Mayor Bowser Announces First National Housing Trust Fund Project Financed in Washington, DC
New Federal Housing Resource Used to Complement Local Affordable Housing Investments
(Washington, DC) – (RealEstateRama) – Mayor Muriel Bowser announced 1736 Rhode Island Avenue, NE, as the first affordable housing project in Washington, DC financed in part by the National Housing Trust Fund (HTF). The HTF is a new federal affordable housing production resource that will complement the District’s existing efforts to increase the supply of affordable housing for extremely low-income households, including families and individuals experiencing homelessness and individuals with disabilities.
“While we continue to make historic affordable housing investments here in the District, we know we can’t address the growing housing crisis alone – the federal government also must step up,” said Muriel Bowser. “We appreciate the National Housing Trust Fund and urge Congress to expand federal programs that help our most vulnerable residents.”
The lot at 1736 Rhode Island Avenue, NE will be transformed into 61 units of affordable housing in the Brookland neighborhood of Ward 5. The development leveraged both local and federal dollars, including $3.2 million from the HTF and $7.9 million from the District’s Housing Production Trust Fund (HPTF). The development will include a mix of one-, two-, and three-bedroom units, with 13 units designated as permanent supportive housing.
“Producing and preserving affordable housing in Washington, DC, can be complex and expensive,” said Department of Housing and Community Development (DHCD) Director Polly Donaldson. “Mayor Bowser has made historic investments that make our work possible and I am pleased to see the federal government coming to the table as well.”
Congress established the HTF through the Housing and Economic Recovery Act of 2008. Beginning in 2016, the first investments in the HTF were allocated to states. DHCD administers the HTF in the District.
For more information about the National Housing Trust Fund, visit https://dhcd.dc.gov/page/national-housing-trust-fund-nhtf.
