Hanover Closes Land Buy, Construction Loan For 377-Unit Brookland Project
A development that would add nearly 400 units to Northeast D.C.'s Brookland neighborhood appears to be moving forward.
Hanover Co. last week closed on the acquisition of two adjacent properties at 3135 and 3201 Eighth St. NE, and it received a construction loan for its two-building apartment project.
The Houston-based developer acquired the properties from Abdo Development and Jedi Capital II LLC for a combined $31.6M, according to documents posted Feb. 12 to the. D.C. Recorder of Deeds. The same day, documents were posted showing Hanover received an $82M loan from JPMorgan Chase.
The developer has applied for building permits to move forward with the project, but the Department of Consumer and Regulatory Affairs has yet to issue the permits. Hanover and JPMorgan Chase declined to comment on the project.
The acquisition and loan closings come after the Zoning Commission in November issued its approval order for Hanover's planned-unit development application. The approved application calls for two six-story buildings with penthouses totaling 377 apartments.
KTGY Architecture + Planning designed the project. The buildings will each have their own residential lobbies and will be connected by a landscaped plaza. The development will have a below-grade parking garage with 186 vehicular parking spaces and a bike storage area with 125 spaces.
The development is not planned to include retail. The building's first floor will include "townhouse-style" units with individual entrances along Eighth Street.
The project's community benefits will include streetscape improvements along Eighth Street NE, public seating and a water fountain in the outdoor plaza. It will also set aside 12% of the residential space as affordable.
The property sits two blocks south of the under-construction final phase of the Monroe Street Market development. It is less than a half-mile from the Brookland Metro station. The development also sits along an unmarked portion of the Metropolitan Branch Trail, which becomes a dedicated cycling and pedestrian path four blocks to the south.
