Closing on $38M in Financing for Construction of 86 New Affordable Homes in Washington, DC. (District of Columbia Housing Authority)

Date Published: 
August 8th, 2019


The NHP Foundation (NHPF), The Warrenton Group (TWG) and the Washington Metropolitan CDC (WMCDC) and financing partners - Enterprise Community Partners, Citibank, Jones Lang Lasalle, the District of Columbia Office of the Deputy Mayor for Planning and Economic Development (DMPED), the DC Housing Authority (DCHA), and the DC Housing Finance Agency (DCHFA) - closed the financing for the construction of the Strand Residences, an affordable housing development with 86 one-and two-bedroom affordable apartments in the Deanwood neighborhood of Washington, D.C.

DMPED invested $15.6M of financing from the District’s New Communities Initiative, DCHFA allocated $19.5M of tax-exempt bonds to support the project, and DCHA contributed operating subsidies for 28 units through its Local Rent Supplement Program (LRSP). As well, the tax-exempt bond allocation provided an allocation of 4% Low-Income Housing Tax Credits that helped attract a $12.3M equity investment from Enterprise Community Partners.

Read PRWEB's article "Closing on $38M in Financing for Construction of 86 New Affordable Homes in Washington, DC.," featuring the District of Columbia Housing Authority.

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