UNCF Headquarters project brings UNCF, whose core mission is to enhance the quality of education by providing financial assistance to deserving students nationwide, to District. Located in the District's Shaw neighborhood at 7th and S Streets, NW. UNCF Headquarters project will be a catalytic force in bringing new investment to Shaw, including the creation of an office building that will help support new commercial activity in the neighborhood. The project will bring hundreds of new jobs and replace blighted street corners and empty lots with new street-level retail designed to activate the 7^th Street Corridor both day and night. The project will also help accelerate the restoration of the nearby historic Howard Theatre, which is scheduled to undergo a $28 million renovation. UNCF Headquarters project will also provide much-needed affordable housing as a part of the overall housing program and the project is expected to generate $2.4 million in annual new spending/ new retail demand.

Development Partners

Broadcast Center One Partners (comprised of Four Points, LLC and Ellis Development Group)

Location

Northeast intersection of 7th and S Streets, NW

Next Steps 

• Garage and Office Construction to begin in Winter of 2010
• Expected to be complete by Winter, 2013

Development Program 

• Market Rate Residential Units: 205
• Affordable Residential Units: 51 (includes affordable and workforce housing units)
• Office (GSF): 93,000
• Retail (GSF): 22,000
• Parking: 185
• Development Cost: $154 million

Community Benefits

• 25 percent of the units will be affordable for workforce housing

-          10% (20 units) affordable for families making between 31%-50% AMI

-          5% (11 units) affordable for families making between 51%-80% AMI

-          10% (20 units) work force housing for families making between 81%-120% AMI

• 10 percent of retail space will be made available for neighborhood retail at reduced rents.
• 100 spaces to serve the Howard Theater and the Shaw community.
• Living wage jobs for Shaw residents.
• 500 construction job opportunities.
• 65 new office/retail job opportunities.
• 5,000 SF of ground level College Knowledge Center.
• Scholarship opportunities by UNCF.
• Internship opportunities for college students with UNCF.
• Community Development Initiative Fund contribution of $350,000.
• First Source agreement executed
• CBE agreement executed

Economic Opportunities

• The project is expected to generate $19 million in new tax revenue during the next 20 years.
• It will deliver nearly 680 new jobs (construction, office and retail jobs) and $22 million in new spending within the District.

Environmental Sustainability

• Transit-Oriented Development project atop the Shaw-Howard Metrorail Station.
• Comply with Green Building law.