Deanwood Development With Grocery Gets Green Bank’s First Predevelopment Loan

By Nena Perry-Brown, Urban Turf

While this mixed-use Deanwood development didn’t meet its crowdfunding minimum, it just won additional funding from an unlikely source.

The DC Green Bank announced a $250,000 pre-development loan this morning for developer Medici Road to realize its by-right project at 4276 Sheriff Road NE (map). The development will include 13 condos for households earning up to 80% of area median income; co-working space; a headquarters for Medici Road; and 6,800 square feet of retail, including a 2,500 square-foot grocer.

As designed by architect Michael Weincek, the 17,000 square-foot building would include a rooftop solar array and a means to recycle stormwater. It is projected that the solar power would save each resident $2,400 on electricity over 10 years, and the stormwater system would have a 9,000 gallon capacity for each weather event and would reduce soil erosion and pollution by 2-5%.

Medici Road has also received funding from Capital Impact Partners’s loan fund; the developer expects to acquire building permits early next year.

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