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2017 Real Estate QLICI of the Year Award Recipient

Beacon Center

CDE: The Community Builders CDE LLC
Location: Washington, D.C.

2017 Real Estate QLICI Winner Beacon CenterWith the Beacon Center–a 175,000-square-foot, mixed-use facility that will include affordable housing, commercial development and community space–The Community Builders, along with Emory Beacon of Light and its partner the Emory United Methodist Church, took a big step to create a holistic approach to affordable housing. Their plan includes affordable housing and programming that is integrated into the daily life of residents, but also the larger community and most importantly expand the use of the church building into a more extensive community facility. 

The property features the renovation and expansion of the existing church sanctuary, construction of 99 affordable housing units, a two-level parking structure, 30,800 square feet of multipurpose and office space, and 9,500 square feet of recreation and community space. It serves as an effective anchor to the emerging neighborhood and is split into two condos. The commercial, community, recreation and office space will be financed with NMTCs allocated by The Community Builders CDE LLC, while the residential space, residential parking, and related facilities will use a combination of public and private financing, including low-income housing tax credits (LIHTCs).

“This provides a great impact to jobs and local community,” said Rob Wasserman, a Community Development QLICI of the Year Awards judge. “It’s a real spark.”

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