WASHINGTON, DC–The District of Columbia Housing Finance Agency has issued $6.10 million in long term and $10.73 million in short term tax exempt bonds that will serve as acquisition and construction financing for a $34.9 million affordable housing project in Ward 7.
The developer is a joint venture partnership between Pennrose Properties and The Warrenton Group called Deanwood Hills LLC.
The four-story Deanwood Hills Apartments, located at 5201 Hayes St., NE, will have 150 residential units, 40 of which will be set aside for households earning up to 30% of area median income and 10 units will be set aside for households earning up to 60% of AMI. The remaining 100 units will be affordable to households earning up to 60 percent of AMI.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.