Quarter district of Charleston, South Carolina.

Condominium units will range from 1,525 – 4,228 sqft (total unit sqft), including four penthouse units and showcase magnificent views of downtown Charleston. Sale prices range from ~$1.7M – $4.8M. Landmark has presold 13 units (62% of the total number of units). JIDI investors will exit the project upon sale and closeout of the final condominium unit(s). Our projection is to be 100% presold by CofO/delivery in 4th QTR 2024.

JIDI is providing $1.5M of equity as a Limited Partner to the project. JIDI accredited investors were offered 60 units of investment at $25,000 each.  This is JIDI’s 29th project investment since our inception in April 2013. We have invested over $34.7M on these 29 projects with 17 going full cycle.

Investment Details:

Project Name:                                                 City House Charleston

Location (City/State):                                     Charleston, South Carolina

Project Type:                                                   Residential and Mixed-Use Commercial

JIDI Raise Amount:                                        $1,500,000

Investment Unit Dollar Amount:                    $25,000 (60 units)

Projected Length of Investment:                    2 years

JIDI Projected Investor Returns (IRR):          16% (includes a 12% preferred return)

JIDI Projected Investor Equity Multiple:        1.32x

JID Completes 18th Investment – Peninsula 88 Condominiums in Washington DC SW

JID Investments is pleased to announce that we have completed our 18th investment opportunity! Peninsula 88 is an eight-story, residential condominium for sale, mixed-use property and featuring 110,000 sqft of waterfront property located in SW Washington DC. Directly seated on the southwest confluence of the Potomac and Anacostia Rivers, offering unmatched water views and only blocks away from both the DC United (Audi Field) Soccer Stadium, Washington Nationals Baseball Stadium, and Capital Riverfront.  The project consists of 110 luxury condos with two-level underground parking and 1,800+ sqft of ground floor retail space. Condos units range from 650 to 1500+ sqft and are priced from $500,000 to $1,700,000. The property was also just recently Winner – “Best Washington/Baltimore Highrise Condominium Community” in Delta Associates’ 25th Annual Multifamily Award.

JIDI raised $4.4M in equity for the project and returned more than $2.8M in profits to investors. We are very pleased with this investment and would like to thank our Sponsor/Partner Capital City Real Estate and our family of investors for this wonderful opportunity!