RealEstateRama Authors Posts by DCHFA
Several District Government agencies have closed a financing deal that will preserve 220 affordable housing units in the long vacant Parkway Overlook Apartments in the Ward 8 neighborhood of Congress Heights. The project—which will consist mostly of family-sized units—will also provide workforce development training to residents and energy savings through the installation of solar panels.
The DC Housing Finance Agency (DCHFA) issued financing for both a new construction project and a preservation development all on the same day. On January 11,DCHFA issued $11.1 million in bond financing to construct 1164 Bladensburg Apartments (1164 Bladensburg Road, NE).
On December 21, the District of Columbia Housing Finance Agency (DCHFA) issued $39 million in bond financing for the preservation of Wah Luck House Apartments (800 6th Street NW). The 153 unit apartment building is located in Chinatown, within blocks of Capitol One Arena. Wah Luck House is home to one the city’s largest communities of Chinese residents.
DCHFA is opening its doors on Thanksgiving Day to distribute 200 dinners to at risk, homeless families and/or individuals in need of a meal. Dinner will be served by DCHFA staff members and their families who are giving up a part of their Thanksgiving holiday to ensure that others in the community are fed.
On November 2, the District of Columbia Housing Finance Agency (DCHFA) financed its first development of Fiscal Year 2018 with the issuance of $21.5 million ($10.6 million long term, $10.9 million short term) in DCHFA tax exempt bonds to fund the construction of The Solstice (3534 East Capitol NE, Washington, D.C.) The new four story mixed-use building will bring 137 affordable apartment homes (one, two and three bedrooms), 75 parking spaces and 2,074 square feet of retail space to Ward 7’s Deanwood neighborhood. “Deanwood has emerged as a destination neighborhood and the cost of housing is rising.
On August 3, the District of Columbia Housing Finance Agency (DCHFA) will launch the Housing Investment Platform (HIP) and Single Family Investment Pilot at the site of HIP’s first project Elvans Road Townhomes (2501 Elvans Road Southeast, 10-11:00 a.m.) As a part of the Single Family Investment Pilot, DCHFA has partnered with H2DesignBuild, a Certified Business Enterprise with Small Business Enterprise points and City First Bank, to construct five new townhomes in Ward 8’s Barry Farm neighborhood.
The District of Columbia Housing Finance Agency launches the Housing Investment Platform with the...
DCHFA will launch the Housing Investment Platform (HIP) and Single Family Investment Pilot at the site of HIP’s first project Elvans Road Townhomes. DCHFA established HIP as a platform for innovative investments that will increase the Agency’s support of the D.C. housing market outside of traditional bond and tax credit financing. As a part of the Single Family Investment Pilot, DCHFA has partnered with H2DesignBuild and City First Bank of DC to construct Elvans Road Townhomes in Ward 8’s Barry Farm neighborhood in Washington, D.C.
The District of Columbia Housing Finance Agency (DCHFA) takes its multifamily financing process completely online with the launch of the new Multi-Family Lending Application. “We developed this application to make it easier for developers to do business with the Agency to increase the production of affordable housing in the District of Columbia,” stated Todd A. Lee, Executive Director of DCHFA, “This is the first in a series of innovations in affordable housing finance that the Agency will deliver over the next 12 months.
The District of Columbia Housing Finance Agency (DCHFA) is investing in affordable housing in Columbia Heights for the second time this spring with the issuance of $15,840,000 in bond financing for the rehabilitation and construction of the Maycroft Apartments (1474 Columbia Road N.W.
June is National Homeownership Month and the District of Columbia Housing Finance Agency (DCHFA) is announcing its first closing of the Home Purchase Assistance Program (HPAP). On June 12, Leonidas Saturria Rosario and Lurden Martinez de Saturria became homeowners with the assistance of the HPAP program. “We are happy and satisfied that our prayers of being homeowners have been answered. We are not priced out of the market and can afford to stay in D.C. thanks to HPAP.”
June is National Homeownership Month and the District of Columbia Housing Finance Agency is celebrating with three announcements from its Single Family Programs division as a part of the District wide June Housing Bloom. “Homeownership is the cornerstone of wealth accumulation. This month DCHFA is expanding the Agency’s homeownership resources and providing greater incentives for people to purchase a home in the District of Columbia,” stated Todd A. Lee, Executive Director, DCHFA.
On May 10th, the District of Columbia Housing Finance Agency (DCHFA) issued $10,200,000 (short and long term tax exempt obligations) in bond financing to rehabilitate and increase
The District of Columbia Housing Finance Agency (DCHFA) issues $55 million (long term tax exempt bonds) in acquisition and construction financing for Guild (1346 4th Street SE) a new apartment building with 39 of its 191 units reserved for residents earning at or below 50 percent of the area median income. The affordable units will be interspersed with the market rate units creating an income diverse community.
The DC Department of Housing and Community Development (DHCD) is pleased to announce that on March 1 the DC Housing Finance Agency (DCHFA) began operations as coadministrator of the Home Purchase Assistance Program (HPAP). DCHFA joins the Greater Washington Urban League (GWUL) as a second administrator
The project is being developed by The Michaels Development Company and CityInterests, LLC. South Capitol Multifamily is also being funded by $23.19 million raised in equity through the syndication of four percent low income housing tax credits in partnership with a $25.14 million loan from the DC Department of Housing and Community Development’s Housing Production Trust Fund.