The Residences at Georgia Avenue

JC Layne on Georgia

CLIENT FLC 6805 LLC	COST/BUDGET $4.8MM	LOCATION 6805 Georgia Avenue NW, Washington, DC
SIZE 18 Units	STORIES 3	SECTOR Multifamily/Mixed-Use

"From the start, our vision for The JC Layne was rooted in serving the community. By delivering a mix of market-rate and affordable homes we’re ensuring that Georgia Avenue continues to be a vibrant, inclusive neighborhood. We believe projects like this demonstrate that growth and equity can—and must—go hand in hand." — Omar A. Karim, CEO, Banneker Ventures

Project Overview

Banneker served as the sponsor, developer, and general contractor of this three-story, $4.8 million, 18-unit apartment development. Banneker renovated all units, common spaces, and the building’s exterior. This project is directly across the street from the $1 billion redevelopment of the former Walter Reed campus, which includes a Whole Foods.

• Banneker got involved in this project after the long-time owner was experiencing operational and financing issues with the building.

• Banneker led the Tenant Opportunity to Purchase Act process and preserved all the units as affordable while expanding the number of family-sized units.

• This project was financed by sponsor equity and a renovation and permanent loan from City First Bank of Washington.

Interior Photos

Amenities

• Washers and dryers in the building

• Walking distance to Whole Foods

• Energy-efficient dishwashers

• Stainless Steel Refrigerators