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DCHFA Finances New Affordable Apartments in Columbia Heights
The District of Columbia Housing Finance Agency (DCHFA) issued $48.26 million in tax exempt bonds, underwrote $34.9 million in federal and $6.8 million in DC Low-Income Housing Tax Credit equity for the construction of Harvard Court Apartments.
Additional financing for the development is provided by a $24.3 million loan from the DC Department of Housing and Community Development’s Housing Production Trust Fund. Located at 1425 Harvard Street NW, Harvard Court Apartments will include 108 one, two, and three-bedroom apartments restricted at the 30 and 50 percent area median income levels.
“Bringing new affordable housing to Columbia Heights is about more than building units—it’s about protecting the diversity and vitality that give this neighborhood its soul,” said Christopher Donald, Executive Director/CEO, DCHFA. The NHP Foundation, Columbia Heights Village Tenants Association, Inc. and Change All Souls Housing Corp. are the developers of Harvard Court Apartments, a $100 million project.
