Phillips Realty Capital Facilitates $58M Financing for Maryland Apartment Development in Glenarden

BY KEITH LORIA MAY 10, 2021 10:58 AM THE ST. JOSEPH APARTMENTS. RENDERING: BY PRC Varsity Investment Group has closed on a $45.1 million construction loan from United Bank for the St. Joseph Apartments, a four-story, 268-unit multifamily development in Glenarden, Md., Commercial Observer has now learned. Phillips Realty Capital (PRC) structured the capital stack financing, which also included a…

Maryland Must Build Thousands More Homes To Keep Prices Affordable, Report Says

Maryland will have to make big changes to its housing ecosystem to keep homes affordable over the next 10 years, according to a new state-commissioned report released Tuesday. The analysis from the University of Maryland’s National Center for Smart Growth and Enterprise Community Partners, a nonprofit housing lender and advocacy organization, says Maryland must add…

Biden signs orders giving economic relief to working families hit hard by COVID-19

President Joe Biden launched another front in his battle against COVID-19 on Friday by taking steps to increase food assistance for families still reeling from the effects of the deadly pandemic and laying the groundwork for a $15 minimum wage for federal workers. Biden signed executive orders giving low-income families easier access to federal nutrition and…

Voices Of Wards 7 And 8: Neighbors Explain What The Protests Against Systemic Racism Mean To Them

Demonstrators took to the D.C. streets in late May, protesting police brutality and the systemic racism Black people face. It was part of a larger movement inspired by the police killing of George Floyd in Minneapolis, but Floyd wasn’t the only name protesters chanted. They called for justice for Breonna Taylor, Ahmaud Arbery, and, more locally, Marqueese Alston, D’Quan Young, and others. In…