Capital Secured for Capitol Lofts

CADA has announced that the Capitol Lofts project (CADA Warehouse), located at 11^th and R Streets, was award $18 Million in low-income housing tax credits. The federal tax credits will allow the Capitol Lofts to move forward and start construction within the next seven months.

Next spring, CADA’s development partners, CFY Development and Holliday Development, will be begin constructing 116 mixed-income housing units and 23,000 square feet of commercial retail space. The construction will be completed in the spring of 2015. When finished, you will see a mixed-use, transited-oriented, brownfield, historic adaptive rehab, and infill development project that will continue the transformation of R Street’s Historic District that began with the streetscape project completed earlier this year. The $41 million complex will have underground parking and a courtyard between the warehouse and new construction.

The historic six story warehouse (built in 1895) will be brought back to life; supplemented with new construction on the adjacent ‘pit’ that combines two levels of parking with a multi story 60 ft high new building wrapped in brick. Dwelling Units per Acre: 131.5. Learn more and stay updated by going here, here, and here.