D.C. area property selects residents via lottery

Development focuses on active, independent seniors
  • Development features primarily cost-controlled, one-bedroom units.
  • The cost to build this property was roughly $295K/unit.
  • There is an apparent demand from senior for downtown units in and around D.C.

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It’s been estimated that nearly 50 percent of D.C. renters are cost burdened – they spend more than 30 percent of their income on rent. A public-private partnership looks to bring relief to some of these renters, specifically seniors in and around the submarket of Silver Springs, Md.