Washington DC CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Menkiti Group Breaks Ground on Anacostia MXU Project
The Menkiti Group has broken ground on the first phase of the MLK Gateway, a mixed-use development in Washington D.C.’s historic Anacostia neighborhood.
The project’s first phase will include the restoration of 14,000 square feet of ground floor retail, as well as 20,000 square feet of newly-built office space. The project will be anchored by Enlightened Inc., an information technology and cybersecurity firm that will relocate its nearly 150 district-based employees to a new headquarters at MLK Gateway. Phase Two of the project will include construction of a new building at 1909-1913 Martin Luther King Jr. Ave. SE, with street-level retail and multistory office space above.
The project was financed using a combination of $4.25 million in New Market Tax Credits and $3.3 million in Opportunity Zone funding, grant funding and senior debt. The Project is the first in the country to deploy a combination of both Opportunity Zone funding and New Market Tax Credit.
For comments, questions or concerns, please contact David Cohen
- ◦Development
