Ah financing—such an elusive things these days, especially for those projects that won’t deliver million- dollar penthouses or pricey apartments with monument views.

Yesterday, the Treasury Department announced a 33.7 million grant to D.C. for affordable housing. Read More “Treasury Grants $33.7 Million for District Affordable Housing” »

Some 14 percent of D.C.-area residents said that affordable housing (or lack thereof) was a leading concern in the region. Transportation issues came out on top, followed by “Economy/Jobs” and, well, you can read the rest.

The report was released today by the Metropolitan Washington Council of Governments (COG). The organization polled people from around the region, not just in D.C. proper, which has got me thinking about how Washingtonians would rearrange these priorities. Read More “Affordable Housing (Not Quite) a Top Priority in the DC Area” »

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The Hubbard Place Apartments at 3500 14th Street

Earlier today, Mayor Adrian Fenty, Ward 1 Councilmember Jim Graham, and execs from Somerset Development Company joined others for the dedication of a 230-unit affordable housing building at the corner of 14th Street and Otis Place in Columbia Heights. Built in 1927, the Hubbard Place Apartments were just given a $52 million face-lift, complete with new elevators, new community spaces and a computer lab, new kitchen and baths, windows, roof, and all new common areas, according to a press release sent out by the city.

Read More “Ribbon-Cutting for $52 Million Affordable Housing Renovation Held Today” »

According to the D.C. Examiner, the city was about to pay $3.1 million for this 32-unit property at 1438 Newton Street.

Ward 1 Councilmember Jim Graham said it best with this line: “That is an extraordinarily high price for a building that it’s not even clear that there are usable walls…The roof is probably beyond reliable use. You’re barely talking about a shell.”

The building is set to be rehabbed as affordable housing. The Department of Housing and Community Development negotiated the deal—though one has to wonder if “deal” is really the right word to use with this outcome. In any case, the city’s tax office assessed the building at nearly $1.1 million. Another appraisal by DHCD put the market value at roughly $2.9 million, according to the Examiner, which also, apparently, forced the issue into review: Read More “City Offers $3.1 Million for Columbia Heights Dump” »

• Yesterday, Mayor Adrian Fenty announced that Blue Skye Development will build a 26-unit condo project in Brightwood. Roughly half of the condos will be sold to couples earning up to $55,000. The other units will be market-rate, the Washington Post reports.

• Ward 8 Councilmember Marion Barry has introduced a bill to put away $100 million annually for the New Communities project, reports the Washington Business Journal. The Housing Production Trust Fund, “the city’s pot of cash for lowering housing costs,” is not generating enough money: in fiscal year 2007, it took in $59 million; in the current fiscal year, it’s projected to bring in $29 million.

• A southeast D.C. apartment community will receive millions for green improvements, according to the Washington Business Journal. “Community Preservation and Development Corp. will replace existing building systems, upgrade the existing flat roof with a new pitched roof, and do site improvements and extensive interior renovations.”