Ninety-nine new environmentally-friendly family and senior rental homes with parking and community space.
Matthews Memorial Terrace is a new TCB community currently under construction in the Barry Farms neighborhood in the Anacostia region of southeast Washington, DC. It is comprised of a 99-unit five-level, elevator-serviced building that will include a 52-space underground parking structure. The residential building will house three different populations: seniors ages 62 and above, residents qualifying for public housing and those with incomes up to 60% of the area median income.
Approximately one-third of the residential units are designated for each population. To maximize the mobility of senior residents, their housing will occupy the entire terrace level of the building and approximately half of the ground floor level. Building amenities will include a community room, a meeting room with kitchen facilities and a terrace-level courtyard that will function as a green roof over the parking structure, Energy Star-rated kitchen appliances and HVAC for heating and cooling. The 2.2 acre site is located on major transit routes with bus stops at the site and it is within walking distance of the Anacostia Metro station, which meets the Smart Growth aspects of green development. The building will also meet the requirements for a U.S. Green Building Council LEED Silver Certification.
As part of the neighborhood's Barry Farm/Park Chester/Wade Road redevelopment plan, Matthews Memorial Terrace helps to meet the goals of the District's New Communities initiative, implemented by the Office of the Deputy Mayor for Planning and Economic Development. The new development also supports the City's Green Communities and Great Streets initiatives. A joint venture of TCB and Creative Opportunities Ventures, Inc. (COVI) – the development arm of Matthews Memorial Baptist Church – Matthews Memorial Terrace is situated on property owned by and adjacent to Matthews Memorial Baptist Church. Matthews Memorial Terrace responds to community needs by making use of underutilized land to provide safe, affordable housing, while helping to revitalize the local neighborhood.
The $22.5 million new construction development was financed in part by debt and equity investments purchased by Capital One Bank through tax-exempt bonds and 4% Low Income Housing Tax Credits issued by the DC Housing Finance Agency. The remainder of the financing was provided by loans from the Office of the Deputy Mayor for Planning and Economic Development and the District of Columbia Housing Authority, and a grant from the Office of the Deputy Mayor for Planning and Economic Development as part of their New Communities Initiative. TCB's Washington, DC office is excited to bring this new, innovative community to our nation's capital and we look forward to working with the District on many more new construction and preservation developments.
“This project will provide additional replacement public housing to move us closer to revitalizing Barry Farm as part of the District's New Communities Initiative.”
—Adrian Fenty, Former Washington, DC Mayor