3Tree Flats is a 130 unit highrise which was constructed in the Petworth neighborhood of Northwest, Washington, DC. The building dynamics were particularly interesting due to the multi-layered restrictions associated with the Low Income Housing Tax Credit (LIHTC) program and other funding programs. Additionally, the building had a market rate component with a rent structure more than double that of the income restricted portion. The building was constructed as a condominium with St. Mary’s Center, a high-profile health services clinic which mandated a shared facilities component with the building. 3Tree Flats was leased up in a record 3 months and has maintained higher than 97% occupancy since then.
- Achieved lease up and 100% occupancy within three months
- Winner of the Washington Business Journal’s Community Impact Award, 2012
- Winner of the Property Management Association PACE Award for in 2012 and 2013