About AEDC | aedc

About AEDC

MAJOR PROJECTS

HISTORY & MAJOR ACCOMPLISHMENTS

Fourth Decade (current - 2002)

St. Elizabeths East Campus residential project: AEDC in partnership with Flaherty & Collins Real Estate Developers currently has under development 252 units of affordable rental housing on the historic St. Elizabeths East Campus. The project will feature a wide variety of bedroom sizes and over 14,000 square feet of supportive community facility space. Construction will begin in early 2018.

AEDC in a joint venture with Development Resources, Inc. (DRI), known as the Anacostia Gateway, L.L.C. (AGLLC), developed a 63,000 square foot building (2007) and leased approximately 50,000 square feet to the city for the relocation of Department of Housing and Community Development (DHCD) to Anacostia. The Industrial Bank of Washington and Grubbs Pharmacy has also entered into a lease to establish their first branch in Southeast Washington, DC.

Anacostia Business Improvement District (ABID): AEDC initiated the formation of the Anacostia Business Improvement District (ABID). Other founding members include, The Salvation Army, ARCH Development Corporation, Douglas Development Corporation, Curtis/Four Points, LLC and the Anacostia Gateway, L.L.C. Former Council Member Marion S. Barry introduced legislation in the City Council recognizing the BID. The ABID’s application to the Deputy Mayor of Economic Development and Planning was submitted before December, 2008. The ABID was approved by the District government in February 2012.

AEDC initiated the formation of Main Street Anacostia, Inc. (MSA) which successfully acquired Main Street Program acceptance by the DC Government. AEDC housed the MSA operation at no cost to MSA until MSA closed in 2008.

The Randle Highlands Manor Partnership developed ten (10) single family town homes which were sold to first time homeowners. AEDC was the managing general partner of the partnership.

Third Decade (2001 - 1991)

AEDC secured a grant from DHCD to enter into a limited partnership with a for-profit entity to establish a computer manufacturing facility (ORB Technologies, LP). The partnership secured SBA 8(a) certification from the Small Business Administration. It was the first CDC subsidiary that acquired 8(a) certification in the history of the SBA.

AEDC joint ventured with a non-profit entity, Bolling View Apartment, Inc., to acquire a grant from DHCD to purchase and renovate a 202 unit apartment complex to serve as transitional housing for women who had been physically and/or mentally abused. It was also to house women who had been treated for substance abuse. The city’s mental health agency reneged on its contractual promises and the premises were eventually acquired by the CIH Companies. The apartments (183) were substantially renovated and leased to residents of DC.

AEDC successfully completed the acquisition of land for the development of the Good Hope Marketplace Shopping Center. This approximately 100,000 square foot project consisting of a 55,000 square foot Safeway and 15 other retail outlets of which several are national retailers. AEDC and its subsidiaries owned 99.9% of the Good Hope Marketplace, LP, the owner of the center.

AEDC acquired a limited partnership interest in the Republic Square LP which developed in its first phase a 600,000 square foot office development at the Government Printing Office (GPO) site located at North Capitol St., and Massachusetts Avenue, NW. AEDC provided Local Small Disadvantage Business Enterprise tracking and reporting on behalf of the partnership.

AEDC founded the AEDC Scholarship Foundation to provide four (4) year college Scholarships to deserving graduates of Anacostia and Ballou Senior High Schools.

Second Decade (1990 - 1980)

AEDC formed the for-profit subsidiary of Anacostia Holding Company, Inc. (AHC). AHC, together with the East Los Angeles Community Union (TELACU) and the Commonwealth Holding Company, Inc., established the for-profit real estate development company, Eastcoast Development Corporation (EDC). EDC became a general partner of the Portals Development Associates LP.

A subsidiary of AEDC becomes one of the initial shareholders in District Cablevision, Inc. in its efforts to acquire the rights to the cablevision franchise for the District of Columbia. AHC acquired 1500 shares of stock in DCI. District Cablevision, Inc. wins the DC cable franchise license.

AEDC, as one of the founding members, was instrumental in establishing the Anacostia Coordinating Council (ACC) in Anacostia/Far Southeast, District of Columbia. The ACC was instrumental in getting the Federal District Court’s stay on the construction of the Metro Green Line station in Anacostia lifted.

The Portals Development Associates, LP, a corporation in which AEDC is a partner, wins the rights to develop the ten (10) acre site, known as the Portals in Southwest, Washington, DC. To date, over 1.5 million square feet of office and retail development has been completed. An additional 500,000 square feet of office and retail development has been completed at a total cost of more than $1.5 billion.

AEDC and AHC joined the Knox Hill Village Limited Partnership to develop 109 affordable semi-detached and detached town homes in the Buena Vista Terrace area of Far Southeast.

First Decade (1979 - 1969)

Economic Development Corporation (EDC) as a 501(c )3 organization receives funding from the Small Business Administration (SBA) as a technical assistance agency to attract and retain retail business in its target area (East of the River and South of Pennsylvania Avenue, SE to the District Line).

EDC which traded as the Anacostia Economic Development Corporation attracted several new retail businesses to Anacostia/Far Southeast including but not limited to Alexander Pope’s Funeral Home, Dick Abel’s His and Her Clothing Shop, Whiting’s Boat Dealership, 4 Guys Supermarket, etc.

EDC formerly amended its articles of incorporation and by-laws to change its name to Anacostia Economic Development Corporation (AEDC) and to become an active Title VII community development corporation.

SERVING THE COMMUNITY SINCE 1969