The District of Columbia Housing Finance Agency (DCHFA) has recently announced the issuance of $61.1 million in tax-exempt bonds and underwriting of $52 million in federal Low Income Housing Tax Credit equity for the construction of The Edmonson. This project, located within the Barry Farm redevelopment area in DC, will provide 139 affordable apartments to residents.
This investment by DCHFA marks their second contribution to the revitalization efforts at Barry Farm, following a previous issuance of $33.7 million in tax-exempt bonds for The Asberry – a senior housing development set to open in 2022. Along with financing from a $21 million DMPED NCI loan, The Edmonson will include units restricted by LIHTC regulations as well as replacement public housing units and retail space. Developed jointly by Preservation for Affordable Housing Inc., and DCHA, this project boasts amenities such as a community room, playgrounds, fitness center and business center; along with on-site parking facilities.
According to Christopher E.Donald – Executive Director/CEO at DCHFA- “We are proud to continue our support towards revitalizing Barry Farm through investments like these.The constructionofTheEdmondsonwillprovidebeautifulandaffordablehomesforresidents.”
