Latest news with #Arlington-based
Business Journals
23-06-2025
- Business
- Business Journals
Agora Data touts first rated auto loan securitization
The Arlington-based fintech firm just took a major step into the public capital markets with its first rated securitization. Agora Data's president says the company "is revolutionizing consumer finance by seamlessly integrating fintech innovation with traditional banking."
Yahoo
12-06-2025
- Business
- Yahoo
AvalonBay sued for alleged housing discrimination at Washington, DC, property
This story was originally published on Multifamily Dive. To receive daily news and insights, subscribe to our free daily Multifamily Dive newsletter. The Equal Rights Center, a Washington, D.C.-based civil rights organization, has filed a lawsuit against Arlington, Virginia-based housing REIT AvalonBay Communities, alleging that the housing REIT discriminated against tenants with housing vouchers and falsely advertised bedroom counts at its AVA NoMa property. The entities named as defendants in the complaint, filed on June 3 in the Superior Court of the District of Columbia, include AvalonBay and its ownership subsidiary for AVA NoMa, Arlington-based Archstone North Capitol Hill 2 LP. AVA NoMa, located in the NoMa neighborhood in Washington, is a 438-unit apartment building that advertises 101 studio, 184 one-bedroom, 96 two-bedroom and 57 three-bedroom units, according to the lawsuit. However, in 47% of the one-bedroom units, 50% of the two-bedrooms and 100% of the three-bedrooms, at least one of the advertised sleeping areas lacks a window, according to the complaint. Under the D.C. Housing Code Standards, a room cannot legally be considered a bedroom unless it has a window or frosted glass that lets in a certain amount of natural light scaled to the size of the room, according to court documents. 'D.C.'s housing code requires windows in bedrooms as a matter of basic health and safety,' said Kate Scott, executive director of the ERC, in a news release. 'The complaint alleges that AVA NoMa skirted this basic requirement, and played fast and loose with its tenants' well-being.' Renters that don't use housing vouchers would not encounter any trouble leasing these units because of their bedroom windows. However, in order for a potential renter with a housing voucher to lease a unit in Washington, the unit must pass an inspection from the District of Columbia Housing Authority. An apartment advertised as a two-bedroom unit with windows in only one of its designated bedrooms would only pass DCHA inspection as a one-bedroom unit, according to the complaint. At that point, the DCHA would consider the rent charged — scaled for a two-bedroom unit — excessive for a one-bedroom, and the voucher holder would not be approved to rent the apartment. In the course of the ERC's investigation, which stemmed from complaints from its clients about not being able to rent at AVA NoMa, the organization found that the property's management may have known about the issue with voucher holders as early as 2020, according to the ERC. When ERC testers called the property to ask about renting with a voucher, the leasing agent told them directly that while vouchers were accepted, they would not be approved for many of the building's units, according to court documents. The plaintiff alleges that AvalonBay violated the District's consumer protection and anti-discrimination laws by falsely advertising its legal bedroom counts and preventing voucher holders from being approved for leases. It also states that voucher holders are actively encouraged not to apply to the property. AvalonBay Communities did not respond to a request for comment from Multifamily Dive. The ERC is asking for a judgment stating that the defendants violated these laws, an injunction requiring them to immediately correct their advertising and any other judgments as the court sees fit, according to the lawsuit. Sign in to access your portfolio
Business Upturn
15-05-2025
- Business
- Business Upturn
Summit Ridge Energy to Deliver Energy Savings to Virginians with New 4.1MW Solar Installation
Elkton, VA, May 15, 2025 (GLOBE NEWSWIRE) — Summit Ridge Energy (SRE), Virginia's leading solar developer, announced the energization of its Scenic Farms Shared Solar Project, a 4.1-megawatt solar installation located in Rockingham County, VA. The project is part of the Commonwealth's expanded Shared Solar program, which provides Dominion Energy Virginia customers with broader access to solar energy bill credits—without requiring them to install panels on their own homes. State officials, including Deputy Secretary of Commerce & Trade Maggie Beal and House of Delegates Majority Leader Charniele Herring, joined Summit Ridge leadership, key investors, and community partners to mark the official opening of the site. The Scenic Farms Solar Facility is part of a portfolio of 25 projects that make up Summit Ridge's 100 MW footprint in Virginia—positioning the company as the largest developer in Virginia and expanding access to locally generated energy. The Arlington-based company is now the owner and operator of nearly half of all capacity in the Virginia Shared Solar Program. 'The Summit Ridge team is proud to call Virginia home, and even prouder to play a role in meeting the Commonwealth's growing energy needs. As Virginia has expanded its Shared Solar policy, we've had the opportunity to scale our efforts in tandem—now owning and operating 100 MW of projects across the state,' said Steve Raeder, Chief Executive Officer at Summit Ridge. 'We're committed to supplying locally generated power to Virginians while continuing our investment in the state.' The construction and operation of this project and others in development represent Summit Ridge's $250 million investment in Virginia—providing more than 1,000 jobs for construction workers, vendors, and local businesses. That investment is supported by Summit Ridge's joint venture with Osaka Gas USA Corporation, with construction financing led by MUFG, a leading global financial group. 'It means a lot to know that this land is continuing to support our community—not only by producing food, but also by generating local energy,' said Leroy Heatwole of Scenic L Farms, the landowner where the solar facility is located. 'We're proud to still be raising poultry and growing wheat here, while also supporting the local education system and contributing to energy savings and economic growth. It's an honor to be part of something that gives back and builds a legacy for my children and grandchildren.' Once operational, the Scenic Farms site alone is expected to generate over 6.5 million kWh annually, delivering meaningful energy savings to over 600 local subscribers. Summit Ridge's fleet of assets will reduce energy costs for nearly 16,000 Virginia households once energized. This significant development underscores Summit Ridge's commitment to improving grid stability, boosting local economies, and providing tax benefits to the community. The Scenic Farms development reflects a growing interest in shared solar across the region, as consumers, policymakers, and businesses seek locally generated energy that expands America's Energy Independence and long-term grid resilience. Residential customers located within Dominion Energy service territory will be able to subscribe and benefit from this project with bill credits beginning in the summer of 2025. Virginia residents interested in enrolling in the state's Shared Solar Program can get more information about subscribing by reaching out to Summit Ridge's partner, Perch Energy, which recently merged with Arcadia's community solar business. About Summit Ridge Energy As the nation's leading commercial solar company, Summit Ridge Energy merges financial innovation and industry-leading execution to deliver locally generated energy via a more resilient and secure electric grid. This has made Summit Ridge one of the fastest-growing energy companies in America, with over 2 GW of solar power operating and in development. Since launching in 2017, Summit Ridge has raised over $5B in project capital to finance 200+ solar farms, providing energy savings to more than 42,000 homes and businesses while contributing to American energy independence. Learn more at and connect with us on LinkedIn. Attachments Scenic Farms Solar Facility Ribbon Cutting Ceremony at Scenic Farms Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Yahoo
15-05-2025
- Business
- Yahoo
MSNBC Makes Key Political Hire as It Builds a New D.C. Bureau
As it prepares for its future spun off from Comcast, the new leaders of MSNBC have made a key hire to build up its political reporting infrastructure. Sudeep Reddy was enlisted away from Politico to join the cable news TV brand as it establishes its own presence in Washington, D.C. apart from NBC News and creates its own beltway bureau. Reddy, who led 150 journalists as senior managing editor at the Arlington-based trade publication during an eight-year tenure, will start at MSNBC on June 16. More from The Hollywood Reporter Stephanie Ruhle Sets MSNBC Primetime Special With Laid-Off Federal Workers (Exclusive) At WHCD Weekend, Glam With a (Small) Dash of Dystopia White House Correspondents' Dinner Focuses on Awards, Journalism as Trump Snubs Comic-Free Soirée He'll report to Scott Matthews, the svp of newsgathering who just joined the channel's leadership from WABC-TV in March. 'Sudeep's appointment signals the importance of original and enterprise reporting for the future of MSNBC,' Matthews wrote in a memo to staff. 'He will lead our Washington team to focus not just on the happenings inside Washington but also on how decisions in the capital will impact people across the nation and around the world.' The work to build up its own political reporting muscle is ahead of Comcast's separation of its cable TV business into a nondescriptly named firm called Versant that will include MSNBC, CNBC, USA Network, Oxygen, E!, Syfy and the Golf Channel. Versant, which will be run by NBCU exec Mark Lazarus, says its brands reach 70 million homes and generate $7 billion in revenue annually. The close date for that deal is expected later this year. NBC News, and its newsgathering resources along with franchises like the Today show, are staying put at Comcast. And several key reporting talents are being divided up between NBC News and Versant's MSNBC and CNBC, among them Steve Kornacki, who inked a deal to exit MSNBC to stay put among the Comcast stable. So MSNBC has been making notable hires — Matthews is looking to hire for an estimated 100 roles — to fill the void in reporting areas that had been occupied by NBC News resources. Reddy will oversee coverage of Capitol Hill, the White House, the State Department, Justice Department and Supreme Court as the exec looks to build the MSNBC D.C. bureau. As the line between cable television blurs with longform video podcasting, MSNBC has also been hiring from a new competitive set, including bringing on former NBC News alum and recent Crooked Media GM Madeleine Haeringer to oversee its podcast and audio offerings. New products, amid a rapidly shifting linear-to-digital landscape and evolving media ecosystem, appears to be one part of the equation for MSNBC. Matthews added of Reddy in the memo to staff, 'While at Politico, he launched dozens of new products, including newsletters, podcasts, live events and digital offerings; guided strategy and operations for Politico Playbook during the first Trump administration; and built the newsroom's first audio team from the ground up.' Best of The Hollywood Reporter How the Warner Brothers Got Their Film Business Started Meet the World Builders: Hollywood's Top Physical Production Executives of 2023 Men in Blazers, Hollywood's Favorite Soccer Podcast, Aims for a Global Empire
Business Journals
01-05-2025
- Automotive
- Business Journals
Arlington launches innovation into motion with these 5 recent partnerships
As a relatively young organization, the Arlington Economic Development Corporation (EDC) seeks to strategically partner with companies that are embracing an innovative future. The Arlington EDC is actively co-investing with groups focused on advanced technology, consistent with the talented workforce coming out the University of Texas at Arlington. The American Dream City is the fourth most diverse city in the country, according to many studies — and only 10 miles away from DFW International Airport. As a transportation hub with an educated workforce, Arlington is working to propel leading-edge companies to profitability. Some recent examples of innovative companies who have partnered with the Arlington EDC and made their move to Arlington include: Sportec Solutions, a Munich-based sports technology company, has established its U.S. headquarters in Arlington. Sportec Solutions develops next-gen solutions in the fields of match data and officiating technology. They maintain a long-term agreement with Major League Soccer (MLS) as the official provider for live data and video assistant referee services. Sportec Solutions is the latest addition consistent with Sports Business Journal's selection of Arlington as the sixth best sports business city in the United States. E-Space is a startup global telecommunications and satellite manufacturer founded in 2022. They offer an advanced, sustainable low Earth orbit (LEO) space system to enable hyper-scaled deployments of space-based Internet of Things (IoT) solutions and services. The company will establish its headquarters and satellite manufacturing facility (250,000 square feet in its initial phase) at the Arlington Municipal Airport, including a 40,000-square-foot hangar, an airport access road and an aircraft parking apron. Ikon Technologies is an innovative software and hardware technology company serving the automotive industry, with products uniquely designed by auto dealers for auto dealers. This Arlington-based company recently celebrated its office expansion, growing the number of employees and extending those opportunities to UT Arlington students and graduates. Wallbox, a leading provider of electric vehicle (EV) charging and energy management solutions worldwide, opened its first North American manufacturing facility in Arlington. The factory manufactures all of the company's chargers in the U.S., which serve multiple segments of EV charging, including residential, bidirectional and hyperfast highway corridor charging. Bell and the City of Arlington have a history spanning over 55 years. Beginning in 1967, the city has played a major role in supporting the innovation of flight testing for new programs at Bell's Flight Research Center. Bell's Weapon Systems Integration lab is a new 47,000-square-foot facility, which aids in the safe, rapid and efficient integration and testing of a next generation fly-by-wire aircraft and mission systems using a modular open systems approach for the United States Army. Each of these projects has its own unique take on innovation, from military-grade aircraft testing to satellite manufacturing and everything in-between. As a No. 16 top tech city (Cloudward) and No. 12 best large city to start a business (WalletHub), Arlington's business-friendly climate is a place for companies to thrive. The Arlington EDC has the funding stream and is ready to put it to good use to continue propelling innovation into motion. Here in Arlington, there's no project too big or too small — we make ideas become reality. We Can. We Do. Why Arlington? Learn more at The Arlington Economic Development Corporation (EDC) is a nonprofit organization whose mission is to create a vibrant, globally connected and innovative community that fosters equitable growth for all. The EDC recruits business and industry, helps local companies grow and generates quality job opportunities throughout the Arlington metro area. The EDC also seeks to attract and retain community partners, businesses, and workforce members to invest and make their home in Arlington.
