Mayor Bowser Funds 10 Projects to Build and Preserve 940 Affordable Homes

National -

July 7, 2020

(Washington, DC) – RealEstateRama – Mayor Bowser announced the selection of 10 projects that will produce and preserve 940 affordable homes and more than 300 market rate homes. The affordable housing projects are being funded primarily through a $66 million investment from the Housing Production Trust Fund (HPTF).

“We were very focused on adding and preserving affordable housing before the pandemic hit, and we still are,” said Mayor Bowser. “We know the important role safe and affordable housing plays in helping us build a healthier and more equitable DC. These ten projects – in addition to the many affordable housing projects we have in the works across the city – will help us keep hundreds of families and residents in DC.”

In October 2019, Mayor Bowser made Washington, DC the first city in the nation to set affordable housing goals by neighborhood. The 10 selected projects include the production of 740 new units of affordable housing in Wards 1, 4, 5, 6, and 8, representing five of the city’s 10 planning areas. The selected projects include a focus on units serving families and residents at or below 50% of the Median Family Income (about $61,000 for a family of four).

“Our values and goals did not change when the public health emergency hit,” said Department of Housing and Community Development (DHCD) Director Polly Donaldson. “With our continued historic investments in the Housing Production Trust Fund, these selected projects get us further towards our equitable distribution goals, ensuring residents can live anywhere in the city.”

The projects will now proceed to the underwriting stage and join other selected projects in the pipeline at DHCD. The list of selected projects and a brief summary are given below:

Production:

So Others Might East (SOME) North Capitol Street (Ward 5) – Requested $18,398,733 in HPTF to produce 136 units of affordable housing at or below 50% Median Family Income with a majority targeting 30% Median Family Income or below. Community Builder: SOME, Inc.
MDXXX Flats (Ward 6) – Requested $9,807,740 in HPTF and also National Housing Trust Fund to produce 101 affordable units at or below 50% Median Family Income. Community Builder: UPO Community Development Corporation and REBJ, Inc.
Northwest One (Ward 6) – Will produce 220 units including 150 units of affordable housing with 65 units targeting residents at or below 30% Median Family Income. Community Builder: MidAtlantic Realty Partners
Waterfront Station II (Ward 6) – Will produce 450 units including 136 units of affordable housing using a 9% Low Income Housing Tax Credit (LIHTC) allocation. Community Builder: AHC, Inc, Hoffman and Associates, CityPartners, and Paramount Development
The Clara on MLK (Ward 8) – Requested $13,497,698 in HPTF to produce 81 units of affordable housing at or below 50% Median Family Income. Community Builder: Banneker Ventures

Preservation:

505 Jefferson Street, NW (Ward 4) – Requested $1,637,480 in HPTF to preserve 14 units as affordable housing through a limited equity cooperative. Community Builder: Phoenix Cooperative Association
Cascade Park (Ward 8) – Requested $12,743,055 in HPTF and a 9% LIHTC allocation to preserve 132 units of affordable housing. Community Builder: Dantes Partners
United 2nd Street (Ward 8) – Requested $899,016 in HPTF to preserve 13 units as affordable housing through a limited equity cooperative. Community Builder: United 2nd Street

Preservation and Production:

Faircliff Plaza East (Ward 1) – Requested $7,602,104 in HPTF and also National Housing Trust Fund to provide 125 units of affordable housing including units for permanent supportive housing. Community Builder: Somerset and Housing Up
The Hampshire (Ward 4) – Requested $1,681,951 of HPTF and a 9% LIHTC allocation to provide 56 units of affordable housing. Community Builder: Wesley Housing