Mayor Bowser Announces Financing to Help Produce Over 80 Affordable Homes in Wards 2 and 4
(Washington, DC) – Today, Mayor Muriel Bowser and the Department of Housing and Community Development (DHCD) announced $11.4 million in financing that will produce more than 80 new units of affordable homes for low-income residents and seniors in Wards 2 and 4.
“Just as we recognized with our DCHOPE budget, investing in the production of affordable housing is an essential way to move our city forward by giving more residents the opportunity to live and thrive in the District,” said Mayor Bowser. “In these uncertain times, we’ll keep using all of the tools at our disposal to close deals that bring affordable housing to all eight wards.”
Scattered Sites III LLC, an entity owned and operated by nonprofit SOME Inc., received $4.7 million in financing from the Housing Production Trust Fund and $6.6 million from DHCD’s federal HOME allocation for Anna Cooper House, a 47-unit apartment building at 1338 R Street, NW in Ward 2, and Karin House, a new 40-unit senior apartment building at 1395 Aspen Street, NW in Ward 4.
“Gap financing is so integral at delivering affordable housing units that offer residents an opportunity to remain in the city," said DHCD Director Polly Donaldson. "We are very fortunate to continue our work even during this disruptive and difficult public health crisis.”
Karin House marks the continuation of the work by the Office of the Deputy Mayor for Planning and Economic Development (DMPED) to provide affordable housing on Walter Reed’s campus. The project joins HELP USA’s development for former homeless District veterans, The Brooks and Vale buildings which offers market-rate and affordable condominium and rental units, and Abrams Hall with affordable senior units.
“Projects like these continue the excitement happening on the Walter Reed Campus,” said Acting Deputy Mayor for Planning and Economic Development John Falcicchio. “The addition of Karin House helps long-time residents remain in the city while also welcoming them to a new affordable place to call home.”
Units at Anna Cooper House and Karin House will be available for households whose annual income fall within $26,500 to $49,900.
“Karin House at the Parks at Walter Reed marks another significant milestone in our focused effort to bring more affordable housing to Ward 4 and to the District of Columbia,” said Ward 4 Councilmember Brandon Todd. “This project will provide new, affordable homes to our most vulnerable population and will add to the vibrancy of our community.”
Both projects also received financing from the DC Housing Financing Agency (DCHFA) through tax exempt bonds and federal low-income housing tax credits.
“Housing is the solution to homelessness,” said Ralph Boyd, President and CEO of SOME. “We are proud to continue to expand our affordable housing portfolio into Northwest DC, making these vibrant neighborhoods accessible for those experiencing extreme poverty.”
Completion dates for both projects are estimated to be in Fall 2021.