The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, in partnership with Marshall Heights Community Development Organization (MHCDO) Inc., today announced the financial closing and groundbreaking of The Waymark, a 109-unit, affordable community in Washington, D.C.’s Ward 7. The new housing development will be reserved for families and individuals earning up to 30%, 50% and 80% of the Area Median Income (AMI).
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Groundbreaking at The Waymark (Photo Credit: The NRP Group) L-R: Scott Hutter, DCHFA; Wendell Felder, Ward 7 council member; Lisa Williams, DHCD; Colleen Green, Director, DC Department of Housing and Community Development; Tori O’Brien, SVP, Business Development Officer, U.S. Bank; David Retland, MHCDO Chairperson; Babatunde Oloyede, MHCDO, President & CEO; Charles Moreland, former Shadow Member of the U.S. House of Representatives; Chris Marshall: Vice President of Development at The NRP Group
The milestone underscores The NRP Group’s commitment to expanding its national portfolio of high-quality, best-in-class affordable housing at a time when the country faces heightened economic uncertainty and tightening capital markets.
“This is a uniquely challenging site, but it offers great connectivity through the nearby Metro station and bus lines,” said Chris Marshall, Vice President of Development at The NRP Group. “The Waymark exemplifies our strategic approach: partnering with mission-driven organizations like MHCDO to fearlessly tackle tough but very well-located sites, to ensure that cost-burdened families can afford easy access to transportation options and daily amenities. This project is a testament to the District’s commitment to ensuring essential housing remains viable, even as development hurdles intensify.”
Located at 4435 Benning Road NE, the transit-oriented community is just one block from the Benning Road Metro Station and multiple bus lines, offering residents means to reach the entire District. The site provides nearby bike-share access and pedestrian-friendly infrastructure, creating a highly walkable environment in a neighborhood where land availability is limited and parking is scarce.
The project coincides with the District’s broader revitalization efforts, including the planned redevelopment of the RFK Stadium site and the return of the Washington Commanders in 2030. The housing development is located one stop away from the Stadium-Armory station, giving residents quick access to the RFK Stadium campus, which is undergoing a transformative $2.7 billion redevelopment that will create approximately 14,000 construction jobs and 2,000 permanent positions, fueling economic growth in Ward 7.
“MHCDO has proudly served under-resourced neighborhoods in Washington, D.C. for more than 45 years, and we are honored to collaborate with The NRP Group on this transformative project,” said David Retland, Chairman of Marshall Heights Community Development Organization. “Our headquarters is located just six blocks from the new development, which allows us to remain deeply connected to the residents of this community. This partnership sets a new precedent for delivering high-quality affordable housing that ensures residents have access to the resources they need to thrive. Through our holistic approach to economic development, we aim to help Ward 7 residents move up the economic continuum and create pathways to better lives and greater opportunities.”
The Waymark comprises a mix of studios, one-, two- and three-bedroom residences, including 22 permanent housing units reserved for individuals at risk of homelessness or previously unhoused.
The 109-unit, single-building apartment spans nine floors and features a wide range of amenities. On the first floor, a multi-use space will serve as a hub for resident programs, while the second floor will feature a fully equipped fitness center and a reservable family function room for events and gatherings. MHCDO will provide a robust suite of resident services, including financial literacy workshops, job readiness training and access to professional development opportunities.
Outdoors, residents will enjoy a landscaped front lawn along with a well-designed playground and seating areas that encourage social interaction. In addition, the project will include a placemaking art installation to reinforce neighborhood identity and contribute to the beautification of the site. The piece will be highly visible and created by a local artist.
Financial partners for the new development include a mix of public and private institutions, including the DC Department of Housing and Community Development (DHCD), which provided soft debt; the DC Housing Finance Agency (DCHFA), serving as the bond issuer; and DC Green Bank, supporting sustainable development initiatives. Private sector partners include KeyBank as the lender and U.S. Bank as the tax credit investor.
“This project exemplifies what can be achieved when public agencies, private partners, and the community work together,” said Colleen Green, Director of the DC Department of Housing and Community Development (DHCD). “It is truly responsive to the housing needs of District residents and reflects our commitment to long‑term affordability, equitable development, and expanded pathways to economic mobility.”
The Washington, D.C. metropolitan area remains a priority for The NRP Group and the firm’s latest expansion reflects strong confidence in the region’s long-term rental housing market. The NRP Group has developed more than 68,000 apartment homes since 1994, and currently manages over 33,000 residential units across the U.S.
Construction for The Waymark will be completed by the end of 2027.
About The NRP Group
The NRP Group is a vertically integrated developer, owner, builder, and manager of best-in-class multifamily housing with a mission to create exceptional rental housing communities for individuals and families, regardless of income. Since its founding in 1994, NRP has developed more than 68,000 apartment homes and currently manages over 33,000 residential units.
Through its disciplined approach to vetting opportunities, NRP has established a track record of delivering impressive returns for investors. The company’s formidable size and depth of talent provide the experience and infrastructure necessary to execute developments of varying degrees of complexity and scope in both urban-infill and suburban locations, including market-rate, affordable, mixed-income, and senior housing.
The NRP Group has been consistently named a largest developer and builder in the U.S. on the NMHC “Top 50” lists, the Top 5 on the Multi-Housing News’ “Top Multifamily Developers” list, named a Top Affordable Housing Developer by Affordable Housing Finance, and is a five-time recipient of NAHB’s Best Multifamily Development Firm of the Year award. The NRP Group has become the top multifamily developer in the U.S. that creates both affordable and market-rate housing at a national scale. Based on over 30 years of experience and expertise, NRP provides construction and property management services to outside owners and developers. For additional information, visit www.nrpgroup.com.
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