“Celebrating the completion of this new build of affordable housing is the culmination of a combination of thoughtful investment, exceptional partner relationships and a pure positive attitude,” said NHPF CEO Richard Burns.
WASHINGTON (PR WEB)
August 02, 2022
Mayor Muriel Bowser joined representatives from the Warrenton Group (TWG), the Washington Metropolitan CDC (WMCDC) and the NHPF as well as financial partners – Enterprise Community Partners, Citibank, Jones Lang Lasalle, the office of the District of Columbia from the Deputy Mayor for Planning and Economic Development (DMPED), the DC Housing Authority (DCHA) and the DC Housing Finance Agency (DCHFA) - today for the grand opening of The Strand Residences, a affordable housing development with 86 affordable one- and two-bedroom apartments in the Deanwood neighborhood of Washington, DC
DMPED invested $15.6 million in District New Communities Initiative funding, DCHFA allocated $21.7 million in tax-exempt bonds to support the project, and DCHA contributed grants. operating for 28 units through its Local Rent Supplement Program (LRSP). Additionally, the tax-exempt bond allocation provided a 4% allocation of low-income housing tax credits that helped attract a $14.3 million equity investment from Enterprise. Community Partners.
In addition to the 86 units, the residences feature a large multi-purpose room, an exercise room, and the first floor includes retail space for a neighborhood non-profit and community retailer. Importantly, the building includes space for on-site services provided by NHPF’s resident services subsidiary, Operation Pathways. Operation Pathways, the resident services affiliate of NHPF, transforms affordable housing communities through personalized on-site programs and coaching where residents partner with service practitioners to learn skills, overcome barriers and learn well. live.
“Strand Residences will give more Washingtonians in Ward 7 the chance they deserve – both through high-quality housing as well as important on-site services and support that will help residents achieve their goals. “said Mayor Bowser. “We are grateful to all of the teams and community members who have come together to make this project possible and who are committed to investing in and uplifting our community.”
The residences are next to the Strand Theatre, a local historic landmark which the development team plans to convert into a new restaurant.
“Celebrating the completion of this new construction of affordable housing is the culmination of a combination of thoughtful investment, exceptional partner relationships and a can-do attitude,” said NHPF CEO Richard Burns. “Nothing exemplifies NHPF’s mission with more impact than bringing vibrant new development of permanently affordable rental units and commercial space to this emerging neighborhood of Deanwood. I congratulate our partners on this significant milestone. »
PGN Architects is the official architect, WCS Construction is the general contractor and WCS Property Management is the property manager. The development team commits to spend at least 35% of the project funds on products and services provided by certified commercial companies.
Additionally, the Strand Residences development recently received Enterprise Green Communities certification. Enterprise Green Communities is the only national green building certification program in the country designed explicitly for the affordable housing sector.
As a brownfield, the site’s dirt and contaminated groundwater prevented redevelopment for decades. The sponsors took the project through the district’s voluntary cleaning program to ensure complete remediation of contaminants and achieved the first NHPF certification in the DC area.
Now complete, the residences include 71 one-bedroom apartments and 15 two-bedroom units. The building is 100% leased. Twenty-eight families left nearby properties in Lincoln Heights and Richardson Dwellings to support DCHA’s efforts to revitalize these communities.
Finally, Leshada Stewart, a single mother with a 6-month-old baby who had been waiting to move into her apartment for nearly a year, said: ‘I thought, sometimes, this would never happen, then I saw my beautiful unit and was just thrilled. I can’t stop running around and thanking God for this great moment. “
About the NHP Foundation
Based in New York with offices in Washington, D.C. and Chicago, IL, the NHP Foundation (NHPF) was launched on January 30, 1989 as a 501(c)(3) nonprofit real estate corporation funded by the State. . NHPF is dedicated to preserving and creating sustainable, service-enriched multi-family housing and single-family homes that are both affordable to low- and middle-income families and seniors and beneficial to their communities. NHPF’s Construction Management Group provides internal resources dedicated to infrastructure review, infrastructure development and cost management. Through family-centered coaching, NHPF’s Operation Pathways affiliate engages with families experiencing poverty and other challenges and helps them solve problems together. Through partnerships with major financial institutions, the public sector, faith-based initiatives, and other nonprofit organizations, NHPF owns 61 properties, including more than 10,000 units, in 16 states and the District of Columbia. For more information, please visit http://www.nhpfoundation.org.
About Warrenton Group
Since its inception in 1997, The Warrenton Group has been an innovator in developing quality mixed housing and market-use developments, while creating substantial value for the people and neighborhoods in which it works. TWG is a full-service development company that works from concept to completion. He handles development, investment, construction and management with industry-leading creativity. TWG is responsible for over $1 billion in development, construction and investment, and has acquired, built or preserved over 3,000 high-quality residential units and over 300,000 square feet of commercial space throughout the metro area. from DC.
About Metropolitan Washington CDC
The Washington Metropolitan Community Development Corporation is a nonprofit community economic development corporation that works primarily in the Deanwood neighborhood of Washington, DC. Through his systematic and sustainable community development efforts, he aims to help low-income people realize their dreams of living in a vibrant and affordable community.