A successful negotiation with Montgomery County led to a mutually beneficial outcome that protects profitability at our rental community, The Magnolia, and designates 35 affordable homes for the Bethesda region; 28 of the homes at the property are now allocated to individuals earning 60% of the area’s median income (AMI), and a further seven homes are offered to those earning 50% of the AMI. 

At 2001 Wisconsin Avenue, which is adjacent to 3300 Whitehaven – our redevelopment project in Georgetown, D.C. – we built a new athletic facility for our tenant, the British International School of Washington, which has extended its lease term by approximately six years. Designed to support student needs and the school’s long-term requirements, the facility functions as both a gymnasium and auditorium with seating for 198 spectators, meaning functions that previously occurred elsewhere can now happen on site, benefiting the students, the school and the community.