Verna K. Supel, Former President
907 Euclid Tenants Association
“I would like to take this opportunity to formally thank you and the Neighborhood Development Corporation, LLC (NDC) Executive Team for helping members of the 907 Euclid Tenants Association’s dream come to fruition as first-time homebuyers. As you know, this project was borne out of a settlement with the previous owner who was in violation of the District of Columbia,Teiiant Opportunity to Purchase Act (TOPA), i.e., “First Right to Refusal.” We signed off on both the settlement and purchase agreements with the previous owner on July 18, 2008, giving us only a 120 day window to identify a Developer.”
“After several interviews with potential Development Companies, we were fortunate enough to meet the NDC Executive Team on September 30,2008. Our membership was so impressed with NDC7s proposal, we unanimously voted for NDC as our Developer and partner. The primary reasons for our selection were two-fold: (1) NDC’s excellent reputation and expertise, and (2) NDC’s genuine concern for the members of the 907 Euclid Tenants Association as inside buyers and protected tenants.”
“NDC took on this project at a very crucial, time sensitive period. With less than 45 days out, NDC was able to conduct the required environmental studies and provide a good faith deposit for the acquisition of the building. Shortly thereafter NDC secured the financing for acquisition and renovation of the building. The renovation phase was quite impressive and went beyond our expectations. The conversion of the property was like watching the “Extreme Makeover.” NDC formed a team that delivered an upscale, well designed condominium, with urban-style, spacious units, including new kitchens, new bathrooms, energy efficient appliances and central air and heating. In less than one year of the acquisition, the property was completed, open to the market, and 90% sold with FHA financing available. Located in the center of Columbia Heights, our property again enhances and revitalizes the neighborhood it has been a part of since the early 50′s, and we are the proud owners of our units.”
“NDC’s personal commitment to the success of this project was exemplary. Not only did NDC assist us in condominium conversioii process, but also made the homebuyer transaction effortlessly by providing a one-stop shop in regards to working with a real estate agent and settlement team for closing. On behalf of the 907 Euclid Tenants Association, we thank you again for creating a win-win project, and enabling us to become first-time homebuyers. The management team of NDC has our upmost endorsement and our deepest personal respect.”
Ayana Horne
“I purchased a one bedroom unit at The Lamont at the intersection of 11th Street and Lamont in Columbia Heights in October, 2001 for $130,000. Taking advantage of multiple first time homebuyer incentives, including a $5000 tax credit, zero recordation tax and five year tax abatement, I was able to acquire the property with no money down.”
“I met NDC’s President Adrian Washington when he was developing NDC’s first property at 3422 13th Street, NW in Columbia Heights. NDC did a great job on that project, so when I learned that NDC was the developer on The Lamont, I was anxious to see the units under development. Although I wasn’t actively seeking a condo purchase at that time, I made a purchase decision on the stop. I believe that the majority of the units sold out on that first day. I sold my condominium in 2004 for $227,000, a 25% annual appreciation on the value of my condo.”
“I would have loved to keep the unit, but needed to sell in order to afford a town home in Columbia Heights. My unit was both cozy and very attractive and had upscale finishes including hardwood floors, a fireplace, stainless steel appliance, etc. My family, friends and realtor had all advised me against purchasing a condo in the city, and particularly in Columbia Heights, but I shared Adrian’s vision for the neighborhoods and have benefited immensely from that decision. NDC was very attentive to my needs and was quick to address any issues or necessary repairs. I never had any problems that went unresolved. I also had a good experience with my neighbors and the condo association. I would definitely buy an NDC product in the future and consider myself a friend of the company.”
Ms. Carlise Kelly
“When the Neighborhood Development Company purchased our building in 2001, Mr. Washington asked if I would like to keep my apartment. I’ve been living at 1020 Fairmont for over twenty years and had no desire to relocate. NDC made a noticeable effort to keep the building clean and maintain our quality of life during the construction of the condominiums. NDC also renovated my apartment at no cost and kept our rent consistent with what we’d been paying before the building was sold. I think we were treated fairly and with respect and appreciate being able to keep my home.”
Chris LaFargue
“In November of 2001, I bought my first home. It was a one-bedroom condo with a small den in Columbia Heights DC and was one of six units for sale in a beautifully renovated townhouse by the Neighborhood Development Company. The main selling points were that the building had all the charm of a classic DC row house, though the interior had all the comforts of a modern loft—namely plenty of sunlight from ten windows and a lovely kitchen with granite countertops and stainless steel appliances. Furthermore, even a realtor friend of mine stated that she and her husband were considering buying an investment property in the neighborhood since it had the highest rate of return in the city. So it was easy to make up my mind relatively quickly, and I moved in that month.”
“In the fall of 2003, with the housing prices still increasing exponentially, my partner and I decided to house hunt together for a larger place. After looking at about 80 properties in various neighborhoods, we ended up deciding on a three-bedroom duplex condo just five doors down the street. It was also a recently renovated townhouse done by the NDC, this time in conjunction with KL Associates. I was comfortable purchasing from NDC a second time because I knew that they would address and repair any problems that I might encounter with the condominium and that they had grown considerably in experience since the previous project, which I believe was one of their first. We moved in mid-March 2004 and are very fond of the place and entertain here often on our private roof deck, which offers us a view of the Capitol.”
“In terms of investment, I purchased my one-bedroom for 134K and sold it at 238K in just over 2 years. We purchased the three-bedroom at 425K in March. It appraised in November of the same year at 475K. Vacant properties on our block are finally starting to undergo renovation, and petty street crime has dropped noticeably. There is now a well-lit trendy bar across the street and walking home at night feels safer than a year ago. So we’re rather optimistic that both our own judgment, as well as NDC’s, will continue to pay off.”
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Ayana Horne |
