(Washington, DC) – Today, Mayor Muriel Bowser announced that at the close of its 2020 Fiscal Year (FY20) the Department of Housing and Community Development (DHCD) committed more than $104.5 million from the Housing Production Trust Fund (HPTF) to 22 projects that will create or preserve more than 1,000 affordable housing units for District residents.
“Our commitment to producing and preserving affordable housing in Washington, DC has not waivered during the public health emergency,” said Mayor Bowser. “The pandemic has reinforced how important it is that we continue to invest in projects in all eight wards that provide residents with safe and affordable places to live.”
The trust fund provides gap financing for a range of projects that includes new construction, refinancing, rehabilitation, acquisitions, supporting tenants who exercise their right to purchase through the Tenant Opportunity to Purchase Act (TOPA) and predevelopment loans.
“As we work to reach the District’s goal of producing 36,000 homes, 12,000 affordable, by 2025, we must use a range of tools like the gap financing provided by the Housing Protection Trust Fund, as well as inclusionary zoning, planned unit developments, and more,” said John Falcicchio, Deputy Mayor for Planning and Economic Development. “We also urge the Council to pass the Comprehensive Plan this year so that even more affordable housing can be put into play, helping us provide a more equitable distribution of affordability across the city.”
In FY20, the $104.5 million investment included $46.3 million for five new construction projects that will produce 261 units; $54.8 million for eight preservation projects that will preserve 741 units; and $600,000 for six projects that received predevelopment loans.
“Although COVID-19 has been disruptive for everyone, I'm very proud of the resiliency that our staff has shown by continuing the work of investing in affordable housing,” said DHCD Director Polly Donaldson. “The Housing Production Trust Fund is a great tool that gives us the flexibility to make adjustments and provide financing solutions for the affordable housing needs of the District.”
Since Mayor Bowser declared a public health emergency in March, 15 projects have received more than $54.6 million in HPTF financing leading to the fifth straight fiscal year the agency has invested more than $100 million in affordable housing.
Below is a list of projects that received HPTF financing in FY20:
- 22 Atlantic Cooperative in Ward 8 ($360,070 HPTF) to preserve 15 units. Developer: 22 Atlantic Cooperative Association Inc.
- North Capitol Commons in Ward 6 ($.5 million HPTF) to produce 124 units. Developer: McCormack Baron Salazar & Community Solutions
- 1550 First Street SW in Ward 6 ($13.87 million HPTF) to produce 76 units. Developer: TM DBT Limited Partnership
- Anacostia Gardens in Ward 7 ($9.8 million HPTF) to preserve 99 units. Developer: Anacostia Gardens Investor LLC
- HanTiv in Wards 5 and 8 ($9.7 million HPTF) to preserve 90 units. Developer: PB HavTiv Owner LLC
- Todd A. Lee Senior Residences in Ward 4 ($7.37 million HPTF) to produce 38 units. Developer: Kennedy Street Community Partners LLC
- 1100 Eastern Avenue NE in Ward 7 ($8.26 million HPTF) to produce 63 units. Developer: Neighborhood Development Corporation.
- Park Place Apartments in Ward 7 ($100,000 HPTF) for predevelopment only. Developer: Manna, Inc.
- The Courts at South Capitol Apartments in Ward 8 ($100,000 HPTF) for predevelopment only. Developer: Manna, Inc.
- 1 Hawaii Avenue NE in Ward 5 ($100,000 HPTF) for predevelopment only. Developer: Wesley Housing Development Corporation
- SOME Scattered Sites III in Wards 2 and 4 ($4.74 million HPTF) to preserve 87 units. Developer: SOME Inc.
- Spring Flats Senior 9% in Ward 4 ($826,000 HPTF) to preserve 45 units. Developer: Spring Flats MD LLC
- Spring Flats Senior 4% in Ward 4 ($3.5 million HPTF) to preserve 43 units. Developer: Spring Flats MD LLC
- Cedar Street Apartments in Ward 4 ($4.51 million HPTF) TOPA rights exercised to preserve 30 units. Developer: Anchor Preservation LLC
- Park Southern Apartments in Ward 8 ($19.69 million HPTF) TOPA rights exercised to preserve 336 units. Developer: 800 Southern Avenue LLC
- Liberty Place Apartments in Ward 6 ($1.93 million HPTF) to produce 71 units. Developer: National Housing Trust – Enterprise Preservation Corporation
- 1445 Spring Road NW in Ward 4 ($2 million HPTF) to preserve 13 units. Developer: Hope Cooperative Association
- Mary’s House in Ward 7 ($100,000 HPTF) for predevelopment only. Developer: Mary’s House for Older Adults
- Minnesota and 27th Street in Ward 7 ($6.42 million HPTF) will produce 26 units. Developer: Neighborhood Development Corporation
- Spring Flats Family in Ward 4 ($10.37 million HPTF) to produce 58 units. Developer: Spring Flats MD LLC
- Hyacinth’s Way in Ward 8 ($100,000 HPTF) for predevelopment only. Developer: The Institute for Urban Living Inc.
- Barnett-Aden Apartments in Ward 5 ($100,000 HPTF) for predevelopment only. Developer: Mi Casa, Inc.
Bowser Administration’s Commitment to Affordable Housing
Mayor Bowser reaffirmed her commitment to investments in affordable housing with her Fiscal Year 2021 budget, recognizing that both short- and long-term efforts must be ongoing to preserve housing affordability and stability for all District residents. The Mayor’s FY21 budget includes an investment of $100 million in the Housing Production Trust Fund – for the sixth consecutive year – and a $1 million investment in the Housing Preservation Fund.
At the start of her second term, Mayor Bowser set a bold goal to deliver an additional 36,000 units of housing – including at least 12,000 units of affordable housing – by 2025. From January 2019 through July 2020, the District has produced 10,658 units, of which 1,692 are affordable. You can track the District’s progress toward #36000by2025 at open.dc.gov/36000by2025.