Gilbane Development recently celebrated the ribbon-cutting of The Upland, phase one of three in the larger Barnaby & 7th affordable housing redevelopment project. The team simultaneously broke ground on Phase 2, which consists of 229 units across four buildings.
“Addressing the affordable housing crisis requires strong partnerships, and Barnaby & 7th exemplifies what can be achieved through collaboration, said Yarojin Robinson, Senior Vice President, Gilbane Development. “Gilbane Development is proud to be a part of this joint effort to create high-quality, affordable housing solutions in Washington, D.C.”
The Upland brings 169 units with a mix of one- to four-bedroom apartments for households earning 30 percent and 50 percent of the Area Median Income (AMI). Barnaby & 7th, which is well-served by metro bus lines and major highways, features a new public road to further support residents and Washington, DC’s transit-oriented development policy. The Upland also offers a below-grade garage with 58 parking spaces.
Multifamily owners with loans coming due are faced with higher refinancing costs. While this isn’t news, Newmark put numbers to the issue, indicating that loans maturing in Q3 2026 carried an average interest rate of 4.04%, compared to 5.69% on new loans at an average cap rate of 5.5%, resulting in negative leverage. At the...
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An increase in mortgage rates is cooling home sales, with multifamily the biggest beneficiary, according to John Chang, senior vice president at Marcus & Millichap. In a recent video, Chang said that the 10-year Treasury has risen by more than 100 basis points, and the 30-year mortgage rate is up about 130 bps to the...
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The city of Revere is eying a large redevelopment plan that would create 1,700 new affordable and market-rate homes about five miles northeast of downtown Boston. The Revere Housing Authority presented a proposal to the Revere City Council last week requesting a zoning change that would allow for development on a 40-acre site at Cooledge...
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