Phyllis Wheatley YWCA
This project is located at 901 Rhode Island Avenue, NW.
Role on Project: Dantes Partners partnered with the Phyllis Wheatley Young Women Christian Association, Inc. to finance and renovate the Phyllis Wheatley YWCA in the Shaw neighborhood of Northwest, DC. The $17M project, completed Winter 2016, preserved 84 affordable units for the building’s current population of low-income and vulnerable women.
By partnering with the DC Housing Authority and utilizing Replacement Factor Funds as well as securing ACC operating subsidy combined with local rental subsidy for 100% of the units – the project effectively created new public housing units for the DC Housing Authority. The blended subsidy marks the first time in the country that public housing subsidy has been combined with a local rent subsidy program.
The renovation of the historic building – originally constructed in 1920 – was financed utilizing a combination of 9% LIHTC, DHCD gap financing, DCHA capital funds, a PACE Assessment via the District Department of Energy and Environment, and deferred developer fee. The innovative project was designed to ensure the building’s pre-renovation residents could remain in their homes and not be displaced. Rental rates remained affordable, and the building’s pre-renovation residents did not see their rents increase thanks to the innovative rental subsidy structure.
The renovated building features solar panels and upgraded energy and water fixtures to help the property run more efficiently and result in significant energy savings above pre-renovation levels. The lowered utility and operating expenses eliminated the need to pass on costs to the residents in the form of rental increases. In addition, amenities include updated laundry facilities, green outdoor space, and more common areas to foster resident interaction.
Twin Parks West/Highbridge Franklin
Role on Project: Dantes Partners along with its partners are preserving 649 units for New York City Housing Authority. The structure requires entering into a 99yr ground lease for both RAD and Section 18 conversions. The tenant in place renovations includes new kitchens, bathrooms as well as living areas. Building systems, exterior envelops and common areas to see improvements as well.
Gilbane Development Company, Dantes Partners, Kraus Management & Apex Construction
Highbridge Franklin: 335 units
Twin Parks West: 312 units
Approximately 202,600 GSF
$162M Total Development Cost
100% Affordable via a MAP Contract (50% AMI and below)
Pin Oaks Estates
Dantes Partners, consultant in partnership with Bank of America CDC, was co-development consultant to assist the Petersburg Redevelopment and Housing Authority for the redevelopment of Pin Oaks Estates – a decades-old public housing in Petersburg, VA. Pin Oaks I is the first phase of the redevelopment effort that will bring brand new public housing replacement units to the site. The first phase will offer 98 one-, two-, three- and four-bedroom apartments, 10 of which will be handicap accessible. Returning residents will enjoy updated apartments, a computer lab and more. The $24.9M development commenced construction in 2021 and is scheduled for completion prior to the end of 2022.
Dantes Partners, Bank of America CDC, Petersburg Redevelopment and Housing Authority
Approximately 135,000 GSF
$24.9M Total Development Cost
Received $1.2M 9% LIHTC Award from Virginia Housing Development Authority in 2017
Closed Q3 2021
The Park Morton Redevelopment is anticipated to be completed in 3 phases. Each of the phases (Phases 1 and 2 – Park Morton Proper; Phase 3 – Bruce Monroe) will be financed utilizing tax-exempt bonds (debt), equity from the sale of LIHTC (4%), New Communities Initiative gap financing, and deferred developer fee.
Leveraging its track record of developing and preserving complex affordable housing communities, Dantes Partners, in partnership with The Community Builders, was selected to redevelop the Park Morton public housing complex in the Park View neighborhood of Washington, DC – a targeted site of the District’s New Communities Initiative. The 456-unit redevelopment will be completed in multiple phases creating a mixed-income community consisting of public housing, affordable and market-rate units; and features 1-for-1 replacement of the existing public housing units. Park Morton Proper will serve as the first and second phase of the redevelopment. Phases 1 and 2 will be developed on the site of the current Park Morton Public Housing development and will include 142 multifamily units and 41 townhomes, 40 of which will be public housing replacement units. Phase 3 will include 273 units, 90 of which will be public housing replacement units. The $200 million redevelopment is slated to begin in 2022. The DC Housing Authority is a joint venture development partner and co-owner. The project will be funded by DC Housing Finance Agency, New Communities Initiative Fund – via The Deputy Mayor of Planning and Economic Development and 4% LIHTC equity.
Park Morton will become part of a new mixed-income and mixed-use development along highly trafficked Georgia Avenue Corridor. This includes a proposed new development utilizing a city-owned site to create a mixed-income community that includes replacing all of the existing units at Park Morton, and the redevelopment of the existing Park Morton Site.
The Community Builders
456 units | 4,500 GSF of Retail/Community Space
Phase 1: Q4 2022
Dantes Partners, in partnership with Douglaston Development, L&M Development Partners, and SMJ Development, will renovate and preserve 1,922 affordable housing units across 22 residential buildings in the East New York neighborhood in Brooklyn, New York. In partnership with the New York City Housing Authority (NYCHA) under its Permanent Affordability Commitment Together (PACT) program, the units will convert to the Project-Based Section 8 housing. The anticipated project rehabilitation, worth over $534 million, will cover physical improvements that will not only enhance the quality of life for residents but also create new employment opportunities while at the same time prolong the life of the assets for years to come. Improvements include upgrades to elevators, mechanical systems, façade repairs, roof replacements, common areas, renovations to apartments including new kitchens, bathrooms, flooring, safety enhancements by upgrading entries, increased lighting, and new security systems, landscape improvements, and upgrades to the existing Community Center. Residents will also benefit from expanded social support services to include resident services for both seniors and young adults, and workforce development for those seeking career advancement.
Dantes Partners, Douglaston Development, L+M Development Partners, SMJ Development
Linden Houses: 1,586 units
Penn-Wortman: 336 units
Approximately 2,086,525 GSF
$534M Total Development Cost