Eluvial Enterprise receives $300,000 grant for multi-family, senior housing development

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Eluvial Enterprise, a minority-led real estate developer, has received a grant of $300,000 for its planned 73-unit multi-family affordable housing project in the DC metropolitan area.

Washington, DC, April 12, 2023 (GLOBE NEWSWIRE) — Real estate developer and brokerage, Eluvial Enterprise, has received a $300,000 grant, which will help it to build a planned 73-unit, multi-family development out of shipping containers, housing low-income senior citizens in the DC metropolitan area.

The grant, which comes from an e-commerce giant’s housing equity fund, will help the company undertake due diligence and other pre-construction efforts for the project, with an estimated cost of $40 million and is expected to be completed in 2025. Eluvial is part of a cohort of 12 real estate developers led by Black, Indigenous, and People of Color (BIPOC) that was selected to receive a total of over $5 million.

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The grant aims to provide funding to BIPOC-led developers for constructing affordable housing in areas such as the District of Columbia, Seattle, and Tennessee, which will help ethnic minorities redevelop their own communities. According to Dabrielle Goodwin, President and Principal Broker of Eluvial Enterprise, the company applied for the grant and was accepted after it demonstrated past performance and experience in the container-housing industry. Its application was also boosted by the DC government, referring to Eluvial as a leading shipping container developer in the area.

Located in North Brentwood, the project is a shipping container building, constructed with a concrete base and 40-foot shipping containers stacked on top. This type of construction is typically more cost-effective than conventional housing, and can be completed quicker, due to its modular nature. Once completed, the project will serve seniors (55 years old and above) in the 30% to 80% bracket of the DC metro area’s median income.

Goodwin says it’s time that more affordable housing projects in the US begin using shipping containers, due to their abundance, their durability, and affordability.

“Container apartments are really common in Europe, but in the US, not so much. There is a huge lack of affordable housing here, and using containers can help solve that, because the US has a huge amount of shipping containers that are sitting dormant – more than any other country.”

Eluvial Enterprise aims to build communities for people of color, especially those in historically underserved areas. It aims to help shrink the wealth gap in the US, where the net wealth of a typical Black family is around one-tenth that of a White counterpart.

“I want to be able to show that we, a minority-led developer, can build a sustainable and affordable product for minorities. We also sat with seniors and talked with them to find out their specific needs and incorporate this into our project. This includes having more storage space, as many of the seniors are downsizing and moving out of larger homes, and they will bring a lot of their stuff with them.”

The project, which will be named Mayola Village, after Goodwin’s grandmother, will feature the work of local artists, bringing inspiration to the community. The artists will create murals and design community gardens and other spaces where people can sit, relax, and meditate.

“My grandma is my heart, and I want to dedicate something to her before she leaves this world. I want her to be proud of the fact that her granddaughter built a whole apartment building bearing her name. I also want the building to be part of my legacy that I can leave to my future children. But most of all, I want it to become a testament of our contribution towards providing Americans with affordable housing,” Goodwin says.

Media contact:

Name: Anisha Malik

Email: [email protected]

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