MilleniuM Real Estate Advisors was selected by the District of Columbia's Housing Authority to complete an appraisal of the underlying land value associated with the HOPE VI project located along East Capitol Street.

The property contains approximately 40 acres of land. It will be developed pursuant to a PUD. The site is oriented to East Capitol Street near Southern Avenue, S.E., and N.E. This location is a gateway into the City for the thousands of people who enter DC from suburban Maryland.

HOPE VI, also known as the Urban Revitalization Demonstration, is designed to revitalize the Nation's most severely distressed public housing. Congress and HUD created the HOPE VI grant program in 1992 to provide a flexible source of support for investments in public housing developments and for their residents.

The subject property is intended for mixed-use; residential/commercial and is targeted for both affordable and market rate housing. A land residual technique based on extensive market research was used as the primary approach to value.