Howard University is advancing plans to renovate and re-tenant Howard Manor, a vacant, former rent-controlled property near campus, thanks to funds from Amazon.com Inc (NASDAQ: AMZN).
The university announced Friday it has received $31.3 million from the Amazon Housing Equity Fund to renovate the 80-unit 654 Girard Street NW as affordable housing, including an $8.8 million permanent loan to acquire the building and another $22.5 million for development work.
“Howard University has a long-standing reputation of empowering its community through education and outreach,” Senthil Sankaran, managing principal of the Amazon Housing Equity Fund, said in a statement. “Through this partnership, the preservation of Howard Manor is a unique opportunity for both organizations to expand that community impact and increase the affordable housing stock in Washington D.C.”
A press release does not name the project’s developer, however, Howard, which owns the land beneath Howard Manor but not the building itself, entered into a ground lease with Urban Investment Partners in 2020. On its website, UIP lists the Howard Manor project as “current,” with renovations to include unit upgrades, HVAC and updates to the lobby, halls and roof. It is unclear if UIP remains the university’s developer.
