An affordable, green apartment community in Takoma Park, Washington, DC leases up in record time.
Metro Village Apartments, located in Takoma, DC has completed a successful lease up. The five-story, mixed-income rental community is located adjacent to the Takoma Metro and in the midst of a vibrant DC neighborhood.
The property consists of studios, one and two bedroom apartment homes and participates in the Low Income Housing Tax Credit Program (LIHTC) to offer affordable housing to individuals making 60% or less of the Area Median Income. In addition to the affordable component, 20% of the property was rented at market rate rents.
The community was also designed to meet the needs of a transit-focused renter and offers memberships in bike share or car share programs as well as access to Metro and the Northwest Hike/Bike Trail. A promotion and advertising program which relied heavily on social media and digital marketing helped generate interest and traffic to the property.
“We are proud of the accomplishments of our on-site team. Leasing apartments while under construction is always a challenge and their hard work culminated in a quick and successful lease-up.”, said Tony Ross, President Residential One.
The property was developed by Takoma Spring Place LP with participation from AHD and Bruce Levin. Residential One/AHD Management, LLC manage the property.
Residential ONE is a leading property management firm, specializing in affordable housing in the mid-Atlantic area with over 7000 units under management. Residential ONE has experienced rapid growth and has a wide range of management services to help investors meet their needs. For more information please visit our website!