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The Neighborhood Development Company has completed construction on Park27, an affordable residential ownership community in Hillcrest.

NDC Completes Affordable Homeownership Community in DC’s Hillcrest

The Neighborhood Development Company has completed construction on Park27, a residential ownership community in the Washington, DC neighborhood of Hillcrest. Sales will be handled by MG Residential, an arm of The Menkiti Group.

Park27 offers for purchase 26 new, 100% affordable duplex condos and studios from 500 to 1,250 square feet. The project will be an Enterprise Green Community / Energy Star Certified building.

“As a native Washingtonian, I’ve seen firsthand the dramatic changes in our city that have made it harder and harder for longtime residents to own their own homes,” said Adrian G. Washington, CEO and founder of NDC. “We wanted both to increase affordable housing opportunities within the Hillcrest community, and to create an opportunity for families to build intergenerational wealth and security.”

The community was financed by a combination of a senior loan provided by LISC, funds from DHCD through the Housing Production Trust Fund and private equity.

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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