Source: REBusiness OnlineDevelopers have landed $25.4 million in construction financing for the development of a new affordable housing project in Washington, D.C.
Where is this happening?
Who is involved?
Developer: Standard Communities / Housing on Merit
When is this happening?
The project’s estimated completion date is currently unknown.
This project will witness the renovation and revitalization of a historic apartment building into an array of much-needed affordable housing units.
Mix of studio, one-, two-, and three-bedroom units
88% of units reserved for those earning 60% of area’s median income, remaining reserved for those earning 30% of the area’s median income
New key fob entry system
42 residential units
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