Bradley Crossing consists of seven mid-rise buildings, built in 1953, located at 4701, 4705, and 4709 Bradley Boulevard; 6900, 6904 and 6908 Strathmore Street; 4800, 4804 and 4808 Wellington Drive; 4740 Bradley Boulevard; 4757 Chevy Chase Drive; 4730 Bradley Boulevard, and; 4750 Chevy Chase Drive, Chevy Chase. Those seven buildings contain a total of 401 apartment homes.
This acquisition presented a unique opportunity for HOC to preserve currently naturally affordable residential units as well as significantly increase the number of affordable units in the area with a very high redevelopment future rent increase potential. Upon acquisition, all unit rents were at or below 80% of the Washington, DC-MD-VA Metropolitan Statistical Area Median Income (AMI) levels. HOC successfully implemented two levels of affordability across the properties: 30% of the units (121 units) were restricted to households earning 80% or less of the area AMI. Additionally, 20% of the units (81 units) were restricted to households earning 50% or less of the area AMI, Implementation of the restrictions was phased in over the first 2-3 years following acquisition and did not displace any existing residents.