WASHINGTON – Howard University announced today the selection of MidAtlantic Realty Partners, LLC (“MRP”), as its preferred partner to redevelop existing surface parking lots and warehouses near the intersection of 9^th and V Streets, NW, ten months after launching a highly competitive developer selection process. 

Led by MRP, the development team also includes The Gideon Companies and Equity Residential (EQR) a publicly traded REIT that will provide investment capital.

The project will transform roughly 32,000 square feet of land into a 230,000 square foot hub of mixed-use activity. Continuing to serve the highly desirable Shaw neighborhood, the development program consists primarily of market rate and affordable multifamily residential units. Ground floor retail will further support efforts to rejuvenate the community with added pedestrian activity and visual interest. The development also furthers the connection of the transportation grid by continuing the construction of W Street. 

“I am proud of Howard’s continued efforts to drive economic development in the District.  Adding critical residential and retail amenities transforms vacant and underperforming assets into thriving communities that both improve the fabric of the neighborhood and add vitality to Howard’s mission,” said President Wayne A. I. Frederick, M.D., MBA.  “I am also particularly happy that we were able to include Gideon, which is headed up by a strong Howard University Alumni with a history of giving back.”

The 9^thand V Street project furthers the University’s real estate strategy, championed by President Wayne A. I. Frederick, to monetize underutilized real estate assets and generate capital for mission-based reinvestment. Under a long-term ground lease structure with MRP, Howard will maintain fee simple ownership of the property to preserve and enhance its real estate portfolio. Using an innovative transaction structure, the University will realize fair market value, as well as long-term participation in the project’s economic success. 

“The entire MRP Residential team was honored to be selected and excited to collaborate with Howard on this important redevelopment project,” said Bob Murphy, managing principal.  “This furthers our investment in the greater Shaw neighborhood, which includes the Wren – an adjacent project containing a Whole Foods – in which the University is a partner. We are also thrilled to start a partnership with EQR, a world class multifamily owner and investor.”

Positioned among the Shaw neighborhood’s latest mixed-use developments and iconic entertainment assets, development of this site presents an opportunity to build on the community’s revitalization momentum. Residents and visitors alike will benefit from the extension of W Street, establishing a new street grid to improve access for pedestrians, cyclists and motorists.

“This was a complex transaction which included multiple parties in order to achieve maximum density and impact,” said Anthony Freeman, Howard University real estate executive.  “Howard is one of the most active institutions in the nation executing these type of commercial initiatives.  This is yet another example of successful partnerships with premier regional and national developers to breathe new life into neighborhoods, while retaining fee ownership of the University’s robust portfolio of assets.”

The partnership for this project will support the University’s mission through student internships, a student scholarship program, and direct developer involvement in case studies/experiential learning opportunities.  

Howard was supported by real estate advisor, Alvarez & Marsal, and legal advisor, Lerch, Early, & Brewer to successfully close this noteworthy project. 

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About Howard University

Founded in 1867, Howard University is a private research university that is comprised of 13 schools and colleges. Students pursue studies in more than 120 areas leading to undergraduate, graduate and professional degrees. The University operates with a commitment to Excellence in Truth and Service and has produced one Schwarzman Scholar, three Marshall Scholars, four Rhodes Scholars, 11 Truman Scholars, 25 Pickering Fellows and more than 70 Fulbright Scholars. Howard also produces more on-campus African-American Ph.D. recipients than any other university in the United States.  For more information on Howard University, call 202-238-2330, or visit www.howard.edu.

About MRP

Founded in 2005, MRP is a real estate operating company focused on opportunistic and value-add investment in the Washington, DC, Washington, D.C., Maryland, Virginia, Pennsylvania, New York City, and Nashville. Since the firm’s inception, MRP has been among the most active local investors in office, multifamily and land investment, deploying $5 billion (total capitalization) – an average of over $303 million per year. MRP has a current interest in 14.5 million square feet of existing or under construction properties with land interests totaling over 10.2 million square feet. MRP was ranked as the third most active developer in the Washington, DC, metropolitan area in 2014 according to the Washington Business Journal and has consistently remained in the top ten since.



MRP provides to its institutional capital partners a full array of real estate services including acquisition/disposition, development/construction management, property management and asset management services, and financial reporting services. MRP focuses on strategic investment opportunities in both high barrier-to-entry submarkets and high growth submarkets. 

Media Contact: Alonda Thomas, Alonda.Thomas@Howard.edu