Dear Friends of EYA,
Last year we began a new tradition of kicking off the year with a letter to our broader EYA family entitled “Walk the Talk.” The name is tied to our vision of delivering on our tag line of “Life Within Walking Distance.” The purpose is to reflect on the prior year’s successes and to highlight goals and expectations for the year ahead.
2020 was by far the most unique year I have ever experienced in business and in life. The pandemic, the protests associated with social justice and the Black Lives Matter movement, and the build-up to the election had a wide range of impacts on our business and our personal lives.
Gratitude is the word that best describes the past year for me, and I believe everyone at EYA.
Gratitude for:
- The amazing EYA team who supported one another, adapted in real-time, and didn’t miss a beat.
- Our subcontractors and consultants who pivoted to the new world of virtual meetings and process in continuing our production.
- The local jurisdictions who kept the entitlement and construction process moving through virtual hearings, plan review, and inspections.
- Land sellers, lenders, Bernstein Management, and JBG Smith who demonstrated their confidence in EYA’s ability to adapt and thrive during crisis and continued to support our mission.
- Our purchasers who embraced our new virtual sales tools and processes, many buying their homes virtually and settling during these uncertain times.
- The thousands of EYA homeowners and residents who remind us of the importance of our mission to deliver homes and communities where they feel safe, secure, and connected.
To read the full letter, from EYA CEO Bob Youngentob, click here.
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In 2020, we launched Michigan Park and Riggs Park Place, two communities in NE DC offering attainably priced homes starting in the $500-600k’s in great, walkable locations.
In January, we broke ground on our 2nd joint venture with HOC. The Hurston will deliver 268 units (30% affordable) at Westside at the Shady Grove Metro.
Looking ahead, Graham Park (opening this summer) will deliver attractive, attainably priced homes on a redeveloped section of Federal Realty’s Graham Park Plaza in Fairfax.
We continue to focus on new land opportunities we can position for compelling, attainably priced townhome communities that help address the region's critical housing shortage.
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Repositioning Office and Retail to Residential |
We have placed under contract and entitled several additional office and retail properties for transformation into new residential communities.
We are very proud of the success we’ve delivered for both private and corporate landowners like Boston Properties, Regency Centers, Edens, and Federal Realty.
We see many more of these opportunities in the years ahead.
Currently, we have retail and office redevelopments underway in Montgomery County and Northern Virginia:
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Partnerships with Institutions |
We have had many successful partnerships across the Washington, DC metro area with cultural, religious, educational, and health care institutions.
We know how to optimize the value of their land and real estate portfolio to benefit our institutional partners as well as the surrounding community.
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Outlook for 2021
The outlook for new home sales is excellent and the industry is supply constrained by a shortage of entitled lots. We look forward to working with local public and private institutions to help them find value from their landholdings. We are also looking to convert more obsolete retail and commercial properties to residential helping landowners convert unproductive assets to higher and better values. We hope to work with all of you in the future and know you will help us identify and develop new sites that meet our mission of offering “Life Within Walking Distance.”
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For over 25 years, EYA has been a market leader in the development of large-scale, urban infill residential projects. With expertise in for-sale, multi-family and mixed-income housing, EYA has created over 40 exceptional neighborhoods that are home to more than 10,000 residents across Washington, DC, Maryland, and Northern Virginia.
To learn more or to speak with us about a potential project, email Aakash Thakkar, EVP, Land Acquisition and Development.
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References to "EYA" refer to EYA, LLC. EYA, LLC’s development affiliates build homes in the Virginia, Maryland, and Washington, DC metropolitan area. Individual projects are developed and sold by EYA-affiliated entities, and all representations regarding the development, construction, or sale of any project or property refers to those affiliates. Buyers should carefully review their purchase and sales agreement regarding the identity of the seller before purchasing. EYA Marketing LLC markets, advertises, and sells each EYA affiliated property as agent for the seller. |
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