DC Mayor Muriel Bowser Earmarks $136M for Affordable Housing
Washington Mayor Muriel Bowser, along with the city Department of Housing and Community Development, announced on Thursday $135.5 million in new funding for 10 affordable housing projects expected to deliver 796 homes in the District, the mayor’s office said.
The funds come from $400 million approved in this year’s D.C. budget as well as from tax credits and rental vouchers, plus federal gap financing. They are being done through the Housing Production Trust Fund (HPTF), the city’s major vehicle for affordable housing production.
“I set bold goals for new housing, for new affordable housing, and for new affordable housing in every neighborhood of the District because we know where you live affects your pathway to the middle class,” Bowser said in a statement. “Today’s selections move us closer to all three of those goals and particularly getting us to a more equitable distribution of affordable housing in the city.”
Ward 4 is the beneficiary of two of the projects: the rehab of 30 units at Aspen Street Cooperative by Aspen Street Cooperative.; and the 93-unit Fort Totten Senior Apartments, by Arlington Partnership for Affordable Housing and EYA.
Two of the projects are in Ward 8: Hope View Apartments, a joint venture between T&H Mid-Atlantic and Anacostia Economic Development Corporation, which will bring 48 new units of affordable housing; and Wagner Senior by Miller Housing and Justice Housing, which will add 67 new units.
The rest of the projects are in Wards 1,5 and 7 and will bring TK units of affordable housing to D.C.
“These selections today only confirm what we already know — to deliver housing affordability, we need more investment in our affordable housing tool kit if we have any chance of hitting our goals, especially in high-opportunity areas,” John Falcicchio, deputy mayor for planning and economic development, said in a statement.
The city says it will select more projects to receive HPTF funding this spring.
Keith Loria can be reached at Kloria@commercialobserver.com.