Update on Rosedale Townhomes Project

RCA got a call from the Department of Housing and Community Development (DHCD) with an update on the Rosedale Project. For those of you unfamiliar with the project, it's a development coming to the huge, empty lot on 17th Street between D and E. Last year, the DC Council approved the sale of this lot to Rosedale Development, LLC.

DHCD provided us with some additional background on the project. Rosedale Development LLC is a company co-owned by two locals: Andy Botticello and Phinis Jones. An internet search on them yielded some interesting information: a professional bio on Mr. Jones (http://www.chtcdc.com/home_files/Page388.htm) and a Post article about one of Mr. Botticello’s previous developments in Anacostia (http://www.washingtonpost.com/wp-dyn/content/article/2006/10/18/AR2006101801969.html). (Note: I believe these are the same individuals, but cannot be 100 percent sure.)

The current plan for the development is as follows:
-- 28 units total
-- 70 percent of units will be townhomes and offered at market price.
-- 30 percent will be single level flats and “affordable” (sold at 80 percent of median income of the Washington metropolitan area for appropriate household size).
That's a lot of buildings to go in that lot.

Currently, DHCD and Rosedale Development are finalizing negotiations over the sale of the land. Once the agreement is made, construction will begin almost immediately. (RD LLC would be getting the land, appraised at around $800,000, for $100,000 in exchange for agreement to begin construction immediately and include the affordable units, among other things)

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