WASHINGTON, DC – The District of Columbia Housing Finance Agency (DCHFA) issued $51.2 million in tax exempt bonds and underwrote $31.5 million in federal Low Income Housing Tax Credit (LIHTC) equity for the construction of Park Morton Phase I. A part of the Deputy Mayor for Plotting and Economic Development New Communities Initiative, this project will help revitalize this transit-oriented, amenity-rich neighborhood and provide 40 public housing replacement units.
The Park Morton redevelopment has been a labor of like. The journey for this project has taken over a decade and under Mayor Bowser s leadership we have finally crossed the end line. Ward 1 is a community of opportunity; the residents who live in this redevelopment will be close to transit, amenities, strong schools and employment centers, stated Christopher E. Donald, Executive Director/CEO, DCHFA. Residents should have the opportunity to live in healthy, gorgeous, affordable housing in all of the District s fantastic neighborhoods. Park Morton will grant that opportunity to 142 individuals and families.
The $105.3 million development will consist of 19 efficiencies, 73 one-bedrooms, 49 two-bedrooms and one four-bedroom unit. All units will be reserved for residents earning 80 percent or less of the area median income (AMI); the 40 replacement public housing units will be reserved for individuals earning 30 and 50 percent or less AMI.
The Community Builders and Dantes Partners are the developers of Park Morton Phase I. The property will be Enterprise Green Communities certified, and it will include a rooftop solar system and 14,000 square feet of green roof area. Other amenities will include a rooftop lounge, fitness room, courtyard spaces, meeting lounges, a pet grooming room, bike storage and 71 garage parking spaces. The garage parking will be free on a first come first served basis. Residents will be only 0.3 miles from the Petworth Metro Station.
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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HOUSTON, TX – RPM Living announces the acquisition of Ashton on West Dallas in Houston s Montrose submarket, in the heart of the city s urban core. The acquisition marks RPM s 17th acquisition in the greater Houston area and the wrap-style community is the second Houston asset to be added to the RPM Multi-Family Fund I portfolio.
Located within walking distance to Houston s expansive Buffalo Bayou Hike and Bike Trail, Ashton on West Dallas is in a highly convenient location with immediate access to the city s central business district and multiple city parks. Surrounded by Houston s most vibrant entertainment districts and attractions, the community is near a variety of neighborhood bars and retail that make up the Montrose, Midtown, and Washington Ave. neighborhoods.
Built in 2013, Ashton on West Dallas features 246 units with 10-foot ceilings throughout, elevator-serviced corridors, and a stand-alone 24-hour fitness studio. Modern one- and two-bedroom residences have floor-to-ceiling windows, wood floors, and stone counters.
Ashton on West Dallas provides us fantastic opportunity with the potential for outsized rental growth given the area s limited construction pipeline and Class A absorption projected to remain strong in light of the increased cost of home-ownership and Houston s consistent population growth, says Hank Farrell, Chief Executive Officer of RPM Living Investments.

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ROCKLEDGE, FL – CONAM Multifamily Partners Fund III, a discretionary fund sponsored by The CONAM Group, announced the buy of Rockledge Flats, a Class A, 247-unit multi-family apartment community near Florida s Space Coast in Rockledge, Florida.
Completed in late 2021, the 10-acre luxury apartment community consists primarily of two four-tale elevator-served structures housing 247 units. A standalone, single-tale building serves as the leasing office and amenity clubhouse and features a 24-hour fitness center, resident lounge with billiards table, and conference room.
Positioned north of the indoor amenity structure and between the two four-tale residential structures is an outdoor kitchen with two gas grills and an oversized zero-entry pool with pergolas, lounge seating, and a poolside firepit. The best-in-class apartment interiors boast 10 ceilings, abundant natural light, stainless steel appliances, quartz counters, ample storage and closet space, and full-size washers and dryers.
Residents at Rockledge Flats have an simple commute to the robust job centers of the Space Coast, and an influx of local businesses attracted to Rockledge s main street initiative has contributed to a thriving local community centered nearly directly in front of the property. In further benefit to Rockledge Flats residents, the broader region has seen surging employment in technology industries, specifically the high-wage scientific research and development sector, which has grown over 75% in the past five years. Residents also benefit from the newly constructed Publix-anchored retail center located a small distance from the property, plus the abundance of desirable amenities in the master-plotted Viera community quickly accessible via US HWY 1.

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