IDS DC Inc.
Capitol View was a 92 unit cooperative conversion. Public Housing units were rehabilitated to create a new community, complete with new site infrastructure and all new interiors. Financing was thru a HUD grant of $3.5 million and a private loan from the National Cooperative Bank for $800,000.
This project was undertaken as a joint venture with the Resident Council and WISH, a local nonprofit group and resulted in 50% of existing residents qualifying to purchase in the renovated redevelopment. Renovations were completed without relocating residents off site.