Gilbane, Dantes Plan 152-Unit Senior Housing Project In Southeast D.C.
The site of a shuttered Chinese carry-out spot on the D.C.-Maryland border could soon welcome a host of new senior residents.
Gilbane Development and Dantes Partners plan to build 152 units of affordable senior housing on two adjacent lots the partnership acquired for $5.15M, the Washington Business Journal reports.
Marcus & Millichap's The Feldman Group brokered the sale. The buyers acquired the properties from YLC Inc., an entity owned by Mike Cheug, who bought them for a fraction of that price in 2001. Cheung plans to use the proceeds to make a new acquisition using a 1031 exchange.
The lots at 306 Southern Ave. SE and 4656 Livingston Road SE sit near the intersection of South Capitol Street and Southern Avenue, on the D.C. side of the jurisdictional border. The property, occupied by the closed China Southern Carry-Out restaurant, is within a half-mile of a Giant-anchored shopping center.
The 152-unit project is expected to deliver in early 2021. The units will be set aside for seniors making up to 60% of area median income.
The project is the second senior affordable development to be planned in D.C. in as many months. In late April, Gragg Cardona Partners and The Carding Group filed plans for a 155-unit affordable assisted living community near the Deanwood Metro station.
Developers have begun to pursue more senior housing projects in urban locations as baby boomers reach retirement age and want housing with access to transit and amenities.
