WASHINGTON, DC–Capital One Bank and Community Preservation and Development Corp. are unveiling a new amenity at the 316-unit Overlook at Oxon Run this morning that Capital One hopes to see replicated in other affordable housing projects.
It is a makerspace — a center for creativity and innovation for both children and adults.
“The makerspace provides a way for generations to connect over a project,” Laura Bailey, Senior Vice President and Head of Community Finance at Capital One, tells GlobeSt.com. “I could see a senior teaching a young person how to knit in those rooms, or a young person figuring out how to use the 3D printing machine and becoming the building's guru for that particular technology.”
Yes, the makerspace includes 3D printing machines.
Three Rooms Of Creativity
Makerspace is, in fact, three rooms, each focusing on a particular area. There is the Fabric Arts Room, which has its specialized machinery for making art, clothing, costumes and masks. There is also the Digital Lab, also known as the Oxon Run Funk Lab, which has Windows Studio Pro desktops and laptops, a Smart Board and 3D printers. The heart of the makerspace is a room called the Nonstop Maker Spot. It is a woodshop that contains tools, laser engravers, 3D carvers, a vinyl cutter and press.
Capital One, which was an original investor in Overlook at Oxon Run, provided a grant for CPDC to develop the makerspace.
Located at 3700 9th St., SE, the Overlook at Oxon Run underwent a complete renovation by CPDC in 2010. It has one- and two-bedroom residences, with 181 units allocated to low-income seniors and 135 units for small families.
A Model for Other Affordable Housing Complexes
CPDC and Capital One collaborated on and developed the concept, Bailey says. “We spent a lot of time thinking about what creates a great community.”
Capital One invests in affordable housing throughout the US, primarily through the Low-Income Housing Tax Credit program, and it hopes to replicate this “souped-up super amenity,” as Bailey describes makerspace, in other projects in which it invests.
“It clearly offers value to the residents and value to the non-profit developer,” she says.
WASHINGTON, DC–Capital One Bank and Community Preservation and Development Corp. are unveiling a new amenity at the 316-unit Overlook at Oxon Run this morning that
It is a makerspace — a center for creativity and innovation for both children and adults.
“The makerspace provides a way for generations to connect over a project,” Laura Bailey, Senior Vice President and Head of Community Finance at
Yes, the makerspace includes 3D printing machines.
Three Rooms Of Creativity
Makerspace is, in fact, three rooms, each focusing on a particular area. There is the Fabric Arts Room, which has its specialized machinery for making art, clothing, costumes and masks. There is also the Digital Lab, also known as the Oxon Run Funk Lab, which has Windows Studio Pro desktops and laptops, a Smart Board and 3D printers. The heart of the makerspace is a room called the Nonstop Maker Spot. It is a woodshop that contains tools, laser engravers, 3D carvers, a vinyl cutter and press.
Located at 3700 9th St., SE, the Overlook at Oxon Run underwent a complete renovation by CPDC in 2010. It has one- and two-bedroom residences, with 181 units allocated to low-income seniors and 135 units for small families.
A Model for Other Affordable Housing Complexes
CPDC and
“It clearly offers value to the residents and value to the non-profit developer,” she says.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
