WASHINGTON, D.C. – (RealEstateRama) — Mayor Muriel Bowser joined District residents and officials to celebrate the unprecedented investment of over $100 million from theHousing Production Trust Fund (HPTF). The $106.3 million supports 19 projects that will produce or preserve more than 1,200 affordable housing units in all 8 wards.
“When I took office, we set out to ensure that all residents—no matter their background, income, or ZIP code—could afford to live in the District,” said Mayor Bowser. “With over $106 million now fully invested to produce, preserve and protect affordable housing, we are helping to deliver on that promise. This amount of financial commitment—and the speed in which it occurred— has never happened in the District of Columbia. Because of our efforts, real money is getting out the door that will allow over 2,600 residents to call the District home.”
Mayor Bowser commemorated the achievement at the ground breaking ceremony for Beacon Center, a 99-unit affordable housing development on Georgia Avenue in Ward 4. Beacon Center is the project that took the HPTF over the $100 million mark.
Beacon Center and the other projects financed with this historic investment represent several ways that the District produces and preserves affordable housing, such as rehabilitation, new construction, refinancing, acquisitions, and supporting tenants’ rights to buy their buildings through the Tenant’s Opportunity to Purchase Act (TOPA).
Also included is a pilot program with the DC Housing Authority (DCHA) that will help fund small repairs for properties serving low-income households.
“From day one, Mayor Bowser has charged me with making affordable housing a priority so that people who want to live in the District, can do so,” said Brian Kenner, Deputy Mayor for Planning and Economic Development. “This milestone with the Housing Production Trust Fund shows that we are taking this challenge seriously, at levels unheard of before in the District of Columbia.”
The new construction projects, which received financing in excess of $70.7 million, will produce nearly 800 affordable housing units. The rehabilitation projects and TOPA purchases, which received more than $25.6 million in financing, will preserve 315 affordable housing units. About $9 million was made available to acquire and refinance more than 100 affordable units. The balance of slightly less than $1 million went to public housing repairs.
“Our goal is to use all of the tools at our disposal to produce and preserve affordable housing in all eight wards, and that includes the Housing Production Trust Fund,” said Polly Donaldson, Director of the Department of Housing and Community Development (DHCD). “This historic accomplishment shows that the District is exceeding expectations. We are working hard to ‘do more, with more’ so we can make affordable housing happen.”
Since coming into office, Mayor Bowser has committed $100 million annually to the fund – more than any city per capita in the country. A report issued by Center for Community Change shows that the District’s $100 million fund more than tripled the next highest fund amount for a U.S. city. Compared to states, DC’s trust fund is the country’s second largest.
Projects that received HPTF Financing in FY 2016:
The Conway Center, 4414 Benning Road, NE in Ward 7 ($17.95 million HPTF): New construction that will create 178 affordable units for homeless families and individuals (162 units up to 30% of the area median income (AMI, which is $108,600 for 2016) and 16 at 40% AMI) and four supportive staff units. Developer: So Others May Eat (SOME).
Kara House, 1498 Spring Place, NW in Ward 1 ($1.45 million HPTF): Rehabilitation of a building purchased by tenants using TOPA. There will be two affordable units up to 30% AMI, seven units up to 50% AMI and one unit up to 80% AMI. Developer: Mi Casa.
Luzon Tenant Association, 6323 Luzon Avenue, NW in Ward 4 ($5.14 million HPTF):The tenants purchased their 43 unit building using TOPA and received funding for acquisition, predevelopment and making critical repairs. There will be 11 affordable units up to 50% AMI, 30 units up to 60% AMI and two units up to 80% AMI. Developer: Mi Casa.
Barlee Tenant Association, 909 Longfellow Street, NW in Ward 4 ($3.67 million HPTF): The tenants received funding to purchase their 37 unit building using TOPA. There will be 25 affordable units up to 50% AMI and 12 units up to 80% AMI. Developer: Mi Casa.
4000 Benning Road, 4000 Benning Road, NE in Ward 7 ($7.17 million HPTF): New construction of a 71 unit apartment building that will create 53 affordable units up to 50% AMI and 18 units of permanent supportive housing up to 30% AMI. Developers: 4000 Benning, LLC, the Warrenton Group and the Washington Metropolitan Community Development Corporation (WMCDC).
Archer Park, 1101 Mississippi Avenue, SE in Ward 8 ($7.24 million HPTF): New construction of a 190 unit building that will create eight affordable units up to 30% AMI for permanent supportive housing, and 182 units up to 60% AMI. Developers: Archer Park, Limited Partnership and WC Smith Construction.
Plaza West, 1035 4th Street, NW in Ward 6 ($17.87 million HPTF): New construction of a 223 unit building that will provide 50 affordable units for “grandfamilies” (making 30% to 40% AMI), and 173 units at 50% to 60% AMI. Eleven units will be set aside for permanent supportive housing. Developers: Golden Rule Plaza Inc. and Mission First HDC.
Langdon Apartments, 2613 Bladensburg Road, NE in Ward 5 ($3.29 million HPTF):New construction of a 33 building with affordable units up to 60% AMI. Developers: Stuart Alexander & Associates, Inc., the DC Coalition for Housing Justice, Inc. (DCCHJ) and Langdon Lofts Holding, LLC.
DCHA Public Housing Repairs Pilot Program ($0.94 million HPTF): Funding for small repairs of public housing units serving low income households.
Hope and a Home Scattered Sites II in Ward 2 Columbia Heights ($0.64 million HPTF). Rehabilitation of four vacant properties into 14 affordable units up to 30% AMI. Developer: Hope and a Home.
Homestead Apartments, 812 Jefferson Street, NW in Ward 4 ( $5.03 million HPTF):The tenants received funding to purchase and rehabilitate their 55 unit building using TOPA. Developer: Hampstead Jefferson Partners LP.
Maycroft Apartments, 1474 Columbia Road, NW in Ward 1 ($7.54 million HPTF):Refinancing to preserve the affordability of a 64 unit building up to 60% AMI. Developer: Jubilee Housing.
4000 Kansas, 4000 Kansas Avenue, NW in Columbia Heights Ward 4 ($0.72 million HPTF): Refinancing as part of a substantial rehabilitation of 19 affordable units up to 60% AMI. Developer: CHANGE All Souls Housing.
1314 K Street Cooperative, 1314 K Street, SE in Ward 8 ($0.56 million): Rehabilitation of 12 units to ensure affordability up to 80% AMI. Developer: 1314 K Street SE Cooperative.
The Beacon Center, 6100 Georgia Avenue, NW in Ward 4 ($17.22 million HPTF): New construction of rental housing for families, veterans and senior citizens, with 18 units at 30% AMI for permanent supportive housing and 81 units at 60% AMI. Developers: The Emory Fellowship (Emory United Methodist Church, Emory Beacon of Light, Inc.) and The Community Builders.
Parkchester Apartments, 2704 Wade Road, SE in Ward 6 ($6.41 million HPTF): A rehabilitation to preserve 94 units up to 50% AMI. Developer: National Housing Partnerships Foundation (NHPF).
3200 13th Street, SE in Ward 8 ($0.17 million HPTF): Acquisition designed to preserve the affordability of 12 units. Developer: 3200 13th Street, LLC.
Manna Brightwood, 734 Longfellow Street, NW in Ward 4 ($2.74 million HPTF): Working with tenants to rehabilitate building in order to preserve the affordability of 60 units, with seven units at 50% AMI and 53 units at 60% AMI. Developer: Manna, Inc.
New Columbia Community Land Trust Workout, Scattered Sites in Ward 2 ($0.58 million HPTF): Acquisition related to rehabilitating scattered sites that will preserve six affordable units. Developer: New Columbia Community Land Trust.
For more information on the Housing Production Trust Fund and other affordable housing investments, visit: dhcd.dc.gov