The Menkiti Group Celebrates Completion of Historic MLK Gateway Project in Anacostia
WASHINGTON, April 25, 2024 /PRNewswire/ -- On Thursday, The Menkiti Group was joined by Mayor Muriel Bowser and city officials to celebrate the final milestone for MLK Gateway. MLK Gateway is a powerful example of a successful collaboration between the DC Government agencies, private partnerships, and the local community. Located at the corner of Marion Barry Avenue (formerly Good Hope Road) and Martin Luther King Jr. Avenue SE, MLK Gateway is a community-oriented project that drives neighborhood impact in the heart of historic Anacostia.
"We are proud to celebrate the completion of the final phase of MLK Gateway, a catalytic project east of the river that serves as a center of commerce for Historic Anacostia," said Bo Menkiti, Founder and CEO, The Menkiti Group. "This significant milestone underscores Mayor Muriel Bowser's commitment to bringing essential goods and services, retail opportunities, and jobs to the community east of the river and demonstrates how the power of collaboration between the public and private sectors can truly drive neighborhood impact."
Delivering on Councilmember Trayon White Sr.'s commitment to bringing jobs and business opportunities to Ward 8, MLK Gateway Phase II provided 69 jobs to Ward 8 residents and utilized 10 Ward 8 Certified Business Enterprises to complete the project. Furthermore, MLK Gateway has enhanced the local economy by bringing neighborhood serving retail including two sit-down restaurants, a café and multistory office space, supporting almost 250 jobs.
"As we come together for the ribbon cutting of the MLK Gateway II project, we celebrate not just the physical structure, but the transformative impact it will have on our community. This project offers a vibrant mix of retail opportunities and job prospects for our residents. By activating this community corridor, we are strengthening connections, providing increased access to goods and services, and paving the way for a brighter future for all those living East of the River," stated Councilmember White.
Anchored by Washington, D.C.'s Department of Housing and Community Development (DHCD), MLK Gateway Phase II brings forth a brand-new office headquarters in the historic Anacostia neighborhood and is part of Mayor Muriel Bowser's initiative to locate public agencies on the east side of the Anacostia River. This facility serves as a beacon of excellence, empowering DHCD's dedicated men and women as they ensure access to quality housing throughout the District of Columbia.
"DHCD is excited to be the anchor tenant in the MLK Gateway Phase II project, and through Mayor Bowser's vision and leadership, DHCD will continue to be a part of Anacostia," said DHCD Director Colleen Green, "DHCD has a key role in revitalizing communities, and will continue to leverage local and federal resources to produce and preserve opportunities for affordable housing across the District."
Additionally, this phase will be home to Grounded, a plant shop, cafe and wellness center, and a new Keller Williams Capital Properties (KWCP) office, expanding the KWCP footprint to four offices in the District and bringing the only national residential real estate company east of the Anacostia river. At MLK Gateway, KWCP will establish the East of the River Real Estate Academy, a training center for aspiring real estate entrepreneurs designed to open doors to new opportunities for local residents.
"This intersection is often people's first touchpoint when they come East of the River, a true gateway into Ward 8. We wanted it to be an entryway that symbolizes the strength, resilience, creativity, and flavor of Anacostia, while also bringing jobs, opportunity, and investment to the neighborhood," said Mayor Bowser. "While we may be cutting the ribbon on Phase II of the MLK Gateway today, the years-long path that led us here has been dotted with victories along this corridor, driven by a combination of District investment and support from business and community partners."
Through a series of engaging meetings with community groups, residents, and local businesses, The Menkiti Group has effectively brought the city and local residents' vision for Anacostia to life. Proud to honor and implement this vision, The Menkiti Group remains committed to their mission of transforming lives, careers, and communities through real estate, with a strong focus on making a lasting impact in the neighborhood.
"When we work together as public and private partners to make strategic impacts in our neighborhoods, we have the power to unlock new opportunities for our residents and businesses to thrive," said Deputy Mayor for Planning and Economic Development Nina Albert. "Through the Mayor's investments in Ward 8, together we can ensure Anacostia's continued growth and place as one of our city's premier commercial and arts corridors."
The two phases of the MLK Gateway development project were funded from a variety of public and private funding sources that included $18.2 million in New Market Tax Credits and $15.4 million in Opportunity Zone equity. Phase I also received a $700,000 grant from the District's Neighborhood Prosperity Fund and Phase II received a $250,000 grant from the same fund.
"After negotiating the terms of the lease, DGS was thrilled to lead the project management oversight of the campus to support programmatic efforts of DHCD," said DGS Director Delano Hunter. "DGS is proud to continue Mayor Bowser's vision of expanding economic development and services East of the River through the relocation of government offices. We were pleased to partner with DHCD, DMPED, Menkiti Group, Studios Architecture, Consigli & Keystone Construction, and all the fantastic collaborators on this incredible endeavor. Even more exciting is that through this project, 178 District residents were involved in the construction of the project, with 105 of them from Wards 7 and 8. As we continue to build, maintain, and sustain the District's facilities, we are eager to work with District agencies in supporting their programmatic needs for the wellbeing of District residents."
Bo Menkiti and The Menkiti Group were joined at Thursday's ceremony by Mayor Muriel Bowser, At-Large Councilmember Kenyan McDuffie, Deputy Mayor for Planning and Economic Development Nina Albert, Department of Housing and Community Development Director Colleen Green, development partner Shift Capital, and community members as well as representatives and partners of the projects.
"At The Menkiti Group, we have steadfastly pursued our mission of transforming lives, careers, and communities through real estate over the past two decades. MLK Gateway Phase II represents more than just a development project; it symbolizes a collective commitment to the prosperity and well-being of Ward 8 and the greater Washington, D.C. area. As we celebrate this achievement, we look forward to the continued growth and success of the Anacostia community. We look forward to further collaboration with the community, showcasing the resilience and vitality of Washington DC's local businesses and residents residing east of the river," said Menkiti.
ABOUT THE MENKITI GROUP
Founded in 2004, The Menkiti Group is a 100% minority-owned Certified Business Enterprise headquartered in Washington, DC, with additional offices in Worcester, Massachusetts. The Menkiti Group is an integrated real estate services company focused on a double bottom line, measuring success in terms of positive social impact and financial returns. The company was founded with the mission to transform lives, careers, and communities through real estate, and they are committed to driving neighborhood impact and engaging in communities with a long-term lens. Their focuses include urban investment, residential and commercial development, residential sales, and commercial brokerage.
The company's approach to urban neighborhood transformation and investment is centered upon partnerships with capital investors, local developers, community stakeholders, and small business owners to create thriving urban spaces that drive sustainable neighborhood impact and produce economic growth. The enterprise is dedicated to making smart investments in neighborhoods that are often on the "other side of perception," to directly impact community vitality. Projects range from residential renovations and the development and tenanting of main street commercial properties to large-scale, mixed-use, transit-oriented development projects.
Over the past 20 years, The Menkiti Group has invested over $390MM in emerging urban neighborhoods, worked on the development of over 4.7MM SF of real estate, and has built a pipeline with deals worth over $2 billion under control. Catalytic projects include MLK Gateway, Bond Bread with Howard University, The Yards Parcels G1 and G2 in partnership with Brookfield, St. Elizabeths Parcels 7, 8, and 9, and Parcel D-4 in partnership with The Community Builders in Boston.
SOURCE The Menkiti Group
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