Affordable Luxury for a Lucky Few

Construction is beginning to wrap up at Camden South Capitol, the first new apartment community to be built in Southwest in decades. The 276-unit high-rise is located at the corner of South Capitol and O streets SW, across the street from Nationals Park. Some of the units will have views of the stadium, Anacostia River, and the Capitol building. Twelve of the units will be set aside as affordable dwelling units (ADUs) for households earning up to 80% of Area Median Income (AMI). Below are the 80% AMI limits in the District of Columbia for Fiscal Year 2013 as determined by the U.S. Department of Housing and Urban Development (HUD):

Below is the unit mix for ADUs at Camden South Capitol and household size requirements for each:

 

Rents for market-rate units will range from $1,300 for studios up to $4,000 for 2BR units per month. The leasing team at Camden South Capitol is finalizing what the actual rents will be for the ADUs, but that information will soon be posted on their website at www.camdenliving.com. Applications for both market-rate and ADUs will be accepted online starting two weeks prior to their grand opening on April 11.

All apartments will have the same features, including oversized energy efficient double-paned windows with solar shades, wood-style plank flooring in kitchen and living areas, Blanco Norte Silestone countertops with ceramic tile backsplash, stainless steel appliances, double sink vanities, Moen extra-wide kitchen sinks with spray faucet extensions, ARIA built-in surround sound speakers with docking station, USB-enabled wall outlets and full-size washer & dryers. Project amenities include 24-hour concierge service, underground parking, Verizon FiOS (cable and Internet), rooftop pool deck with barbecue grills & fire pit, cyber café, fitness center with cardio & free weights, pet grooming room, online rent payment & service request and a smoke-free environment.

A community benefit negotiated by the ANC during the Planned Unit Development (PUD) process includes a 50% reduction in the cost of parking in the building over a 20-year period for residents who live in the townhomes adjacent to the apartment building on the Unit block of O Street SW. Currently, the market-rate parking fee for the building will be somewhere between $150 and $250 per month. In addition, once the building has reached stabilization (defined as 94% occupied), the remaining parking spaces will be available for lease by the rest of the community at market rate. Residents of ANC 6D are also supposed to be given preference when tenant applications are being reviewed.

Camden South Capitol is the first of three apartment buildings that will deliver in Southwest in 2013. Sky House at Waterfront Station will have a total of 106 ADUs in the two-building complex, or 20% of all units. In addition, 1212 4^th St. SE under construction in Near Southeast will have approximately 36 ADUs included when it delivers next year. The inclusion of affordable dwelling units in these new developments will help to maintain socioeconomic diversity as our community continues to grow.

By William Rich, a member of the Near SE/SW Community Benefits Coordinating Council Board of Directors