More affordable housing is being preserved near Anacostia in Washington, D.C.’s Southeast quadrant. The NHP Foundation (NHPF) has acquired Woodmont Crossing, a 176-unit residential complex for low-income residents, with the intention to invest $42,000 per unit to renovate every apartment and upgrade every kitchen and bathroom.
As reported by the Washington Post, once the renovation is complete, the units will be for households earning up to 60 percent of the area median income. 5 percent of the units will also be fully accessible for those with disabilities.
For the acquisition, NHPF partnered with the Woodmont Crossing United Tenants Association as part of the city’s Tenant Opportunity to Purchase Act (TOPA) with financing coming from a loan from the District of Columbia Housing Finance Agency (DCHFA) and low-income-housing tax credit financing from the Royal Bank of Canada.
This will be the first time Woodmont Crossing has been renovated since 2002. This is the fifth TOPA project in D.C. to be purchased in partnership with NHPF, according to the Washington Post. The complex is located at 2327 Good Hope Road SE.
• Apartment complex for low-income people in Southeast D.C. slated for modernization [The Washington Post]
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