Alex Bensahel, Jessie Kaye, and Jason Stern are collaborating on a redevelopment project in Washington D.C. According to the Washington Business Journal, their firms – Bensahel Capital and Kaye Stern Properties – will be leading this endeavor.
The project involves revitalizing the Martin’s View apartment complex located on Martin Luther King Jr. Avenue SW near Fort Greble Park and I-295. The proposal includes replacing the current two- and three-story buildings with five- and six-story mid-rises as well as an underground parking garage. This redevelopment aims to bring 665 new units to the area, including over 100 affordable housing units for families earning at or below 50% or 60% of median income.
This multi-phased project is expected to span several years with completion estimated by end of decade; construction on first building slated for delivery in approximately three years’ time. The development team comprises Eric Colbert & Associates, LandDesign, Gorove Slade Associates Inc., Vika , Brick & Story ,and Goulston & Storrs PC.
A recent report from Washington Business Journal has revealed plans for a major redevelopment effort led by Alex Bensahel of Bensahel Capital along with Jessie Kaye from Kaye Stern Properties and Jason Stern himself.The focus is set upon transforming DC’s Martin’s View apartment complex into a modernized community that spans across five acres adjacent Fort Greble Park off I-295.Within this plan lies intentions towards constructing larger structures ranging between five-to-six stories tall while also adding an underground garage space.This initiative hopes to introduce more than six-hundred-and-sixty-five brand-new living spaces which include one hundred-plus designated affordable homes tailored specifically towards those who earn fifty-percent-or-less (or sixty-percent) compared against average family incomes.As things stand now,the entire process should take up most if not all remaining portions within this decade alone but it’s expected that the first building will be completed within three years from now. The team responsible for this project includes Eric Colbert & Associates, LandDesign, Gorove Slade Associates Inc., Vika , Brick & Story and Goulston & Storrs PC.
