StoneBridge acquired the Glenwood Apartments in 2014. Located in the Eckington neighborhood of Washington, the property is within walking distance to the Rhode Island Avenue Metro as well as the constantly growing collection of restaurants and retail in the immediate area. Upon takeover, the property had numerous outstanding Washington, DC housing code violations and significant delinquency. Over the first six months of ownership, the housing violations were cured and delinquency substantially reduced.
To capitalize on the rapidly improving Bloomingdale and Eckington neighborhoods, the building is currently undergoing infrastructure upgrades including electrical heavy-up, masonry repairs, roof replacement, and addressing deferred maintenance issues throughout. Additionally, unit interiors will be upgraded upon turnover to better compete with surrounding product.