M id A tlantic Real Estate Journal — September 2023 — 13A
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Arrays to generate 2,120 MWh of Clean Energy Annually at Holly Spring Meadows Apartments FCP Partners with Standard Solar for 2.1 Megawatt Array System in Forestville, MD F
ORESTVILLE, MD — FCP marked the comple- tion of a 2.1-megawatt array system at Holly Spring Meadows Apartments in For - estville in partnership with Standard Solar . The New Community Solar Energy Gen - eration System consists of an 800-kilowatt (kW) carport ar - ray and a 921-kW rooftop array at the 224-unit apartment com - munity, equivalent to offsetting the carbon emissions of 1.6 million pounds of coal or charg- ing 182 million smartphones for a year. The system is com- prised of nine building arrays, nine carport arrays, and three points of interconnection to the PEPCO electrical grid. This combination of roof and carport will generate a combined 2,120 megawatt hours of clean energy annually, allowing it to offset the demand of more than 300 homes. 50% of energy produced on site will be allocated to in- dividuals of low to moderate income households.
Holly Spring Meadows solar project ribbon-cutting
Back-to-School Backpack event
Officials from FCP, Stan - dard Solar, and New Co- lumbia Solar participated in a ribbon-cutting event on Saturday, August 5th, mark - ing the completion of the proj- ect’s installation. In addition, FCP, through its FCP Serves employee-led community out- reach initiative, welcomed residents and their families with a Back-to-School Back- pack event, giving away 75
backpacks stuffed with school supplies in what has become an annual event at communi- ties throughout the company’s portfolio. FCP donated more than 800 backpacks through - out its apartment portfolio in the past year. “In 2019, FCP began ex - ploring renewable energy solutions that would provide greener homes and improve returns for our investors,” said
Spring Meadows,” said FCP’s Lollie Loflin . “This com- munity solar project supports FCP’s robust energy savings strategies and reduces the overall carbon footprint of the community. Along with the exciting news on our energy strategies, we are thrilled to send our youngest residents off to school this year with new backpacks stuffed with school supplies!” MAREJ
FCP’s Dara Vaziri . “After two years of extensive due diligence, we partnered with New Columbia Solar for FCP’s first solar deal ever. New Co - lumbia Solar has done a great job building an approximate 2.1-megawatt system that will power approximately 300 homes annually.” “FCP is thrilled to be part - nering with Standard Solar in our first solar array at Holly
Feldman Ruel Urban Property Advisors achieves above- list price in 18 days for rare Washington DC property
the community we have served for over two decades. Now we can serve even more young people with free art classes, art therapy and creative work- shops for all ages. We can’t wait to invite even more community members to make art with us,” said Christie Walser, executive director, Project Create. Utilizing Feldman Ruel’s marketing process and tradi- tional hard work, the company successfully garnered multiple offers from highly qualified buyers within 18 days of mar- keting the property. Recogniz- ing that this transaction likely constituted the seller’s final significant liquidity event prior to retirement, Feldman Ruel was able to create a competitive environment quickly. This ap- proach successfully secured an above-list-price purchase price despite the prevailing macro- economic headwinds resulting from rising interest rates and the tight debt markets. MAREJ
WASHINGTON, DC — Feldman Ruel Urban Prop- erty Advisors announced the sale of 2210 Martin Luther King Jr. Ave. SE, a vacant property featuring a two-level commercial building situated on a 5,356 s/f lot in the Anacos - tia neighborhood of Washing - ton, DC. An existing building with green space and MU-7B zoning is extremely rare along Martin Luther King Jr Ave. SE. Multiple offers were received within the first two weeks of the marketing process, and the as- set sold for $1,220,000, 101.67% of the list price, after only 18 days on the market. Prior to the sale, the prop- erty was occupied for almost half a century by the Ani - mal Clinic of Anacostia, the only veterinary clinic located East of the River. LaMarr Datcher, Josh Feldman, Ian Ruel, and Brandon Cardwell of Feldman Ruel had the listing assignment to
2210 Martin Luther King Jr. Ave. SE based nonprofit that promotes creative youth development through multi-disciplinary arts education, arts enrichment, and art therapy. “The purchase of 2210 Martin Luther King Jr. Ave. SE provided Project Create with a unique oppor - tunity to secure additional
market the property on behalf of the seller, the owner of the veterinary clinic, who had long intended to part with the property upon retirement. Feldman Ruel also procured the buyer in this transaction. The property was purchased by Project Create, a community-
programmatic space in His- toric Anacostia. With develop - ment happening in Anacostia at a lightning-fast pace and gentrification threatening to displace small nonprofits like ours as well as residents, this is a chance for Project Create to expand our permanent home in
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