Tag Archives: Menkiti Group

Early Childhood Academy Public Charter School Breaks Ground

MAYOR BOWSER, THE MENKITI GROUP, COMMUNITY LEADERS, PARENTS, AND STUDENTS CELEBRATE THE GROUNDBREAKING OF THE EARLY CHILDHOOD ACADEMY PUBLIC CHARTER SCHOOL

New Southeast school will provide a state-of-the-art, holistic learning environment for 300 young students

October 4, 2018, WASHINGTON, DC – Yesterday Mayor Muriel Bowser joined The Menkiti Group and Early Childhood Academy Public Charter School to mark the ceremonial groundbreaking for the new 38,000 square foot state-of-the-art school building, slated to open in August 2019.

The new Early Childhood Academy (ECA) school building is located at 885 Barnaby Street, SE, and consists of a repurposed former church with a new, modern addition to bring the school’s learning, activity, music, administrative, and multi-purposes spaces all under one roof. The school currently operates from two disparate, non-school use centers on adjacent properties.

The project, which is being financed through a combination of ECA PCS funds, grant funding from the Office of the State Superintendent, DC Government facilities allotments, and federal New Markets Tax Credits, marks a milestone for new development in the Washington Highlands neighborhood. The deal was structured as a unique lease-to-own arrangement in which ECA PCS has acquired the site from The Menkiti Group to build equity for the future.

Mayor Muriel Bowser addressed the crowd of attendees from ECA, including members of the Board of Trustees, school administration, teachers, aides, students, parents, project stakeholders and partners, and members of the Washington Heights neighborhood by talking about the impact the new ECA will have on the community, stating “This is going to be the learning space and play space that the students, families, and staff at ECA deserve,” said Mayor Muriel Bowser. “When we invest in our school facilities, we’re investing in the future of our students and communities.”

In addition to Mayor Bowser, speakers included, Ward 8 Councilmember Trayon White, Sr., Wendy Edwards, Executive Director of ECA, Dennis Sawyers, President of the Board for ECA, Thann Ingraham, Principal for ECA, and Mark Rengel, Menkiti Group VP of Development and Project Manager for the ECA project.

At the groundbreaking Menkiti Group Founder and CEO Bo Menkiti also addressed the crowd, offering his reflections on the project, stating: “The Menkiti Group is proud to have this opportunity to develop and deliver not just another transformative development project to the Washington, DC community, but one that truly exemplifies our mission of transforming lives, careers, and communities through real estate. We are particularly pleased that the new Early Childhood Academy will allow young students the opportunity to have a safe, holistic learning environment as soon as the doors open next year, and for many generations in this neighborhood to come.”

ECA Executive Director Wendy Edwards, who has been with ECA since 2005, the first year that the school was in operation, shared her thoughts on the milestone occasion: “After 14 years housed in two small community centers, we are thrilled that our students at Early Childhood Academy Public Charter School will start the 2019-2020 school year in the beautiful and spacious, brand new facility that they deserve.”

Many local organizations, financial institutions, and government leaders played a role in developing this project. Partners in the project include: DC Office of the State Superintendent of Education; Low Income Investment Fund; City First Bank; City First Enterprises; Chase Bank; United Bank; Industrial Bank; Cohn Reznick LLP; TenSquare; Cox Graae + Spack Architects; Meridian Construction; Built Environment Engineers; M.A. Design Group; Robert Silman Associates; DMY Capitol; A2 Services; Dan Triman, LEED AP+; CDKM Consulting; McKeever Services; New Columbia Solar, and DC SEU. Project progress is available at MenkitGroup.com/development.

The Menkiti Group Named One of the Nation’s Fastest-Growing Inner City Businesses

Washington, DC, October 3, 2018- The Initiative for a Competitive Inner City (ICIC) announced that The Menkiti Group has made the 2018 Inner City 100 list of the fastest-growing inner city businesses in America, based on revenue growth. ICIC, a 25-year-old national nonprofit founded by Harvard Business School professor Michael E. Porter, promotes economic prosperity in America’s inner cities through private sector investment that leads to jobs, income and wealth creation for local residents.

The list was revealed at the 20th Annual Inner City 100 Conference and Awards in Boston October 1-2.  The full list is available on Fortune’s website. The Menkiti Group, led by CEO Bo Menkiti was ranked #93 based on its growth rate from 2013 to 2017 of 68.26% and 2017 revenue of $17,515,873.

2018 marked the 5th appearance on the prestigious list for The Menkiti Group, placing the company into the ICIC fastest-growing companies Hall of Fame. Keller Williams Capital Properties was also ranked for a record 5th appearance, this year at #92, which places the company into the Hall of Fame as well.

Said ICIC CEO Steve Grossman, “Inner City 100 companies are forces of economic opportunity, optimism and transformation in their communities. They lead the way in innovation, job creation and economic revitalization and it’s an honor to shine the spotlight on their leadership and accomplishments. In addition to excellence in business, these pioneering entrepreneurs have demonstrated a deep commitment to and passion for their communities, which significantly impact the wellbeing of their local economies”.

Now celebrating its 20th year, ICIC’s Inner City 100 list has long celebrated urban entrepreneurship. Since its inception, ICIC’s list has recognized 975 companies, which have seen average growth rates of more than 400 percent during a five-year period and have collectively created more than 126,000 meaningful jobs in America’s distressed and underserved communities and neighborhoods.  The Inner City 100 program opens doors for other budding urban entrepreneurs and stimulates inner city business development and job creation through recognition, networking and learning.

“These businesses and their owners are a testament to the impact innovation and entrepreneurship have had in rejuvenating urban areas across the U.S. Companies such as (COMPANY NAME) are experiencing revenue growth and increased investment, which are in turn creating more jobs and economic opportunity for citizens in the communities where these companies call home” said ICIC President and COO, Matt Camp.

2018 Inner City 100 by the numbers:

  • Average growth rate of 436 percent between 2013 and 2017
  • Represent 46 cities in 23 states
  • Employed 10,085 individuals in 2017
  • Created 5,516 new jobs in the last five years
  • On average, 36 percent of employees live in same neighborhood as the company.
  • Average company age is 15 years
  • Average 2016 revenue is $14.8 million
  • 31 percent are women-led
  • 38 percent are minority-led
  • Represent 26 industries

CEOs from the winning companies were invited to the Inner City 100 Conference and Awards, two days of robust networking opportunities and educational sessions led by Fortune 500 executives and academics from top-tier universities, including Harvard Business School. Past winners have reported connecting with multi-million dollar investors as a result of appearing on the Inner City 100 list and attending the Conference.

Initiative for a Competitive Inner City (ICIC)

ICIC is a national nonprofit founded by Harvard Business School professor Michael E. Porter. ICIC’s mission is to promote economic prosperity in America’s inner cities through private sector investment that leads to jobs, income and wealth creation for local residents. Through its research on inner city economies, ICIC provides businesses, governments and investors with the most comprehensive and actionable information in the field about urban market opportunities. The organization supports urban businesses through the Inner City 100, Inner City Capital Connections, Goldman Sachs 10,000 Small Businesses program, and Santander Bank’s Cultivate Small Business program. Learn more at www.icic.org or @icicorg.

Capitol Vista Breaks Ground

As reported by the Executive Office of the Mayor on Tuesday, September 25, 2018:

“Today, Mayor Bowser broke ground on Capitol Vista, a 104-unit affordable housing community in the amenity-rich Mount Vernon Triangle neighborhood in Ward 6. This groundbreaking follows recent affordable housing announcements by Mayor Bowser in the Mount Vernon Triangle neighborhood, which include the grand opening of Plaza West, a 223-unit affordable housing community for seniors, families, and “grandfamilies,” and a groundbreaking on Liberty Place, an affordable housing project which will deliver permanent supportive housing units for those experiencing homelessness and units for veterans.

“As our city continues to grow and prosper, my Administration has remained laser-focused on ensuring residents of all backgrounds and income levels have access to safe and affordable places to live across all eight wards,” said Mayor Bowser. “Capitol Vista is an example of how we are meeting the diverse housing needs of Washingtonians and creating pathways to the middle class at the same time.”

Located at 810 New Jersey Avenue, NW, Capitol Vista will be comprised of 104 studio-, one-, and two-bedroom units for households earning up to 50 percent of the median family income (MFI) or $58,600 for a family of four. Capitol Vista will be a 100 percent affordable community with 3,000 square feet of ground floor retail and space for public art.

Capitol Vista is located in a transit-oriented, growing neighborhood within walking distance of four Metro stations and bus routes. It is also close to a grocery store, multiple places of worship, a library, recreation and restaurants, as well as downtown, employment centers and jobs.

Amenities for residents include a fitness center, conference room, clubroom, roof terrace, and bicycle parking.

The Capitol Vista affordable housing community was made possible through a collaboration of DC Government agencies, including the Office of the Deputy Mayor for Planning and Economic Development, the DC Department of Housing and Community Development, the DC Housing Finance Agency, and DC Housing Authority. Voltron Community Partners comprised of Dantes Partners LLC, Spectrum Management LLC, The Menkiti Group and Bailey Real Estate Holdings, will develop the project.

Mayor Bowser has designated September 24 through October 1 as #RootstoRoofs Housing Week across DC. The Capitol Vista groundbreaking is one several events highlighting the Bowser Administration’s progress in providing all Washingtonians a fair shot by creating and preserving affordable housing. Since coming into office, the Bowser Administration has delivered 6,000 affordable units, with another 5,200 under construction.

At the event, the Mayor was joined by Deputy Mayor for Planning and Economic Development Brian Kenner and Ward 6 Councilmember Charles Allen.”

Executive Office of the Mayor Newsroom

Learn more about Capitol Vista by visiting the project page.

Early Childhood Academy profiled in Commercial Observer

As reported by Christina Sturdivant-Sani of Commercial Observer on September 13, 2018:
“The Real Estate Struggle Is Real for DC Charter Schools”

“We’re incredibly excited to be able to bring a new building to this charter school serving very low-income students—it’s heavily aligned with our mission of transforming neighborhoods,” said Brian Burke, Executive Vice President at The Menkiti Group.

See the full Commercial Observer story here.

See our project page on the Early Childhood Academy PCS for more detail.

MG COMMERCIAL SIGNS CALABASH TEA & TONIC IN BROOKLAND

THE MENKITI GROUP’S COMMERCIAL TEAM SIGNS CALABASH TEA & TONIC TO 2701 12TH STREET NE
Award-winning teahouse prepares to open second DC location with large outdoor patio.

WASHINGTON, D.C., February 9, 2018 — The Menkiti Group’s commercial division, MG Commercial announces the recent signing of Calabash Tea & Tonic, an award-winning teahouse based in Washington, DC, to its property at 2701 12th Street, NE, in the heart of the Brookland neighborhood.  The 900 square foot location will be the second for Calabash and will feature a large outdoor patio with medicinal plants and culinary herbs and is slated to open later this spring.

Proposed streetscape and outdoor patio for Calabash’s Brookland location.

The first Calabash location in Shaw has been voted “Best Tea” five years in a row by the Washington City Paper, and the Brookland location will feature over 50 organic tea blends based on founder Dr. Sunyatta Amen’s Cuban-Jamaican great-grandmother’s time-tested formulas. The teahouse will also serve direct trade pour-over coffees, vegetarian food selections, and will host community meetups and wellness-focused events.

“We are very pleased to include Calabash Tea & Tonic as one of our neighborhood-serving retail tenants in a space that is very special to us and to the Brookland community,” said Bo Menkiti, CEO and Founder of The Menkiti Group.

Existing 2701 12th St NE location. owned by The Menkiti Group.

The high-visibility site (left) once housed Menkiti headquarters and is ideally suited for activation with retail and community engagement offerings. The same block includes MG Commercial tenant Italian deli Salumeria 2703 (2703 12th St. NE). Rob Foa represented MG Commercial in the transaction.

This location will also allow Calabash to expand its rapidly growing wholesale business, which currently serves Shop Made In DC, Baked & Wired, WeWork D.C., Cove, and Culture Coffee businesses in the area, among others. The new jobs created in Brookland will allow Calabash to continue its commitment to hiring single mothers, veterans and returning citizens.

“This concept is just what the neighborhood needs, and we recognize the deeper impact that Calabash can make with hiring from the community, and be supporting ongoing engagement and activity there, too. We strongly support any businesses that operate from a similar perspective,” said Menkiti.

Amen, a fifth-generation master herbalist and naturopathic physician, says, “We have this incredibly dynamic and diverse community of staff and guests at our Shaw location and we’re excited to expand to my neighborhood of Brookland. Because of its creativity, history, and vibrancy, Northeast DC is the perfect place for our next home. We look forward to contributing to the commercial invigoration of the 12th Street strip.”

For information on MG Commercial leasing opportunities, contact Rob Foa. To learn more about The Menkiti Group, visit MenkitiGroup.com and follow on LinkedIn, Facebook, and Instagram.

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