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HERE EAST ANNOUNCES PARTNERSHIP WITH CREATE JOBS TO STRENGTHEN TIES BETWEEN THE CAMPUS AND LOCAL COMMUNITY JUNE 2019 Here East, the technology and innovation campus and Create Jobs have announced a new partnership that will provide opportunities for the community in East London to gain skills and employment through ... LORCA REVEALS THIRD COHORT OF CYBERSECURITY SCALEUPS JUNE 2019 The London Office for Rapid Cybersecurity Advancement (LORCA) today announces the 15 scaling cyber companies that will form its third cohort. HERE EAST TO HOST SMITHSONIAN’S INTERNATIONAL INNOSKATE FESTIVAL MAY 2019 Today, Here East, the tech and innovation campus, is announcing it will be hosting the Smithsonian’s Lemelson Center for Study of Invention and Innovation’s seventh Innoskate Festival. HERE EAST APPOINTS LOUISE CONOLLY-SMITH AS HEAD OF SPECIAL PROJECTS (CREATIVE) MAY 2019 Here East has appointed Louise Conolly-Smith as Head of Special Projects (Creative) with a focus on video games and eSports for the tech and innovation campus. BID TO BRING LEEDS' GLOBE ROAD SITE BACK TO LIFE MOVES FORWARD WITH £180M PROPOSAL MAY 2019 Investors behind Get Living PLC submit application for new 5 acre build to rent’ neighbourhood More than 750 rental homes and new tree-lined canalside public pace proposed GET LIVING REACHES 3,000 OPERATIONAL HOMES MILESTONE WITH LAUNCH OF 275 NEW HOMES AT MIDDLEWOOD LOCKS, SALFORD MAY 2019 The UK’s leading build to rent operator Get Living, has launched its first 275 new homes at New Maker Yards within Middlewood Locks, located between Manchester and Salford. Once complete, New Maker ... ENGLISH NATIONAL BALLET REHEARSALS FOR CINDERALLA TO TAKE PLACE AT HERE EAST 25TH APRIL 2019 London 25th APRIL 2019: Here East has today announced that rehearsals for its upcoming production of Cinderella will be held at the tech and creative campus in the Queen Elizabeth Olympic Park. PLEXAL AND MY LIFE MY SAY LAUNCH INCLUSIVE DESIGN ACCELERATOR SUPPORTED BY MAYOR OF LONDON 4th April 2019 Today, the Mayor of London Sadiq Khan is supporting the launch of a new inclusive design accelerator, OpenDoor. STAFFORDSHIRE UNIVERSITY OPENS SPECIALIST ESPORTS HUB AT HERE EAST 12TH MARCH 2019 Here East, have today announced that Staffordshire University will be opening a new digital innovation centre, at the award-winning campus located in Queen Elizabeth Olympic Park. HERE EAST AND PLEXAL ANNOUNCE PARTNERSHIP WITH TEXAS BASED CAPITAL FACTORY 11TH MARCH 2019 Plexal and Here East have announced a new partnership with Texas based entrepreneur campus, Capital Factory. The partnership will seek to open up expansion opportunities between their communities with... HERE WAST REVEALS INAUGURAL 'EAST LONDON INNOVATORS' COMMUNITY SHOWCASING DEPTH OF TALENT IN EAST LONDON BOROUGHS 27TH FEBRUARY 2019 Here East, today launched its inaugural ‘East London Innovators’ showcase, identifying outstanding Londoners who are making a significant contribution to the business, cultural and social landscap... APL Logistics relocates UK offices to Delancey's Here East 19th February 2019 Here East, have today announced that APL Logistics will be relocating its UK offices to its award winning campus located in Queen Elizabeth Olympic Park. NEW PARTNERSHIP COULD  BREATHE LIFE INTO PORTSMOUTH CITY CENTRE 30TH JANUARY 2019 Specialist property investment and development advisory firm Delancey could partner with Portsmouth City Council to reinvigorate and breathe long-awaited new life into Portsmouth city centre. PLEXAL BOLSTERS GLOBAL CYBERSECURITY HUB WITH TWO INTERNATIONAL PARTNERSHIPS 22ND January 2019 Innovation centre Plexal, which delivers LORCA, the government-backed cybersecurity programme, today announces partnerships with the Global Cyber Alliance, City of New York, and the New York Economic ... LORCA UNVEILS 11 CYBER INNOVATORS TASKED WITH TACKLING THE INDUSTRY'S BIGGEST CHALLENGES 9TH JANUARY 2019 The London Office for Rapid Cybersecurity Advancement (LORCA) today announces the 11 scaling cyber companies that will form its second cohort. Selected by industry leaders, these businesses represent ... THE V&A UNVEILS PLANS FOR TWO NEW SITES AND THE FUTURE OF ITS COLLECTION IN LONDON’S QUEEN ELIZABETH OLYMPIC PARK 1ST NOVEMBER 2018 The V&A has unveiled plans that will revolutionise how its world-leading collection of art, design and performance is accessed, explored and experienced. The V&A East project will create two i... GET LIVING OPENS DOOR TO RECAPITALISATION AND TARGETS 12,500 HOMES JULY 2018 • £600m of new co-investment with Oxford Properties contributes to next growth phase • Targeting 12,500 homes with a projected value of c£5.5bn across London and top UK cities • Delancey, Qa... GOVERNMENT INVESTS £13.5M IN THE LONDON OFFICE FOR RAPID CYBERSECURITY ADVANCEMENT AT HERE EAST 27 JUNE 2018 • Secretary of State for Digital, Culture, Media & Sport Matt Hancock officially opens government-funded London Office for Rapid Cybersecurity Advancement (LORCA) • Newly named centre will po... DILLER SCOFIDIO + RENFRO WIN COMPETITION FOR V&A COLLECTION AND RESEARCH CENTRE 24 MAY 2018 The V&A has appointed Diller Scofidio + Renfro (DS+R), with Austin-Smith:Lord, to lead the design of a pioneering new Collection and Research Centre planned for Here East in London’s Queen Eli... DELANCEY’S CLIENT FUND AND LRC GROUP COMPLETE THE SALE OF THE ICONIC ROYAL MINT COURT SITE 21 MAY 2018 A joint venture between client funds of real estate investment advisory company Delancey and the LRC Group, today completed the sale of the iconic Royal Mint Court site, to the People’s Republic of... WORLD’S LARGEST CHILDREN’S CHESS TOURNAMENT 25 APRIL 2018 The Delancey UK Schools’ Chess Challenge attracts thousands of school children to take part and support continues to grow. DELANCEY BRITISH NATIONAL ALPINE SKI CHAMPIONSHIPS RETURN TO TIGNES 25 APRIL 2018 Entries for the 2018 Delancey British National Alpine Ski Championships are now open with the event again returning to Tignes, France for the fourth straight year. PRS NEIGHBOURHOOD DESIGNS FOR LEEDS’ SOUTH BANK UNVEILED 21 MARCH 2018 Get Living has revealed plans to invest up to £180m in 756 ‘build to rent’ homes in Leeds. BID TO BRING HIGH STREET SITE BACK TO LIFE MOVES FORWARD WITH £200M PROPOSAL 4th January 2018 Plans to transform Glasgow’s High Street area, by investing £200m in a new 7.5 acre residential neighbourhood of more than 700 homes for rent, have been submitted to Glasgow City Council. 3D TECH GIANT HOBS STUDIO TO MOVE HQ TO HERE EAST’S GROWING CREATIVE CLUSTER 14th November 2017 Here East is today announcing that Hobs Studio, the UK’s largest 3D printing bureau, has chosen the campus as the new home for its London headquarters MAJOR FUNDING FOR THE NATIONAL PORTRAIT GALLERY OCTOBER 2017 Major funding for The National Portrait Gallery to give thousands of free activity books and provide workshops for the children of london’s hospitals. LEADING GAMES DEVELOPER SPORTS INTERACTIVE RELOCATES TO HERE EAST OCTOBER 2017 Here East has announced that the world’s leading developer of football management games, Sports Interactive, is relocating its entire operation to the East London technology and creative campus. PUBLICIS DRUGSTORE AND PLEXAL IN NEW PARTNERSHIP TO HELP STARTUPS AND CORPORATES COLLABORATE 12 SEPTEMBER 2017 Publicis Groupe’s open innovation and startup offering — Publicis Drugstore will partner with Plexal, the new innovation destination for technology entrepreneurs and global businesses. LADBROKES CORAL LOCATES NEW INNOVATION AND TECHNOLOGY HUB AT HERE EAST 12 SEPTEMBER 2017 Here East is today announcing that leading bookmakers Ladbrokes Coral has chosen the campus as the home for LC2, their new 26,336 square foot technology and innovation hub. THE DELANCEY BRITISH NATIONAL ALPINE SKI CHAMPIONSHIPS RETURN TO TIGNES IN 2018 14 AUGUST 2017 The Delancey British National Alpine Ski Championships will return to the French ski resort of Tignes next year, with the Senior and Children’s Championships running from Sunday 25th March to Frid... MATCHESFASHION.COM TO OPEN STATE-OF-THE-ART DESIGN STUDIOS AT HERE EAST 14 AUGUST 2017 Here East has today announced that MATCHESFASHION.COM will open a photography and video production capacity with a new state-of-the-art 22,000 sq. ft. studio. FORD TO OPEN SMART MOBILITY INNOVATION OFFICE AT HERE EAST 12 JUNE 2017 Here East has today announced that Ford will open a dedicated Ford Smart Mobility Innovation Office in London focusing on future mobility solutions for Europe and that Plexal, Europe’s largest tec... GET LIVING SECURES CONSENT FOR ENHANCED EAST VILLAGE DESIGN 30 MAY 2017 Get Living, the award-winning private rental operator, today announced that it has secured approval from the London Legacy Development Corporation (LLDC) for enhanced proposals for Plot N06, one of ... MAJOR UK LANDLORD SCRAPS RENTAL DEPOSITS 24 MAY 2017 Get Living to abolish deposit-taking and return security deposits to its 3,000 residents. Pioneer of UK ‘Build to Rent’ takes latest step to remove burden on UK renters. LAND SECURITIES AND DELANCEY EXIT THE METRO SHOPPING FUND 20 APRIL 2017 Land Securities and Delancey have exited The Metro Shopping Fund following completion of the sale of the 50% stake in Southside Shopping Centre currently held by DV4, clients of Delancey, to Invesco R... GET LIVING LONDON WINS ‘CUSTOMER SERVICE AWARD’ AT INAUGURAL RENT AWARDS APRIL 2017 Get Living London has been commended for its pioneering approach to customer service at the inaugural Rent Awards, which celebrates the professional excellence and achievements in the UK’s Private R... DELANCEY AND SANDAIRE LAUNCH MOUNT KENDAL - A BRAND NEW BUSINESS WITH A COLLABORATIVE APPROACH TO REAL ESTATE ADVISORY SERVICES APRIL 2017 Mount Kendal, a brand new specialist real estate investment advisor, launches today 27 January 2017, as a collaboration between international family investment office Sandaire and specialist real esta... R&F PROPERTIES SET TO ENTER UK MARKET WITH THE ACQUISITION OF THE 5.5 ACRE QUEEN’S SQUARE SITE, CROYDON APRIL 2017 Chinese leading comprehensive property developer R&F Properties can announce it has exchanged contracts with Minerva for its first investment into the UK market, the 5.5 acre freehold Queen’s Sq... GET LIVING TO LAUNCH ITS FIRST SITE OUTSIDE LONDON, WITH GET LIVING GLASGOW 03 MARCH 2017 Get Living, the UK’s leading large scale residential investor and owner operator of the former Athletes’ Village of the 2012 Games, has concluded the purchase of a 7.5-acre site in the heart of Gl... GET LIVING APPOINTS RICK DE BLABY TO GROW ITS PLATFORM 02 FEBRUARY 2017 Get Living Group, the UK’s leading large scale residential investment company, backed by clients of Delancey, Qatari Diar and APG, has appointed Rick de Blaby as Executive Vice Chairman. SIGNAL NOISE QUITS SHOREDITCH FOR HERE EAST NOVEMBER 2016 Data design agency first to relocate from Tech City to London’s Home for Making on Queen Elizabeth Olympic Park FORGET GOLD – HERE EAST SCORES PLATINUM FOR BRINGING WORLD CLASS CONNECTIVITY TO QUEEN ELIZABETH OLYMPIC PARK NOVEMBER 2016 Here East, London’s home for making, located on Queen Elizabeth Olympic Park, has been awarded the highest digital connectivity rating for Development and Redevelopment from WiredScore, as part of... HERE EAST TO UNVEIL MAJOR PUBLIC ARTWORK BY GAVIN TURK: ‘L’AGE D’OR’ OCTOBER 2016 Here East, London’s home for making based on Queen Elizabeth Olympic Park, will unveil a new public artwork by leading British artist Gavin Turk. Disembodied from any room, structure or building, ... EAST VILLAGE WINS PRESTIGIOUS ‘DEVELOPMENT OF THE DECADE’ AWARD AT RESI CONFERENCE SEPTEMBER 2016 14th September 2016, London: Last night, East Village, formerly the Athletes’ Village during the London 2012 Games, won the Development of the Decade Award at the RESI conference 2016. DELANCEY AND ENTIQ LAUNCH EUROPE’S LARGEST TECHNOLOGY INNOVATION CENTRE AT HERE EAST JULY 2016 Queen Elizabeth Olympic Park to become the home of innovation with 68,000-sq./ft. of space set to open in January 2017. ROYAL MINT COURT SECURES PLANNING CONSENT FOR 600,000 SQ. FT. COMMERCIAL SCHEME July 2016 Approved plans will transform the historic 5.2 acre central London site into a campus of up to five buildings, providing modern flexible office accommodation. NEW RETAIL DESTINATION UNVEILED AS FIRST WAVE OF INDEPENDENT RETAILERS SIGN UP FOR HERE EAST’S CANALSIDE MAY 2016 Here East today unveiled a new retail destination, Canalside, and announced the first wave of independent retailers set to open there. Here East is the unique campus for creative and digital industri... MERGER OF QATARI DIAR, APG & DELANCEY FUND ASSETS CREATES PARTNERSHIP TO LEAD LONDON & UK RESIDENTIAL MARKET 4 APRIL 2016 A new force has emerged in the UK’s large scale, institutionally-backed, residential investment sector, with the £1.4 billion merger of entities owning East Village, London E20, and the first phase... EAST VILLAGE E20 HOSTS FIRST EVER CHOCOLATE FESTIVAL 19 MARCH 2016 Head to East Village E20 this March for an Easter pop-up experience with a difference as the neighbourhood hosts its first ever East Village E20 Chocolate Festival, with FREE entry. SOUTHSIDE SHOPPING CENTRE WELCOMES SIX NEW BRANDS FEBRUARY 2016 Metro Shopping Fund, the retail joint venture between Land Securities and clients advised by Delancey, has secured Pret a Manger and Byron as the South West London centre gains even greater prominence... TfL SELECTS 13 PROPERTY PARTNERS, INCLUDING CLIENTS ADVISED BY DELANCEY, TO HELP IT DELIVER THOUSANDS OF HOMES FOR LONDON 03 February 2016 Transport for London (TfL) has approved the appointment of 13 major property development companies and consortiums to a development framework which will help the delivery of the thousands of homes, of... ‘SPIRIT OF CHRISTMAS’ BUSY WRAPPING PRESENTS FOR CHILDREN TO WAKE UP TO THIS CHRISTMAS 22 DECEMBER 2015 Orchard Brae House in Edinburgh is alive with festive activity this season. EAST VILLAGE’S FIRST EVER FESTIVE CRAFT MARKET WILL ‘MAKE’ YOUR CHRISTMAS 10 NOVEMBER 2015 Head to East Village E20 this December for a festive pop-up shopping experience with a difference as the neighbourhood hosts its first ever Christmas Makers Market at East Village E20. EAST VILLAGE BAKERY LAUNCHES SCRUM-TIOUS ‘BREAKFAST OF CHAMPIONS’ AS RUGBY FEVER ARRIVES IN E20 28 SEPTEMBER 2015 To celebrate the arrival of the Rugby World Cup at the Stadium at Queen Elizabeth Olympic Park, East Village bakery and pasticceria, Signorelli, has teamed up with elite rugby nutritionist Matt Love... THE DELANCEY UK SCHOOLS’ CHESS CHALLENGE COMES TO A CLOSE 2015 OCTOBER 2015 Matthew Wadsworth, on his first appearance in the Delancey Chess Challenge since 2011, registered an emphatic win in the Terafinal held at Loughborough Grammar School on 15th and 16th August. EAST VILLAGE AND SPORTSAID PARTNER TO SUPPORT THE NEXT GENERATION OF BRITISH OLYMPIANS AND PARALYMPIANS 02 OCTOBER 2015 2 October 2015: Today, East Village, the former Athletes’ Village, announced a partnership with SportsAid, a charity dedicated to supporting the next generation of British sports stars. The collabor... db symmetry, THE NEW UK INDUSTRIAL AND LOGISTICS DEVELOPMENT JOINT VENTURE FORMED BY BARWOOD AND DELANCEY, ACQUIRES ‘THE HUB’ SITE AT SWINDON 9 SEPTEMBER 2015 db symmetry, the logistics property development platform recently formed following the purchase of a 60% holding in Barwood Development Limited by clients advised by Delancey; a specialist real esta... BRITISH WORKERS WILL SPEND 1 YEAR 35 DAYS COMMUTING 191,760 MILES IN THEIR LIFETIME 2 SEPTEMBER 2015 It may not be the statistic you want to hear while stuck in traffic on the way to work, or struggling to keep cool in a forest of arms on the tube but new research from Get Living London has discove... EAST VILLAGE HOSTS TENNIS-THEMED SUMMER FAIR ON SUNDAY 12 JULY 26 JUNE 2015 On Sunday 12 July 2015, the former London 2012 Athletes’ Village will host its East Village E20 Fair, a tennis-themed summer fair and the second of its summer events in the thriving new neighbourh... ELEPHANT & CASTLE TOWN CENTRE 24 JUNE 2015 Delancey’s client fund DV4 and Europe’s largest pension fund asset manager, APG, have announced their intention to form a strategic partnership with University of the Arts London (UAL) to provid... ‘MAKING REVOLUTION’ GENERATES UP TO £18BN AND 298,000 JOBS FOR UK ECONOMY 16 JUNE 2015 Making activities estimated to generate between £15.6 and £18.1 billion in Gross Value Added (GVA) for the UK economy in 2015. DELANCEY CELEBRATES TOPPING OUT AT ELEPHANT ROAD SITE 8 JUNE 2015 TODAY Delancey marked the topping out of construction at the Elephant Road site, the first phase in its regeneration of Elephant and Castle town centre. GET LIVING LONDON NAMED ‘LANDLORD OF THE YEAR’ AT RESI AWARDS 15 MAY 2015 The residential owner and management company behind the former Athletes’ Village celebrates two year anniversary with a RESI Award. EAST VILLAGE COOKS UP A STORM WITH THE LAUNCH OF SHAREEAST SUPPER CLUBS 13 MAY 2015 Series of supper clubs at the former London 2012 Athletes’ Village adds to neighbourhood’s burgeoning foodie scene. MINERVA SELLS THE WALBROOK BUILDING TO CATHAY LIFE 12 MAY 2015 Minerva, the real estate investment and development group jointly owned by funds managed by Ares Management (NYSE:ARES) and Delancey, today announced the sale of The Walbrook Building, a prime City of... JOINT VENTURE AT ROYAL MINT COURT 1 APRIL 2015 Delancey is pleased to confirm that its client DV4 has formed a joint venture with the LRC Group of companies in respect of Royal Mint Court, a 5.5 acre office campus situated on the eastern fringe of... SPRING FORWARD AND GET MARATHON READY AT FORMER LONDON 2012 ATHLETES’ VILLAGE 10 MARCH 2015 Take full advantage of the extra hour of daylight and discover outdoor living at East Village, London’s newest neighbourhood. WAYNE MCGREGOR TO OPEN WORLD-CLASS ARTS SPACE AT HERE EAST ON QUEEN ELIZABETH OLYMPIC PARK 25 FEBRUARY 2015 Here East has today announced that renowned international choreographer Wayne McGregor will be opening ‘Studio Wayne McGregor’ at Here East. FORMER LONDON 2012 ATHLETES’ VILLAGE WELCOMES PUBLIC FOR ART TOURS 19 FEBRUARY 2015 For one day only East London artists to give talks within East Village foyers. HERE EAST ENLISTS THE HELP OF ROBOTS AND DRONES TO LAUNCH ITS MARKETING DRIVE TO THE TECH AND CREATIVE COMMUNITIES 19 JANUARY 2015 Here East, London’s home for making based at the former Press and Broadcast Centres on Queen Elizabeth Olympic Park, today launches a short promotional film to demonstrate its vision and reveal the ... FOUR NEW LETTINGS SECURED AT ORCHARD BRAE HOUSE 13 JANUARY 2015 Delancey has secured a further four new lettings at the newly refurbished Orchard Brae House on Queensferry Road. GOAL! EAST VILLAGE SCORES ITS OWN FOOTBALL ACADEMY 29 OCTOBER 2014 E20 Football Academy staged its first tournament this weekend for residents and the local community. HERE EAST ANNOUNCES START DATE FOR CONSTRUCTION OF A CREATIVE AND DIGITAL CLUSTER ON QUEEN ELIZABETH OLYMPIC PARK 12 SEPTEMBER 2014 Here East, London’s home for making and the company selected by the London Legacy Development Corporation to transform the former Press and Broadcast Centres on Queen Elizabeth Olympic Park into a w... EAST VILLAGE GOES 3D TO CELEBRATE OLYMPIC ANNIVERSARY 17 JULY 2014 Former London 2012 Athletes’ Village collaborates with acclaimed street artists 3D Joe & Max to create London 2012 inspired artwork. GET LIVING LONDON WELCOMES 500TH RESIDENT TO FORMER ATHLETES’ VILLAGE 19 JUNE 2014 Since handover in November 2013, east London’s newest neighbourhood, East Village E20 has begun to flourish into a thriving community. HERE EAST AND LONDON LEGACY DEVELOPMENT CORPORATION COMPLETE LEASE FOR CREATIVE AND DIGITAL CLUSTER ON QUEEN ELIZABETH OLYMPIC PARK 14 MAY 2014 Here East and the London Legacy Development Corporation (LLDC) have today completed the lease agreement to develop a world-leading creative and digital cluster at the heart of Queen Elizabeth Olympic... JAMIE RITBLAT, FOUNDER AND CEO OF DELANCEY, NAMED ‘PERSONALITY OF THE YEAR’ AT THE RESI AWARDS 2014 15 APRIL 2014 Jamie Ritblat, founder and CEO of Delancey, named ‘Personality of the Year’ at the RESI Awards 2014, as Get Living London wins ‘Newcomer of the Year’ and East Village wins ‘Development of th... iCITY PLANS APPROVED AS OLYMPIC LEGACY MOVES ONE STEP CLOSER TO REALITY 26TH FEBUARY 2014 iCITY, the company selected by the London Legacy Development Corporation (LLDC) to transform the former Press and Broadcast Centres on Queen Elizabeth Olympic Park into a world-leading creative and di... MINERVA SELLS RAM BREWERY DEVELOPMENT IN WANDSWORTH, LONDON SUCCESSFULLY TO CHINA’S 7 JANUARY 2014 Minerva, the property investment and development group acquired by clients of Ares Management LLC and Delancey in 2011, has exchanged contracts to sell its Ram Brewery development site in Wandsworth,... MINERVA SELLS ST BOTOLPH BUILDING IN £464 MILLION TRANSACTION 27 NOVEMBER 2013 Minerva, the property investment and development group acquired by clients of Ares Management LLC and Delancey in 2011, has sold its long leasehold interest in the St Botolph Building, London EC3, for... WAYNE AND GERARDINE HEMINGWAY TEAM UP WITH GET LIVING LONDON TO BRING THE ‘BEST OF BRITISH’ DESIGN TO EAST VILLAGE 25 JULY 2013 Award winning designers to lead interior design of private rented homes at East Village. GET LIVING LONDON LAUNCHES AND GETS READY TO TRANSFORM THE WAY LONDONERS RENT 15 MAY 2013 No Fees, No ‘Middleman’, Superior Service & Homes in East Village, London’s Newest Neighbourhood. WANDSWORTH TO GET FIRST DEPARTMENT STORE AS DEBENHAMS SIGNS TO ANCHOR £40M SOUTHSIDE REDEVELOPMENT 25 OCTOBER 2012 Metro Shopping Fund, the Land Securities and Delancey retail joint venture, can confirm today that Debenhams has signed to anchor the £40m phase of redevelopment at its Southside Shopping Centre in ... EAST VILLAGE LAUNCHED AS THE NEW, LEGACY IDENTITY FOR THE ATHLETES’ VILLAGE 6 DECEMBER 2011 London’s new neighbourhood that breaks the mould for UK residential developments and directly responds to the capital’s critical need for new housing.