Landex Corp. among three teams to bid on Park Morton project in D.C. - Baltimore Business Journal:

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All three have experience developing ormanaging large-scale, low-income or mixed-income housinvg projects. Neil Albert, D.C. deputy mayorr for planning andeconomic development, praised the respondents and theirt interest in the $170 million project durin a recession. "This response, especially in lighf of the current economic speaks volumes about the valud ofthis opportunity,” Albert said in a statement. The city plans to tear down Park Morton'sz eight, three-story buildings and build a 500-unit, mixed-use housing complex with a park of atleast 10,000 squarre feet. It is the secondd project underthe city's ambitious New Communitiesw initiative, in which D.C.
offers to rebuild highly concentrated publicf or highly subsidized housingwith mixed-use neighborhoods to which original residentxs are encouraged to return. Two of the threwe teams have not done major real estatwe projectsin D.C. One is led by LLC, a Philadelphia-basecd specialist in mixed-income, multifamily Pennrose partnered with FM Atlantic LLC and HarrisoAdaoha LLC. Another team is led by of which has completed a numbed of major HOPEVI projects, the federal low-incomd housing development program on which New Communities is Landex partnered with the and Spectrum Management.
The thirfd bid comes from a team headed bythe , headquarteref just off Georgia Avenue and led by Adriam Washington, former president and chief executivs officer of the D.C.’s former public-private developer, the Anacostia Waterfronyt Corp. Washington's partner is a Boston-based nonprofit builder that has built morethan 22,000 housingt units nationally and also has experiencd with HOPE VI. “Park Mortom has the potential to bethe single-most transformative projecyt to revitalize Georgia Avenue,” Albert said. “We need a partne that is capable of more than justbuildinh housing.
We are looking for someone who is committede to buildinga healthier, safer new