Number of Units

133

Year Developed

2013

Development Costs

$35.9 million

Goal

New construction of mixed income housing on an urban infill site.

Description

SeVerna on K completes the redevelopment of the former Golden Rule Center site at 43 K Street NW. Mission First completed this mixed income building in partnership with Golden Rule Apartments Inc., a nonprofit affiliate of Bible Way Church, and The Henson Development Company. This project is part of the Northwest One New Communities Plan.

 

The 9-story high rise 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 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 New Communities funding and funding through the Neighborhood Investment Fund. PNC Bank provided low income housing tax credit equity. The building includes units set aside for individuals and families previously relocated from the neighborhood under the Northwest One New Communities program.

 

Interested in living at SeVerna on K? Click here for more information.