FDG Moving Forward with 900-Unit MXU Project on Capital Riverfront

Felice Development Group (FDG) has partnered with Fields-Grade Development to acquire nearly three acres of land on the Anacostia Riverfront. FDG plans to develop a large-scale, mixed-use project with 900 multifamily units, outdoor/rooftop amenities, 45,000 square feet of retail and green space.

The project is located along the Anacostia riverfront with panoramic water and city views from all floors and access to the bike paths and the Riverwalk. GTM Architects designed the project to include three towers over a shared below-grade garage. The “East Tower” will contain 496 units, “West Tower” another 307 units, and the third tower 97 units. Construction is slated to begin Q4 2022.

EagleBank provided acquisition financing to fund a portion of the project’s purchase price. The transaction was facilitated by Tim Annett who works as part of EagleBank’s commercial real estate team.

“We’re excited to work with EagleBank to develop one of few remaining riverfront parcels in DC and bring this undeveloped riverfront area into the fabric of DC’s diverse and vibrant neighborhoods,” said Rick Felice, president at FDG. “Once completed, this will bring a riverfront experience to the Capitol Hill neighborhood to the north, Anacostia neighborhood to the south and further expand the Navy Yard neighborhood.”