1900 Half St., SWWASHINGTON, DC—Douglas Development and its partner in a new project on 1900 Half St., SW, have secured EB-5 capital to partially finance the office-to-multifamily housing conversion.
EB5 Capital is contributing a $44.5 million preferred equity investment to the $190 million project that is currently under construction. The building, which will have 453 units and over 15,000 square feet of ground-floor retail, is on track to create more than 1,300 EB-jobs, according to EB5 Capital. The 89 foreign investors in the EB-5 partnership are from various countries, including Canada, China, Eritrea, Hong Kong, India, Iran, Israel, Korea, Pakistan, Russia, Taiwan, Ukraine, the United Kingdom, Venezuela, and Vietnam.
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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.
