- Project: The Addison
- Location: Capitol Heights, MD
- Project Status: Completed
- Project Type: New Construction
- Value: $21.7 Million
- Services Provided: Development Services
- Services Provided: Bozzuto Development; Bozzuto Construction Company
The Addison is owned by Velocity Capitol LLC. The Addison project was a fully occupied 125-unit rental property with existing tenants were relocated. The existing structure was demolished and 5 new buildings were constructed. The new condo buildings have 125 units. The construction financing provided by National City Bank. The revolver facility was valued at $19,000,000 and the mezzanine debt facility was valued at $2,700,000. The project was completed in 2010.