Where That $187 Million for Affordable Housing Is Coming From, and How It’ll Be Spent
This morning, nearly nine months after pledging to spend $100 million on affordable housing, Mayor Vince Gray outlined his plans to commit $187 million to the creation and preservation of nearly 3,200 affordable housing units. The extra $87 million, as it turns out, is not really an additional allocation of funds for low-income housing; it's actually money that's already in the pipeline for affordable housing, according to Andrew Trueblood, deputy chief of staff to Deputy Mayor for Planning and Economic Development Victor Hoskins.
The initial $100 million, says Trueblood, was largely budget-surplus money that was being dedicated to the Housing Production Trust Fund to increase and improve D.C.'s affordable housing stock. But the additional money comes from sources like D.C.'s deed transfer and recordation taxes and the federal government that were always earmarked for affordable housing. Gray's announcement this morning wasn't a promise of new funding, but rather a description of where that funding is going.
So where is it going? Below is a list of the projects that'll receive these affordable housing dollars between now and the end of the next fiscal year through the Department of Housing and Community Development. The biggest beneficiary projects are So Others Might Eat's Benning Road development (198 units), the vacant Parkway Overlook complex near Anacostia (183 units), and the Gregory Apartments in Washington Highlands (124 units)—all east of the Anacostia River—along with eight buildings currently undergoing Tenant Opportunity to Purchase Act negotiations (1,139 units).
The DHCD project account for $181 million of the $187 million commitment; an additional $6.3 million was awarded to community-based organizations for affordable housing, according to DMPED spokeswoman Chanda Washington.
Update: The eight buildings on which DHCD is negotiating to provide financial assistance to the tenant associations looking to buy the properties are as follows:
1. Chanel Square: 305 P St. SW
2. Valencia Apartments: 5922 13th St. NW
3. Vizcaya Apartments: 1388 Tuckerman St. NW
4. Concord Apartments: 5807 14th St. NW
5. 7611 and 7701 Georgia Ave. NW Tenants Association
6. 1919 Calvert St. NW Tenants Association
7. Portner Place Apartments: 1441-1449 U St. and 1440-1450 V St. NW
8. Wingate: 4660 Martin Luther King, Jr. Ave. SW
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