DCHFA Finances New Affordable Senior Housing and Grandfamily Development in Ward 7
by Mission First HousingYield Pro
The District of Columbia Housing Finance Agency (DCHFA) issued $25.9 million in tax exempt bonds, underwrote $21.4 million in federal Low Income Housing Tax Credit (LIHTC) equity and $4 million in District LIHTC equity for the construction of H.R. Crawford Gardens located at 737 50th Street NE in Ward 7.
The new 76-unit development will be home for seniors, grand-families (grandparents raising minor children) and tenants who previously experienced homelessness. “The need for senior housing in the District is great and continues to grow. DCHFA’s investment in H.R. Crawford Gardens allows us to address this issue as well as the unique needs of grand-families,” stated Christopher E. Donald, Executive Director/CEO, DCHFA. “Living in this community will help to ease the financial burden of grandparents by providing affordable housing as well as creating a supportive environment of peers that are also caring for children.” H.R. Crawford Gardens will be the District’s second grand-family housing community. Plaza West was the first affordable grand-family development in D.C. It opened in 2018 and is in Ward 6. DCHFA provided $44.1 million in tax exempt bond financing for the project.
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