WASHINGTON, DC – The District of Columbia Housing Finance Agency (DCHFA) has financed the rehabilitation of 202 affordable apartments at scattered sites across Wards 7 and 8. DCHFA issued $43.1 million in tax exempt bonds for the acquisition and rehabilitation of this 16-building community formerly known as WDC 1 which spans Anacostia, Marshall Heights and Fort Dupont. The Agency also underwrote $33.4 million in federal Low Income Housing Tax Credit (LIHTC) equity and $6.4 million in D.C. LIHTC equity to finance this redevelopment.
Preservation of existing affordable housing assets is an essential component of affordability, stated Christopher E. Donald, Executive Director/CEO, DCHFA. The residents at the Villages of East River will have their community renovated and modernized, while their rents remain affordable and allow them to remain in their neighborhoods.
The residents of the Villages of East River formed the Positive Change Tenants Association and exercised their rights under the D.C. Tenant Opportunity to Buy Act. They selected National Housing Trust Communities and IBF Development as the teams to rehabilitate their homes. The project will consist of restoring 16 buildings originally built between 1952 and 1967, and the total development cost of the project is $95.9 million. Additional funding came in the form of a $37.6 million Housing Production Trust Fund loan from the D.C. Department of Housing and Community Development.
Projects like this one are key to preserving affordable units, as we continue to make strides in the overall number of affordable housing units available to District residents, and continue to work towards the goal of 12,000 new affordable units by 2025 said Department of Housing and Community Development Acting Director Colleen Green. In that vein, we are thrilled to be part of the preservation of more than 200 homes.
The unit mix will remain the same in the existing buildings, to include 74 one-bedrooms and 128 two-bedrooms. Eighty-one units will be reserved for residents earning 60 percent or less of the area median income (AMI), and 80 units will be reserved for those earning up to 50 percent AMI. Forty-one units will be designated Permanent Supportive Housing (PSH) reserved for residents earning 30 percent or less AMI, and they will receive Local Rent Subsidy Program operating subsidy through the DC Housing Authority.
Renovations will take place in four phases with four buildings in each phase. Updates will include fully renovated kitchens, new roofs, repaired flooring, replacement windows, new hot water heaters, renovated bathrooms, new HVAC units, electrical upgrades, and the creation of accessible pathways. Once completed, there will be two new community centers among the Villages of East River (at 301 37th Street, SE and 450 1stStreet, SE). There will also be three new PSH offices within the community.
Through its Multifamily Lending and Neighborhood Investment and Capital Markets divisions, DCHFA issues tax-exempt mortgage revenue bonds to lower the developers costs of acquiring, constructing and rehabilitating rental housing. The Agency offers private for-profit and non-profit developers low-cost predevelopment, construction and permanent financing that supports the new construction, acquisition, and rehabilitation of affordable rental housing in the District.

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LOS ANGELES, CA – Landmark Properties, a fully-integrated real estate firm specializing in development, construction, investment management, and operation of high-quality residential communities, announces plans to develop a second student apartment community in the Los Angeles market. Construction is scheduled to start by the end of 2023 on the 435-unit community located 0.3 miles from The University of Southern California’s campus. The new residential community will be one of the largest purpose-built student housing developments at USC. While plans are still progressing, Landmark expects to deliver more than 1500 beds for the Fall of 2026.
“We are excited to break ground on our first project at USC,” said Landmark President and CEO Wes Rogers. “As the nation’s largest developer of student housing serving students at Tier 1 universities across the country, we have been attracted to the USC market for some time. We look forward to providing more USC students with a luxury off-campus living option steps from campus.”
Located at the corner of West 39th and South Figueroa streets in “the New Ninth” district of Los Angeles, the site was bought from Ventus Group, an Orange County based mixed-use developer. “This was a complex land assemblage and entitlement process that our team worked on for many years to make this rare, urban infill opportunity,” said Scott Gale, CEO of Ventus Group. “A project of this magnitude requires patience, persistence and vision, and it is rewarding to be an integral part of something that is set to have a huge impact.”
“This asset represented a right labor of like given the difficulty and time associated with the land assemblage,” said Kevin Shannon, Co-Head of Newmark’s U.S. Capital Markets group. “This best-in-class student housing development will be an attractive addition to the USC community.”
The residential community will offer several distinct floorplans, ranging from studio to five-bedrooms. The careful design of these units will stand out to potential residents when weighing options among comparable apartments. The development will also include 87 units reserved for those identified at the low-income level or below.
Apartments in the development feature a gourmet-style kitchen with ample cabinet space, quartz countertops and stainless appliances. Each residence comes fully furnished with washers and dryers, offers luxury vinyl tile flooring, and includes technology-related amenities in the common living area, along with high-speed internet and cable included with rent.
Additionally, residents will delight in clubhouse and social amenities in several areas of the community, most notably on the rooftop level adjacent to a resort-style pool. The lounge, computer lab, and fitness center amenities will be open 24-hours for convenience. The rooftop outdoor amenity spaces add more opportunities for recreation and socialization with a grilling area and pool. In addition to the fully programmed amenity package, the apartment community will include over 20,000-square-feet of retail fronting Banc of California Stadium. Onsite parking will be available for residents and retail guests.
Construction on the development is expected to be complete ahead of the fall 2026 semester. The proximity to campus attractions will provide quick and convenient options for students commuting to and from campus. In addition to on-site retail, residents will be a brief stroll to well loved shopping and restaurants, including Chick-fil-A, Subway, and McDonald’s.
Landmark Urban Construction will serve as general contractor for this project. Newmark’s Shannon, Executive Managing Directors Ken White, Greg Galusha and Bryan Norcott, Vice Chairman and Head of Newmark’s Student Housing group Ryan Lang and Director Jack Brett, in cooperation with Senior Managing Director Chris Benton and Managing Director Anthony Muhlstein brokered the deal, along with Eric Bergstrom at Bergstrom Capital Advisors.
The University of Southern California is the oldest private research university in the state and has an enrollment of 49,500 students.

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TAMPA, FL – Middleburg Communities announced it closed on two land parcels totaling 49 acres adjacent to Friendly Way located off of FL-54 in Wesley Chapel, Florida, a submarket of Tampa. Leveraging its in-house construction capabilities, Middleburg plans to develop two residential communities: Mosby Avalon Park, a 338-unit traditional apartment community, and Hamlet Avalon Park, a build-to-rent community with 260 single-family homes, duplexes and townhomes. Construction will commence immediately on the Mosby component while Hamlet Avalon Park is plotted as a future phase.
“These projects in Wesley Chapel represent our largest development investment to date and our fifth acquisition in Florida during the past year. We re grateful for our investment partners and Synovus Bank for having confidence in our ability to do. Our development and construction teams are keen to get started in earnest and we look forward to our grand opening next year.
The convenient location of the community, approximately 30 minutes from downtown Tampa, offers exceptional access to job centers and regional demand drivers. Mosby and Hamlet Avalon Park are part of the Avalon Park Wesley Chapel master-plotted community, which is situated on over 1,600-acres and is entitled for 4,800 residences units and 500,000 SF of retail and commercial space, much of which has already been delivered or is currently under construction.
Mosby Avalon Park will feature one, two and three-bedroom units in four-tale elevator-served buildings with quartz countertops, stainless steel appliances, and luxury vinyl plank flooring. Amenities include a resort-style pool, fitness center, dog park, and pet spa.
Hamlet Avalon Park will offer one, two, and three-bedroom floorplans with a mix of cottages, duplexes, and townhomes, each with private entries, patios, and yard space and attached garages in select units. Interiors will feature quartz countertops, stainless steel appliances, and luxury vinyl plank flooring and the community will include numerous neighborhood parks and green space, a resort-style pool, fitness center, dog park, and pet spa.
Mosby Avalon Park and Hamlet Avalon Park are Middleburg s first entrance into the Tampa Metropolitan Statistical Area (MSA), one of the fastest growing markets in the country. Middleburg s growing Florida portfolio includes three assets in Orlando – Mosby Citrus Ridge, a 300-unit Class A multifamily community currently under construction, Indigo Champions Ridge, a 300-unit Class A multifamily community currently in lease-up, and The Baldwin, a 270-unit Class A multifamily community – and one asset in Yulee, Hamlet Wildlight, a 250-unit Class A built-for-rent community currently under construction.

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