Steve Clinton, Chief Financial Officer

DC Housing Finance Agency

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Terrace Manor – Ward 8

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Multi-Family Development Program
Project Type
Hud Risk Share
Project Type
  • New Construction
  • 130 affordable apartment homes reserved for residents earning 60 percent or less of the area median income
  • Total development cost: $82.4 million
  • DCHFA issued $36.9 million in tax exempt bond financing and underwrote $33.8 million in Low Income Housing Tax Credit equity
  • Bond financing was secured by HUD insured mortgage loas made under DCHFA’s Level I 50/50 Risk Share Program
  • Developers: WC Smith and Anacostia Economic Development Corporation

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