Flaherty & Collins Properties, Mayor Bowser Mark Milestone As Construction Nears Final Completion of $107M Historic Adaptive Reuse of St. Elizabeths East

WASHINGTON, D.C. – Flaherty & Collins Properties, alongside Mayor Muriel Bowser, the Office of the Deputy Mayor for Planning and Economic Development (DMPED), and Anacostia Economic Development Corporation (AEDC) announced today that they are nearing completion of the final buildings of The Residences at St. Elizabeths East, a $107 million historic adaptive reuse development that includes 202 affordable homes and 50 market rate homes on the St. Elizabeths East Campus, providing high-quality affordable housing to the Congress Heights neighborhood in Ward 8.

“We are thrilled to approach project completion for The Residences at St. Elizabeths East,” said David Flaherty, CEO of Flaherty & Collins Properties. “We could not have done this project without Mayor Bowser’s incredible support of the project and the community and we look forward to serving residents at St. Elizabeths East for a long time and doing more high-quality developments in the neighborhood.”

Located at 1201 Oak Drive SE, adjacent to the Entertainment and Sports Arena, The Residences at St. Elizabeths East was the renovation of seven historic buildings totaling 354,000 square feet into rental units situated in an oval pattern, with one central building surrounded by the remaining six.

“The St. Elizabeths East Campus is brimming with potential for the District to be bold and innovative when it comes to building and delivering housing for families and residents across the income spectrum,” said Mayor Bowser. “With this newest project nearing completion, we remain focused on ensuring that Ward 8 residents not only are benefiting from new housing, but also the new amenities and opportunities that are coming to the site.”

“Buildings E and F are scheduled for final completion in September and October, respectively, with final close-out of the project occurring by year-end,” according to John LaPorta, Project Executive for Flaherty & Collins Construction, which served as general contractor of the project.

Despite the COVID-19 pandemic, the construction team has delivered each building as scheduled, and, with a 35% Certified Business Enterprise (CBE) requirement to use local contractors, the project has surpassed that mark and sits at 58%, with a total of $34.5 million in CBE work and $4.8 million of Wards 7 and 8 work. Forty-four Section 3 jobs were created by the project, with 267 D.C. residents working on the site, 133 of those from Wards 7 and 8.

“The interest in this project by the community from the beginning has been phenomenal,” says Tom Gay, Property Manager for Flaherty & Collins Management of The Residences. “We currently have over 6,800 on a waiting list and even more have reached out for information on both market rate and affordable housing at The Residences.”

The Residences are comprised of 252 studio, one-, two-, and three-bedroom units, including affordable units for households earning up to 50% of the median family income (MFI), which is $58,600 for a family of four. The affordable units include 19 units available up to 30% of the MFI, inclusive of 13 permanent supportive units, and 183 units available for 31-50% of the MFI; another 50 units will be available at market rate. Amenities for residents include a fitness center, clubroom, secured parking, and community areas including a playground, recreational area, and outdoor grilling area.

“The Residences of St. Elizabeth is a great place to call home,” says Khaleelah Anderson, a resident. “The entire staff always greet you with a smile and are very helpful to my needs, quickly attending to any problems that arise. The grounds and facilities are kept clean every day by friendly and courteous workers. The workout rooms are open 24/7 are rarely crowded and the entertainment areas are lovely. I love the convenience of the elevator gated private parking. I live alone here and could not feel safer anywhere else, it’s a beautiful neighborhood to raise your children.”

The development is currently 55 percent preleased, with a projection of being 75 percent leased upon project completion in early October and 100% leased by year-end.

“We moved in 64 residents in the first six weeks alone,” added Gay. “And another 50 during the pandemic, so the demand for quality housing in this area has remained incredibly high. We’re drawing residents predominately from Wards 7 and 8, but across the eastern seaboard as well, from Baltimore and Virginia to Pennsylvania and North Carolina.”

Gay noted that The Residences looks forward to opening the community’s doors to the public even more with open houses and community events, once the COVID-19 pandemic passes.

The project’s completion marks a major step in the effort to transform one of D.C.’s largest developable parcels into a transit-oriented, mixed-used project near the Congress Heights Metro station. The Residences at St. Elizbabeths East was funded through a combination of historic and low-income tax credits and was a collaboration of DC Government agencies, including DMPED, the DC Department of Housing and Community Development (DHCD), and the DC Housing Finance Agency (DCHFA), Flaherty & Collins Properties and AEDC.

“This project is another step in making a positive impact on our East of the River community,” said Stan Jackson, President and CEO of AEDC at the project’s ribbon cutting. “With all of the great projects happening here, The Residences at St. Elizabeths East connects, activates and enhances the relationship of the campus to the community, creating a shared quality of life experience for all.”

The Residences at St. Elizabeths East broke ground November 2018 and opened to first residents in November 2019. For more information, visit steapts.com.