DC Team Assembles in Delaware for Luxury Apartment Project
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CHRISTIANA, DE—Some familiar faces — at least to the local DC commercial real estate community — are working on a luxury apartment project in this Delaware town.
NVCapital Advisors of Vienna, VA, and M-C Development, an affiliate of a Delaware homebuilder, are partnering to build a luxury apartment community here. They purchased the 30-acre site this summer and have begun construction on the project, called Emblem at Christiana. It will be a 245-unit complex with nine buildings.
The first set of units due for occupancy in the spring of 2016. By late 2016, the project is scheduled to be fully delivered.
The project will be constructed by Whiting-Turner and managed by Jefferson Apartment Group, both headquartered in the Washington, DC. PNC Bank is providing construction financing of $30 million and NVC and MCD have provided $12 million in equity…
