DCHFA Funds 41 Congress Heights Affordable Apartments
By Keith Loria August 13, 2021 1:32 pm
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D.C.’s Housing Finance Agency is financing a new affordable housing complex in the Congress Heights neighborhood of Washington, D.C.
The $23 million project, called 17 Mississippi Avenue Apartments, is a joint venture between the National Housing Partnership Foundation, The Peebles Corporation and Domaine.
The District of Columbia Housing Finance Agency put forth $10.3 million in tax-exempt bond financing and underwrote $8.9 million in four percent Low-Income Housing Tax Credits to help fund the project, according to a prepared statement.
The property, located in Ward 8’s Congress Heights, will consist of 41 affordable rental homes, including 16 efficiency, 12 one‐bedroom, and 13 three‐bedroom units. The project will help propel the District toward reaching Mayor Muriel Bowser’s goal of 36,000 new homes and 12,000 affordable, per the statement.
“All units will be restricted to residents earning no more than 50 percent of the area median income,” according to the statement. Nine of the units will be classified as Permanent Supportive Housing (PSH) units, with Community Connections of DC providing supportive services for the PSH residents. These will be set aside for D.C. residents earning no more than 30 percent AMI.
Amenities at the apartment community will include a rooftop area, a fitness center, an interior community room, bicycle storage and 12 off‐street surface parking spaces.
“As development and home values increase, DCHFA’s investment helps to ensure that residents at all income levels will be able to afford to live here and enjoy the neighborhood’s growth,” Christopher E. Donald, DCHFA’s executive director and CEO, said in the prepared release.
Update: This story originally misattributed source material. This has been corrected. We apologize for the error.
Keith Loria can be reached at kloria@commercialobserver.com.
