Davey Street Partners
Investment & Development
THE ASCENT -- CAPITOL HEIGHTS METRO 450,000 sf
On behalf of its partners, Davey Street is acting as developer in the planning, entitlement, financing and execution of a 450,000 sf mixed-use, transit-oriented development on 5 acres of vacant land adjacent to the Capitol Heights Metro Station in Prince George's County Maryland. The project is situated across the street from the 60-acre, mixed-use Capitol Gateway project which will include 180,000 square feet of retail anchored by a 126,000 square foot Walmart.
The concept currently contemplates approximately 360 multifamily units and 14,500 sf of retail when completed.
FRANKLIN SCHOOL 51,000 sf
On behalf of the Institute for Contemporary Expression -- DC and EastBanc, Davey Street Partners successfully led the development team to victory winning a competitive solicitation process which the District used to dispose of the historic Franklin School. Davey Street's role continues as development advisor negotiating the public-private transaction document with the District.
The Franklin School was built in 1869 as the flagship school in a group of seven modern urban buildings constructed as the first to house a comprehensive system of free universal public education in the District. The building was the site of Alexander Graham Bell’s photo-phone experiments in 1876, housed the City’s first high school in 1880, and became the administrative headquarters of the District school system from 1928 until 1968. From 1969 until 1990, the building served as an Adult Education Center.
The historic Franklin School will be completely restored to its original structure and will be occupied by The Institute for Contemporary Expression -- Washington, DC. ICE - DC brings to the nation’s capital a world-class showcase for contemporary art, music, performance, and new media in a spectacular community center. Programs will include art education, internships, artist interactions, seminars and community special events, poetry readings, performances and new media.
GATEWAY MARKET CENTER AND RESIDENCES 189,000 sf
Gateway Market Center and Residences is a 180,000 square foot mixed-use, mixed-income, public/private development project located at 350 Florida Avenue, NE.
Davey Street Partners currently provides transaction consulting services, ownership representation services and policy advice to the property owner -- Sang Oh & Company. Sang Oh and EDENS are developing the project in joint venture.
Previously, Davey Street advised the property owner with respect to identifying the best-suited joint venture partner, structuring the joint venture transaction and negotiating partnership-related agreements.
METROPOLITAN WASHINGTON COUNCIL OF GOVERNMENTS (MWCOG) & DISTRICT OF COLUMBIA OFFICE OF PLANNING
On behalf of MWCOG and the District of Columbia Office of Planning, Davey Street Partners, in partnership with Nelson/Nygaard, Urban Institute and Eureka Facts, completed a study to determine how access to transit effects the success of affordable housing properties and, more importantly, the professional success of the residents.
DC PACE LOAN PROGRAM
Enabled through the Energy Efficiency Financing Act of 2010, the District PACE (Property Assessed Clean Energy) program is a municipal financing structure that allows commercial property owners to create a voluntary, single-property special assessment district to fund energy efficiency retrofits in their building(s).
The projects are underwritten and the loan is originated by the privately-operated PACE Administrator (Urban Energy Advisors). The loan repayment is made by the property owner as a special property tax assessment payment paid semi-annually and attached to the property. The loans are funded by PACE program capital providers and loaned to the property owners through and by the PACE Administrator.
In partnership with the administrator, Davey Street Partners provides financing expertise by leading and supporting the effort to source capital providers, and underwrite, negotiate, structure and originate PACE loans.