For decades, Rhode Island Avenue NE has lagged behind other DC prime thoroughfares in its transition from its historical industrial roots to higher-amenity and higher-return mixed uses that reflect the city's evolving employment profile and collaborative growth objectives. The GMCHC portfolio, assembled over the years, had suffered from decades of deferred maintenance, sub-optimal financial returns, environmental concerns, and incongruity with the DC Comp Plan.
GMCHC challenged CIVITAS with undertaking a comprehensive portfolio review, culminating in a feasibility study for the development of its Rhode Island Avenue parcels. Ultimately, this led to a strategic ground lease benefiting GMCHC's mission of enhancing environmental responsibility by providing for the remediation of LUST (leaking underground storage tanks) contaminants and railway environmental hazards and connecting new housing to a revitalized Metropolitan Branch Trail.
The CIVITAS team worked with GMCHC to create an ESG (environmental, social, governance) strategy for Environmental Remediation, Upzoning and New Development facilitating 417,000 SF (507) units of new housing connected to an urban recreational trail, the Metropolitan Branch Trail. The area has been fully revitalized with a focus on sustainability to improve the environmental and social conditions that impact the landscapes and buildings surrounding the properties.
At CIVITAS, we believe in the transformative power of real estate to change the world by growing vibrant, sustainable enterprises and institutions, and advancing social change.
