The District of Columbia Housing Finance Agency (DCHFA) issued $40 million in tax-exempt bonds, underwrote $37.5 million in federal and $9.3 million in LIHTC equity for the substantial rehabilitation of 178 apartments at Henson Ridge.
Urban Atlantic Development LLC and Capitol Housing Partners LLC, a subsidiary of the DC Housing Authority, are the developersthat will rehabilitate Henson Ridge II. The proposed $103 million rehabilitation includes 64 LIHTC units and 114 project-based voucher units. The mix of units consists of 52 one-bedroom, 28 two-bedroom, 50 three-bedroom, 38 four-bedroom, and 10 five-bedroom units.
The rehabilitation plans include replacing roofs, windows, doors, kitchens, and bathrooms, as well as modernizing the HVAC and mechanical systems. “By investing in these 178 homes, we are modernizing buildings, preserving larger bedroom size units for families, and protecting long-term affordability for residents who have deep roots in this community,” said Christopher E. Donald, Executive Director and CEO, DCHFA.
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