Acquisition through the District of Columbia’s Tenant Opportunity to Purchase Act (TOPA) to ensure long-term future for quality, affordable housing in Southeast Washington
Enterprise Community Development, Inc. (ECD), an affiliate of Enterprise Community Partners, closed on the $25.7 million purchase of Skyland Apartments in the Randle Heights neighborhood of Southeast Washington, D.C. from WC Smith. Enterprise Community Development’s acquisition of the Skyland Apartments was executed through the District of Columbia’s Tenant Opportunity to Purchase Act (TOPA).
Pursuant to TOPA, Skyland Apartment residents were offered the opportunity to match a third-party contract of sale in late 2019. At that time, the tenant association exercised the right to pursue acquisition of the property and launched a process to select a development partner. Enterprise Community Development first met with residents in February 2020 to discuss its approach to partnering with them to continue providing quality, affordable housing at Skyland Apartments. The COVID-19 pandemic’s outbreak in March 2020 led to the suspension of TOPA timelines. The District resumed TOPA timelines in August 2021, and the tenant association restarted its competitive process to select a partner, culminating in the selection of Enterprise Community Development.
Enterprise Community Development will focus on the property’s redevelopment and rehabilitation efforts in collaboration with residents to create a cohesive platform for coordinated redevelopment planning. ECD secured interim acquisition funding from EagleBank and Capital Impact Partners (CIP).
“The Skyland Tenants Association are thrilled to partner with Enterprise Community Development,” said Nicole Spence, president of the Skyland Tenants Association. “As a community, we are grateful for policies like TOPA in the District of Columbia which helped the residents of Skyland Apartments keep our homes and rents affordable. We look forward to working with Enterprise Community Development in developing a livable community that Skyland residents are proud of.”
“The acquisition of Skyland Apartments was a true team effort that reflects the tenacity of our collective talent and commitment to expanding our resident-focused impact in the nation’s capital,” said Senior Vice President of Community Development Rob Fossi. “We look forward to working with residents and community stakeholders to plan and execute an even more promising next phase in the Skyland Apartments story.”
“We thank the residents and tenant association for selecting Enterprise Community Development. We look forward to working collaboratively with them in creating a vibrant future for Skyland Apartments, one that supports the long-term future of quality, attainable housing in this important and evolving neighborhood within the District of Columbia. As with all our residential properties, we aim to ensure that residents have access to resources and pathways to achieve life goals and foster upward mobility,” said Brian McLaughlin, president of Enterprise Community Development.
Built in 1939, Skyland Apartments is a Naturally Occurring Affordable Housing (NOAH) project east of the Anacostia River in Ward 8. The property’s 224 units, consisting of one- and two-bedroom duplexes and one-bedroom flats, occupy 24 two-story garden-style and duplex apartment buildings. These buildings represent more than 10,000 square feet of ground-level commercial space spread over a 9-acre site. Skyland Apartments are conveniently located close to several bus lines, accessible to three Metro stations and close to employment hubs in the District, Maryland and Virginia.
Winn Management is currently serving as property manager for Skyland Apartments.
Enterprise Community Partners is a proven and powerful nonprofit that improves communities and people’s lives by making well-designed homes affordable and connected to opportunity. As a social enterprise, we bring together the nationwide know-how, policy leadership, partners, donors and investors to multiply the impact of local affordable housing development. Over more than 35 years, Enterprise has created 662,000 homes, invested nearly $53 billion and touched millions of lives. Join us at www.EnterpriseCommunity.org.
Enterprise Community Development (ECD) specializes in high-impact residential development, property management and resident supportive services. With 60 years of collective experience, ECD was formed in January 2020 through the combination of Enterprise Homes, Inc. and Community Preservation and Development Corporation. Setting high standards for community planning, affordable housing and a curated residential experience, ECD strives to continue leading innovative solutions in the Mid-Atlantic’s housing market. The fifth-largest non-profit affordable housing provider in the country, and the largest regional provider in the Mid-Atlantic, ECD has developed more than 16,000 well-designed homes in over 100 communities across the Mid-Atlantic. ECD has offices in Baltimore, Washington, DC and Richmond and is part of the Enterprise family of companies. For more information, visit https://www.EnterpriseCommunity.org/financing-and-development/community-development.
