Rey represented Howard University’s interest and position for the development of owned parcels at 9th and V st. NW, a 10-story, 280 unit mixed use residential development, developed with partner MRP and architect SK&I under a long term, capitalized ground lease structure.

Rey led a complex zoning and entitlement process to maximize the value of the parcels, which required a lot consolidation effort with replatting of recorded lots, a Single Lot Covenant recordation with A&T Lot subdivision, a MOU with DC DOT with a public right of way easement and street dedication, FAR dedication from adjoining owned parcels, and a meaningful connection easement. Rey also negotiated the long term ground lease and development agreement associated with the transaction.

The approximately $160M construction value project generated $34M in value to the Howard University system in the form of a capitalized ground rent payment with ongoing participation.