88 affordable apartment homes reserved for residents earning 60% or less of the area median income
Total development cost: $25 million
DCHFA issued $12.5 million in tax exempt bond financing and underwrote $7 million in Low Income Housing Tax Credits for the rehabilitation of 78 existing units and the construction of 10 new apartment homes
Bond financing was secured by HUD insured mortgage loas made under DCHFA’s Level I 50/50 Risk Share Program
Members of the Randolph Street Tenant Association exercised their rights under the Tenant Opportunity to Purchase Act
