Concord Communities, a Washington, D.C.-based affordable housing owner and developer, has acquired Stanton Glenn, a 379-unit affordable housing community at 3048 Stanton Road SE in Washington, D.C., for $39.5 million.
Concord plans to invest more than $18 million in capital improvements to Stanton Glenn, including upgrades to the residences, common areas and infrastructure, and will continue to accept housing vouchers. Concord Communities is a wholly owned affiliate of national real estate investor manager and developer Lowe.
“Concord’s top priority is to improve Stanton Glenn and position it as a comfortable and welcoming affordable housing option in the community,” said Mark Rivers, executive vice president of Concord Communities and Lowe. “The mission of Concord Communities is to provide quality affordable housing, through rehabilitation and new construction, that benefits residents, improves neighborhoods and addresses our critical affordable housing shorta
