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Jair Lynch to Develop Apartment On Meridian Hill Park

WASHINGTON, DC—The local developer is teaming up with MacFarlane Partners for this project.

By Erika Morphy | erikamorphy | | Updated on February 03, 2016
One of the more notable projects the two companies partnered on was the $34 million acquisition of the undeveloped portion of the east side of Half Street in 2014. One of the more notable projects the two companies partnered on was the $34 million acquisition of the undeveloped portion of the east side of Half Street in 2014.
WASHINGTON, DC—Local developer Jair Lynch Real Estate Partners announced plans to redevelop a now-vacant dormitory near Howard University into a boutique multifamily building. Jair Lynch acquired the rights in September 2015 from Howard University and closed the transaction on December 17, 2015. At the start of February it entered into a 99-year ground lease with Howard University for the property, which is located at 2601 16th Street, NW, next to Meridian Hill Park. The eight-story building will be renovated into a 200 plus-unit apartment building. The building was constructed in 1942. It was the site of the first government-owned and-operated hotel to house young women who moved to the District during World War II to fill government jobs. More recently, Howard University operated it until 2013 as an off-campus dorm known Meridian Hill Hall. Its ties to Howard are important to Lynch, who noted that he is the son of a Howard graduate. “I take great pride in redeveloping this great asset and reimagining it for the future,” he said in a prepared statement.

A JV With MacFarlane Partners

Jair Lynch acquired the property and the ground rights via a programmatic joint venture it has with MacFarlane Partners, which is also a partial owner of the company. The JV has a development portfolio of 16 projects in the DC metro area for a total of $700 million. One of the more notable projects that fall into this JV is the Half Street project across N Street Southeast from Nationals Park. Jair Lynch and MacFarlane acquired the undeveloped portion of the east side of Half Street in 2014 for $34 million. A $150 million, 460,000-square foot mixed-use project is being developed on the site in two phases. The first phase, which is expected to deliver in 2018, includes 350 apartments, with approximately 36,000-square feet of retail on Half Street. Phase two will have a boutique residential building and additional retail along N Street.

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