The NHP Foundation (NHPF), The Warrenton Group, and The Washington Metropolitan Community Development Corporation Celebrate Completion of The Strand Residences
86 new affordable homes in Washington, DC . WASHINGTON , Aug. 2 , 2022 |PRNewswire-PRWeb| -- Mayor Muriel Bowser joined representatives of The Warrenton Group (TWG), the Washington Metropolitan CDC (WMCDC) and NHPF along with financing partners - Enterprise Community Partners, Citibank, Jones Lang Lasalle , the District of Columbia Office of the Deputy Mayor for Planning and Economic Development (DMPED), the DC Housing Authority (DCHA), and the DC Housing Finance Agency (DCHFA) – today for the ribbon-cutting of The Strand Residences, an affordable housing development with 86 one-and two-bedroom affordable apartments in the Deanwood neighborhood of Washington, D.C. DMPED invested $15.6M of financing from the District''s New Communities Initiative, DCHFA allocated $21.7M of tax-exempt bonds to support the project, and DCHA contributed operating subsidies for 28 units through its Local Rent Supplement Program (LRSP). As well, the tax-exempt bond allocation provided an allocation of 4% Low-Income Housing Tax Credits that helped attract a $14.3M equity investment from Enterprise Community Partners.
The NHP Foundation (NHPF), The Warrenton Group, and The Washington Metropolitan Community Development Corporation Celebrate Completion of The Strand Residences
86 new affordable homes in Washington, DC . WASHINGTON , Aug. 2 , 2022 |PRNewswire-PRWeb| -- Mayor Muriel Bowser joined representatives of The Warrenton Group (TWG), the Washington Metropolitan CDC (WMCDC) and NHPF along with financing partners - Enterprise Community Partners, Citibank, Jones Lang Lasalle , the District of Columbia Office of the Deputy Mayor for Planning and Economic Development (DMPED), the DC Housing Authority (DCHA), and the DC Housing Finance Agency (DCHFA) – today for the ribbon-cutting of The Strand Residences, an affordable housing development with 86 one-and two-bedroom affordable apartments in the Deanwood neighborhood of Washington, D.C. DMPED invested $15.6M of financing from the District''s New Communities Initiative, DCHFA allocated $21.7M of tax-exempt bonds to support the project, and DCHA contributed operating subsidies for 28 units through its Local Rent Supplement Program (LRSP). As well, the tax-exempt bond allocation provided an allocation of 4% Low-Income Housing Tax Credits that helped attract a $14.3M equity investment from Enterprise Community Partners.