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Washington DC  + Senior Housing  | 

D.C. Closes on Financing for Hebrew Home Redevelopment

The District of Columbia closed on financing for Spring Flats, a redevelopment of the historic Hebrew Home for the Aged at 1125 Spring Rd., NW. The 185-unit mixed-income rental community is being developed by Victory Housing, Brinshore Development and Banc of America Community Development Corporation.

“These types of projects are helping to continue our commitment to delivering a variety of housing options – rental and home ownership – for all different income levels and family sizes across the District,” said Washington Mayor Muriel Bowser.
The financing covers the project’s 88-unit senior affordable housing component. Deal terms weren’t disclosed.

In addition to D.C. municipal agencies, other financial partners for Spring Flats include TD Bank, BlueHub Capital, Walker & Dunlop, Boston Capital, JPMorgan Chase and the Local Initiative Support Corporation. Financing for the remainder of the Spring Flats project will close in the coming months.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).