Eleven Projects to Produce or Preserve Affordable Housing for More Than 2,600 Residents, Including Housing for Residents Experiencing Homelessness
(Washington, DC) — (RealEstateRama) — Mayor Bowser announced the selection of 11 projects that will receive $138 million in DC Government funding to produce or preserve housing for more than 2,600 Washingtonians—including residents experiencing homelessness.
“Because we know that safe and stable housing is the first step toward a safe and stable life, we have and will continue to make historic investments in affordable housing,” said Mayor Bowser. “By investing more, as we do in my upcoming budget, and by getting more money out the door, as we’re doing with these eleven projects, together, we’re going to keep DC affordable for families and residents across the income spectrum.”
The 11 selected projects include 1,180 units that will produce and preserve affordable housing across Wards 1, 4, 5, 7, and 8. The projects consist of five new production projects, three preservation projects, and three mixed projects that preserve existing units but will also add new affordable units. All projects will serve households making no more than 80 percent of the Median Family Income (MFI, $117,200 in FY 2018). Over 12 percent of the units will be designated toward permanent supportive housing (PSH), serving individuals and families transitioning from homelessness and making no more than $35,160 (30 percent MFI.).
The funding for the projects includes $107,430,898 from the Housing Production Trust Fund (HPTF), $26 million in equity from 9 percent low-income housing tax credits (LIHTC), $5 million in HOME funds, and 146 Local Rent Supplement Program (LRSP) vouchers.
“From day one, we have followed the Mayor’s mandate to deliver more affordable housing in the District—units that will serve our most vulnerable residents, like those struggling with homelessness, and individuals and families at low to moderate incomes,” said DC Department of Housing and Community Development (DHCD) Director Polly Donaldson. “We are also doing so in a balanced way, to include brand new housing, preserved housing and projects that both preserve existing housing and add new units.”
The projects will now proceed to the underwriting stage and join other selected projects already in the pipeline at DHCD. The agency expects to release the next Request for Proposals for affordable housing projects in Summer 2019. The 11 projects are listed below.
- Spring Flats Family (Ward 4): Will produce 67 units using $9,943,765 in HPTF, including 58 units of affordable housing and nine PHS units. Developer: Spring Flats MD, LLC, comprised of Victory Housing, Brinshore Development and, Banc of America Community Development Corporation.
- Abrams Hall Assisted Living (Ward 4): Will produce 54 PSH units using $3,339,434 in HPTF; $9,992,850 in 9% LIHTC equity ($999,285 annual allocation). Developer: Urban Atlantic, Hines, and Housing Up.
- 218 Vine Street NW (Ward 4): Will produce 121 units of affordable housing, including 24 PSH units, using $12,729,738 in HPTF; $11,000,000 in 9% LIHTC ($1,100,00 annual allocation). Developer: Jair Lynch Real Estate Partners
- 2442 MLK (Ward 8): Will produce 112 units of affordable housing, including six PSH units, using $19,216,779 in HPTF. Developer: MidAtlantic Realty Partners LLC.
- 17 Mississippi Ave. SE Apartments (Ward 8): Will produce 41 units of affordable housing including nine PSH using $8,022,141 in HPTF. Developer: Legacy Real Estate Development LLC
- Cedar Street Apartments (Ward 4): Will preserve 30 units of affordable housing, including three PSH units, using $4,996,040 of 9% LIHTC equity ($499,604 annual allocation). Developer: Joseph Development, Inc.
- Park Southern Apartments (Ward 8): Will preserve 334 affordable units, including 10 PSH units, using $19,180,000 in HPTF. Developer: The Park Southern Residents’ Council, Inc., and Vesta Equity Corporation.
- Savannah Apartments II (Ward 8): Will preserve 65 units of affordable housing using $5,502,356 in HPTF and $2,705,620 in HOME funds. Developer: NHT-Enterprise Preservation Corporation.
Production and Preservation Projects
- Tivoli Gardens (Ward 5): Will provide 90 units, including two PSH units, using $2,220,125 in HOME funds. Developer: Manna, Inc.
- Urban Village Phase I (Ward 1): Will provide 115 units of affordable housing, including 14 PSH units, using $11,899,298 in HPTF. Developer: Somerset Development Company.
- Kenilworth 166 Phase 1 (Ward 7): Will provide 166 units of affordable housing, including 17 PSH units, using $17,597,387 in HPTF. Developer: The Warrenton Group, Michaels Development Company and the DC Housing Authority.
Since 2015, the Bowser Administration has delivered 7,200 affordable housing units using a variety of local and federal funding resources, including an unprecedented annual investment of $100 million into the Housing Production Trust Fund. At the start of her second term, Mayor Bowser set a bold goal to deliver an additional 36,000 units of housing—including at least 12,000 units of affordable housing—by 2025. In addition, the Mayor has called on the entire region to work together to produce 240,000 additional housing units.
This announcement comes on the heels of the Mayor’s State of the District Address, during which she announced that her proposed Fiscal Year 2020 budget will include a 30 percent increase in the Housing Production Trust Fund investment, bringing her annual investment to $130 million; an increase in the Housing Preservation Fund from $10 million to $15 million, which will yield an additional $45 million in private investment; and a new $20 million Workforce Housing Fund that will leverage private sector investment by 9 to 1, bringing the fund up to $200 million.