Washington, DC – (RealEstateRama) – Mayor Muriel Bowser, Ward 5 Councilmember Kenyan McDuffie, and Interim Deputy Mayor for Planning and Economic Development John J. Falcicchio broke ground on Phase I of Bryant Street, a 13-acre mixed-use development that will deliver 487 apartment units, a nine-screen cinema, and 35,000 square feet of retail to Ward 5. The District provided a Tax-Increment Financing (TIF) agreement for the first phase of the development, which is expected to generate about $4 million in annual tax revenue.
“Today’s groundbreaking demonstrates the housing and economic opportunities we can create across all eight wards through innovative investments,” said Mayor Bowser. “We can and we must continue to build new housing if we are going to meet our goal of creating 36,000 new homes by 2025, and this bold, ambitious development is going to help us get there. I am excited to see Bryant Street move forward and contribute to this vibrant, growing Ward 5 community.”
Phase I is a joint venture by MRP Realty and FRP Development Corp. The project at full completion will include 1,500 apartment units and 250,000 square feet of retail and significant public realm improvements, including a plaza, new urban grid, dog park, and ample outdoor seating.
“In the District of Columbia, the demand for housing continues to exceed the supply, that is why we must continue to support and encourage community driven economic development,” said Councilmember McDuffie. “The Bryant Street development will bring additional jobs, retail, and affordable units to the neighborhood and 1,500 new residential units to the District, helping to increase capacity and alleviate some of the pressure on our housing market.”
The community will be located at the nexus of the Edgewood, Eckington, Brookland, and Brentwood neighborhoods with direct access to the Rhode Island Ave Metrorail bridge. Additionally, Bryant Street will be LEED certified and will boast an above average Green Area Ratio, green roofs on all buildings and considerable improvement to stormwater management over the current shopping center.
“Projects of this scale do not happen overnight,” said Interim Deputy Mayor John J. Falchiccio. “Bryant Street is a combined effort of public and private resources to ensure that we are delivering amenity-rich developments in parts of the city that have been heavily utilized over the years.”