Washington, DC Anacostia Gardens
Benning Heights After years of unaddressed capital needs and deferred maintenance, the 148-unit Benning Heights was to be sold. The market price for the building would likely make rents unaffordable so the Benning Heights Tenants Association (BHTA) chose to exercise the powers afforded them under the District of Columbia’s TOPA program. Partnering with NHPF, BHTA had the market-based purchase contract assigned to them and acquired the building. BHTA and NHPF have undertaken a comprehensive redevelopment of the property with low income housing tax credits as well as subsidies provided by DC Government.
Columbia Heights Village Apartments
Anacostia Gardens Tenant Association chose to purchase and preserve the 100-unit Anacostia Gardens, an unassisted affordable housing property in need of significant rehab. Based on successful previous experience with other District Tenant Opportunity to Purchase Act (TOPA) deals, NHPF was chosen as developer partner. In 2020, NHPF and the Tenants Association will complete funding to undertake a comprehensive $28.3 million rehabilitation upgrade of the property.
CHANGE/All Souls Housing Corporation, which has been developing affordable housing in the District since 1975 worked with Columbia Heights Village Tenants Association when the association chose to exercise its Tenant Opportunity to Purchase (TOPA) rights to purchase property. The decision was then made to partner with NHPF, and the result of this collaboration is affordable, rental units for over 600 residents. Funding for $41 million acquisition was completed in 2018. A future comprehensive rehabilitation of the property is being planned.
The Roundtree Residences Vision of Victory (VOV) was established by Allen Chapel AME as a community development corporation in Southeast Washington, DC. VOV was given full access to Allen Chapel’s undeveloped land to develop 91 units of low-income senior affordable housing. VOV was unable to secure bank financing and a tax credit investor. Joining NHPF’s Affiliate Program changed everything. Through VOV’s affiliation with NHPF, a co-developer entity was formed, bank financing secured, and a tax credit investor joined the team. Now known as The Roundtree Residences, NHPF’S and VOV’s environmentally sensitive project was completed on time, under budget, and has won several awards.
Parkchester In Washington, DC, the Parkchester Tenants Association (PTA) found that their building was being sold despite years of deferred maintenance and other capital needs never addressed by the previous owner. Using the powers afforded them under the District of Columbia’s Tenant Opportunity to Purchase Act (TOPA), PTA partnered with NHPF to have the market-based purchase contract assigned to them and acquire the building. PTA and NHPF undertook a comprehensive rehabilitation of the property with low income housing tax credits as well as subsidies provided by DC Government and U.S. Department of Housing and Urban Development (HUD).
The Strand Residences NHPF, The Warrenton Group (TWG), and the Washington Metropolitan CDC (WMCDC), a faith-based affiliate, collaborated to construct The Strand. It is a mixed-use, mixed-income development featuring and 86-unit midrise building (new construction), new retail space (10,000 SF) and the renovation of an historic theater in Washington, DC’s Deanwood community. The residences will serve District of Columbia households earning between 30% and 80% of Area Median Income (AMI). The $33.2 million project is funded with low income housing tax credits, new markets tax credits (for the community theater) and additional funding from the DC Municipal Government.
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