PENINSULA 88

Washington DC SW

Our largest investment to date, the Peninsula 88 project is the development of 110 waterfront condominiums (including private parking) and main floor retail space, overlooking both the Anacostia and Potomac Rivers.  This site and location offers the property unmatched water views of both eloquent and scenic rivers.  In addition, the property is only two blocks from the new $300 million DC United Soccer Stadium, seven blocks to Washington Nationals Baseball Stadium, and the newly completed South Capitol Street Bridge that crosses the Anacostia River.  Today Buzzard Point is one of Washington DC’s last large track redevelopment sites. The significant public investment planned will transform the public realm and accelerate redevelopment of the area.

 

Sponsor Partner:  Capital City Real Estate (CCRE)

Company Website

RIALTO

Washington DC NE

A seven-story, ground-up multi-family apartment (one/two-bedroom units), mixed-use property with ~4,300 sqft of retail space, 27 surface-level parking spaces, and 65 storage units. The 76 apartment units consist of floorplans ranging in size from 650 to 1,100 sqft.  Construction is complete and we received Certificate of Occupancy in March 2022. Approximately 40% of total units are leased with 90% occupancy expected in the coming months. Sale is projected for 3rd/4th QTR 2022.

The project borders four well established neighborhoods in the NE quadrant of Washington DC (Eckington, Bloomingdale, Edgewood and Brentwood) and is better known as “Rhode Island Row.” Rhode Island Row embodies urban style and energy, convenience and convergence. A lively scene of restaurants, shops and services, topped with bright and spacious apartments right on the Red Line.

Sponsor Partner:  Capital City Real Estate (CCRE)

Company Website

MAGNOLIAHAUS

Frederick, MD

The Magnoliahaus project is a joint venture ground-up residential apartment development and new construction located in the Tuscarora Flats neighborhood of Frederick, Maryland.  The project will consist of up to six multi-family buildings including a stand-alone clubhouse; 189 one-, two-, and three-bedroom apartment units; 290 parking spaces and a variety of tenant amenities.

Frederick, Maryland is considered one of the best places to live in the state, offering residents a dense suburban feel while affording most residents to own their homes. It is also considered a major biomedical hub housing the National Institute of Allergy and Infectious Diseases Integrated Research Facility at Fort Detrick and National Cancer Institute.

Sponsor Partner:  Capital City Real Estate

COMMODORE

Richmond, VA

The Commodore project is a joint venture ground-up mixed-use development and new construction property located in Richmond, VA.  The 7-story building will consist of 173 one-, two-, and three-bedroom residential apartment units featuring prime ground floor retail space (3,500 square feet) and 2-story below-grade parking (235 spaces) in Richmond, VA’s historic Manchester neighborhood.

The capital city of Richmond has a strong sense of history and is one of America’s oldest major cities.  It’s modern touch includes historic sites, museums and friendly neighborhoods. With easy access to Washington, D.C. and a pleasant residential setting, Richmond is a growing city with solid business, financial, health-care and quality of life industries. Insulated by strong economics, a young and vibrant millennial working class and several regentrifying urban neighborhoods, Richmond is an ideal real estate market for investment. Richmond’s economy is primarily driven by law, finance, and government, with federal, state, and local governmental agencies, as well as notable legal and banking firms in the downtown area.

Sponsor Partner:  Capital City Real Estate

THE INDIE (EDGEWOOD)

Atlanta, GA

Our first project in Atlanta, situated in the Old Fourth Ward district of downtown, the Indie project consists of a 12-story, 132,000 sqft residential building with 91 units, 186 parking spaces, and 15,900 sqft of total commercial leasable space. Originally slated as a mixed-use for sale, we have shifted to a mixed-use for lease and sale.

 

Sponsor Partner:  Capital City Real Estate (CCRE)

Company Website

BRIDGE DISTRICT

Washington, DC SE

This project consists of the development of up to 2.45M sqft of residential & commercial mixed-use space located in Washington DC SE.  The sponsor has decades of experience in real estate acquisition, entitlement, renovation & development of commercial, residential, multi-family and mixed-use properties. The project has the potential to last up to 10 years+ but  JIDI will look to partially liquidate this investment in late 2022.

THE ROYCRAFT (DREWRY)

Atlanta, GA

Our second project in Atlanta, Drewry (Roycraft) is a project situated in the affluent neighborhood of Virginia Highlands directly on the Atlanta Beltline. The current development plan includes, a seven-story, 50,000 sqft building consisting of five stories of 42 one/two-bedroom condo units ranging from 540 to 1620+ sqft and 64 garage parking spaces. Amenities will include a club room with a chef’s kitchen and a two-level lounge with views overlooking mid-town Atlanta.  Project completion is scheduled for late 2022 with closeout projected for early 2023.

Sponsor Partner:  Capital City Real Estate (CCRE)

Company Website

OPPORTUNITY ZONE DC

Washington DC

Together with our strategic partner, JIDI provided a unique investment opportunity for our accredited investors with capital gains in 2021 to invest in a ground-up residential and mixed-use property in Washington D.C.

WILLOWWOOD AND DORTON

Fairfax, VA and Charlotte, NC

In our 14th and 15th projects with Capital City Real Estate, (CCRE), Willowwood and Dorton are a combined joint-venture that combines two distinct residential development projects in Fairfax, VA and Charlotte, NC.

Willowwood is a seven-story, 292,000 square-foot apartment building consisting of 275 units, ancillary retail, and 600+ structured parking spaces in the City of Fairfax.  With 25,000+ residents, in a six million + DC region, the city of Fairfax is proximate to eleven Fortune 500 headquarters within its county, including Capital One, General Dynamics, Hilton Capital and Northrop Grumman.  Fairfax County is also home to offices of institutional companies such as IBM, Google, AT&T, and Deloitte. With a high median household income of $117K (US Census)and median property value of $589K it’s no wonder that Fairfax also sees some of higher average rental rates in the DC region. The City of Fairfax is also home to George Mason University, which hosts around 40,000 students each year, contributing to the demand for rental units in the area. Both Fairfax City and County will continue to see employer growth, evident by its established presence with renown companies, and experience a positive inflow of economic development for years to come.

Dorton is a two-part development of a ten-acre vacant property in the North Davidson district of Charlotte, NC into an amenitized 112-unit townhome complex and a 275 multifamily apartment complex. The townhome units come complete with 2-car garages and the residents will also have access to a private pool, dog parks, gym, and outdoor parks. The multifamily apartment complex will have garage parking, pool, fitness and business center. The development will appeal to renters who want to live in an inspiring urban community that provides countless dining options, lively bars and breweries, expansive assortment of retail, and a diverse selection of entertainment options.

Sponsor Partner:  Capital City Real Estate

OPPORTUNITY ZONE OH

Columbus, OH

Our latest real estate investment offering, for accredited investors only. Located in the River South District of Columbus, Ohio, this project presents an exciting investment opportunity to participate in the acquisition, development, and construction phase of an exceptional downtown project.  White Chapel Apartments is a five-story, 28,000 sqft, 39-unit residential multifamily apartment building for rent (one/two bed and bath), plus a three-story triplex building (three 654 sqft one bed/bath units) for rent, and a 1,120 sqft single family house.  Project completion is expected for 4th Quarter 2023 with leasing and stabilization to begin in early 2024.  This is a ten-year investment but investors may begin seeing cash flowing returns upon stabilization in Year 3/4.

Tax incentives on the investment include: deferred tax until tax year 2026; bonus depreciation (no recapture tax); and no capital gains tax on liquidated profits (federal and most states). The state of Ohio also provides a 10% tax credit that can be used to offset Ohio income taxes. If the investor is not a resident of Ohio or has not earned income in the state of Ohio, this tax credit can be sold with the investor receiving the fair market value of the tax credit as a one-time payment.