![]() ![]() Of the 136 units, 68 will be available to households earning 30 percent of the area median income and 68 for households earning at 50 percent of the area median family income (FMI). The 30% proportion of units designated for affordable housing is more than twice as high as the regional average. Affordable housing is a top priority for the Waterfront Station II project and was made possible through a partnership with AHC Inc., an affordable housing developer that works across DC, Virginia, and Maryland. The residential component includes studio, one- and two-bedroom units, 30% of which (136 units) are set aside for income-qualified households earning up to 30% or 50% of area income. The development team is a partnership comprised of four organizations led by Hoffman & Associates. The latest commitment of $25M is for the development of Waterfront Station II, a 449-unit mixed-use, mixed-income apartment project with approximately 29,000 SF of retail located at 1000 4th Street, SW. ![]() The transaction is the fourth project capitalized by Grosvenor’s True North III Partnership , established in July with $300M to invest in equity and equity-like opportunities. ![]() Grosvenor Americas, a privately owned international developer and owner, announces that its Structured Development Finance business has formed a joint venture with Hoffman & Associates to build Waterfront Station II, a mixed-use, mixed-income development. ![]()
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