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DCHFA Provides Financing for 220-Unit Affordable Housing Community in D.C.
The District of Columbia Housing Finance Agency (DCHFA) has provided funding for the construction of a 220-unit affordable housing community in Washington D.C.’s NoMa neighborhood. The DCHFA issued $29.9 million in tax-exempt bond financing and underwrote $17.4 million in four percent low income housing tax credit for the project.
The project is a component of the Northwest One Redevelopment Plan, a New Communities Initiative from the Office of the Deputy Mayor for Planning and Economic Development (DMPED). Northwest One Phase I is the first of three phases that will create a mixed-use, mixed-income neighborhood with 750 new units of quality housing options, economic opportunities and access to services and retail.
CSG Urban Partners, MidAtlantic Realty Partners and Taylor Adams Associates are the leaders of the development team constructing the $80.6 million Northwest One project. Additionally, the Deputy Mayor for Planning and Economic Development is providing additional financing for this phase of Northwest One in the form of a $13.8 million loan.
For comments, questions or concerns, please contact David Cohen
- ◦Development
