Friday, May 02, 2014

HOUSING COMPLEX | Shedding Light on Congress Heights’ Mysterious Development Project

Yeah! Nice to finally have some movement on this project! Any opportunity to bring more homeowners to Ward 8 and encourage more homeownership in Ward 8 in a very good thing!  Thanks to Aaron for following up on my earlier post about the $5 million loan. 

Go HERE to read the full article. 

Excerpt:
The Congress Heights on the Rise blog spotted a press release announcing a $5 million loan for a Congress Heights project that sounded a lot like this one, which is called Congress Heights Vistas. The loan, the release stated, came from LYNK Capital, and was being issued to "Woodcrest Holdings, LLC which is a subsidiary of Capitol Real Estate Development, LLC." 
t presence, and no LLC by that name is registered in the District. But Ben Lyons of LYNK confirmed that the project in question was indeed the Congress Heights Vistas site. LYNK, says Lyons, sees economic opportunity in the long-neglected neighborhood, especially now that the nearby St. Elizabeths redevelopment process is underway and Ballou High School across the street is being rebuilt.

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