Mission First Housing Group

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Mayor Gray Cuts Ribbon on The SeVerna on K

by Mission First Housing

Newly constructed 133-unit mixed-income apartment building opens

Washington, DC—This morning, The Honorable Vincent C. Gray, Mayor joined development partners Mission First Housing Group, Golden Rule Apartments, Inc., and the Henson Development Company to celebrate the grand opening of The SeVerna on K, a newly constructed 133-unit mixed-income apartment building in downtown Washington DC located at 43 K Street NW.

“This is an important occasion as we celebrate the completion of more quality affordable housing for the residents of the District of Columbia,” said Mayor Gray. “Through great partnerships we are able to make neighborhoods that are healthy and thriving.”

In addition to the Mayor, Michael Kelly, Director, DC Department of Housing and Community Development; Maria K. Day-Marshall, Director, DC Housing Finance Agency; The Honorable Tommy Wells, Councilmember, Ward 6; Sarah Constant, Managing Director, Mission First Housing Group; Yvonne L. Williams, Chair, Board of Trustees, Bible Way Church and Ronald D. Lipford, AIA, NOMA, President, Golden Rule Apartments, Inc. made remarks on the impact of this project to the community and help cut the ribbon on the 9-story apartment building.

“We are so pleased to welcome returning and new residents to The SeVerna on K, the second building we have completed in partnership with Golden Rule Apartments Inc. and The Henson Development Company under the New Communities program,” said Sarah Constant, Managing Director for Mission First Housing Group.

The development was financed with tax exempt bonds issued by the DC Housing Finance Agency under a private placement structure with Bank of America. DHCD provided HOME funding, and the Office of the Deputy Mayor for Planning and Economic Development provided Neighborhood Investment Fund and New Communities funding. PNC Bank provided low income housing tax credit equity. The mixed income building includes units set aside for individuals and families previously relocated from the neighborhood under the Northwest One New Communities program.

The SeVerna on K includes studio, one and two bedroom units with underground parking. Amenities include a club room, fitness room, business center, lounge, and roof deck with views of the Capitol. The building incorporates many green design features that will enhance livability for residents. For more information about the property and leasing opportunities, visit www.SeVernaonK.com.

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FOR IMMEDIATE RELEASE: December 11, 2014
Contact: Becky Lang Staffieri
Cell: (215) 651-4858
rstaffieri@missionfirsthousing.org

Mission First Housing Group develops and manages affordable, safe and sustainable homes for people in need, with a non-profit, mission-driven focus on the most vulnerable. We ensure our residents have access to resources to help them live independently. We deliver housing that provides long-term benefits to residents and neighborhoods, alike. Mission First is a full-service real estate organization developing high-quality, green community assets across the Mid-Atlantic region. Mission First currently provides affordable housing and services to nearly 3,800 people in over 2,800 units, serving low income populations that include veterans, elderly and the disabled. More information at www.missionfirsthousing.org.

Posted Under: Press Releases, Special Events