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Park Place at Addison Road Metro Update 03/02/23

Banneker Ventures Secures $20M Loan from Amazon for Capitol Heights Multifamily

Banneker Ventures has secured a $20 million loan from Amazon.com Inc.’s housing equity fund for Park Place at Addison Road Metro. The project is set to feature 193 affordable housing units along with 12,000 square feet of retail anchored by a Bank of America branch. This Class A community will include 24-hour concierge service, a rooftop deck with grilling stations, an outdoor kitchen for dining and entertaining, state-of-the-art fitness facility, media room, pool room, and lushly landscaped courtyard with outdoor seating areas. Construction is expected to be complete in 2025.

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