Maycroft Apartments - Affordable Housing - Columbia Heights

Developed by Maycroft, LLC including Ernest Marcus as co-managing member.

• 66 apartments total and 5,000 sq.ft. non-profit office

• Turnaround of project with chronic crime, delinquencies and vacancies

• FNMA financing

• Utilization of former storage space in basement for non-profit use which provided needed social services to the community

• Preparation of detailed Hardship Petition per D.C. rent control regulations

• Negotiations with tenant organization for preparation of a Voluntary Agreement per D.C. rent control regulations.

• Sold to non-profit housing provider who will retain as affordable project. Major donation made to purchaser to assist in financing. Michael Milliner acted as project manager for the buyer.