Mariposa & U Street Apartments

In March 2011, the Agency approved an OPA to facilitate the development of a new four story residential rental project on the southwest corner of Mariposa and U Streets, consisting of thirty-seven (37) upscale residential units. Under the OPA, a grant in the amount of $800,000 will be made to the project by the Agency.  In return, the Agency will receive moderate income covenants for sixteen (16) of the units.  Construction is scheduled to commence in FY 11/12.