Comstock, Stratford Capital Group plan transit-oriented housing near DC

Comstock Homes of Washington is teaming up with real estate investment company Stratford Capital Group on a transit-oriented, multifamily project located near a key Maryland suburban station in Washington, DC's Metro rail system. The proposed four-story building will contain 110 workforce-housing units atop two levels of covered parking. Construction is expected to begin this summer and take one year. The companies are seeking financing through the U.S. Department of Housing and Urban Development's Program Section 221(d)(4), in addition to the county and the state. Dive Insight: Transit-oriented developments are gaining traction nationwide, and DC is no exception. While real estate development around the district's Metro stations totaled $50 billion in 2015 alone, however, the system itself is creaking under the weight of insufficient investment. Plagued by chronic delays,...

Full article: http://www.sustainablecitiescollective.com/construction-d...

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