DEVELOPMENT

As part of a commitment to find new and innovative ways to construct and preserve more affordable housing in the District, Mayor Bowser announced the creation of a new $2 million fund to help nonprofit developers secure capital for predevelopment soft costs. Established with the city’s $1 million Housing Production Trust Fund (HPTF) and $1 million from the D.C. Housing Finance Agency’s (DCHFA) McKinney Act Fund, The Newsome Fun will provider loans up to $100,000 per project. Read more at DC Curbed.

 

REAL ESTATE

Charlotte, North Carolina-based Grubb Properties has made its first D.C. acquisition with the purchase of Argon Plaza from C-III Asset Management for $38.8 million. The 275,000-square-foot Fairfax office building is part of the Fair Lakes mixed-use community where Interstate 66 intersects Fairfax County Parkway. It’s more than half occupied The Boeing Co., which recently signed a five-year renewal. Read more at BisNow.

 

TRANSIT

The District Department of Transportation will extend the pilot program for dockless bicycles and e-scooters through the month of August. The additional time will allow them to collection additional data over the warm, summer months and to work out some kinks with the community and the vehicle providers. Read more at Technical.ly DC.