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Developers To Secure Funds For Affordable Housing On Vacant DC Site

The vacant site is now being redeveloped for those who are homeless, at the risk of becoming homeless, or tenants with disabilities.

October 16, 2023

In Washington, D.C, Developers seek $103 Million in funds for an affordable housing project on a vacant site.

Berkadia Affordable Housing arranged $37.8 million in financing for the second phase of Northwest One development, which will consist of over 400 units in two buildings when finished.

The property is a joint venture by MRP Realty, Taylor Adams Associates, and CSG Urban Partners and is about to be developed. The vacant site was previously occupied by Temple Courts, which was an affordable housing project.

There were 211 units in the Temple Courts Complex which was acquired for redevelopment in 2007 but was torn down in 2009. The residents were given vouchers so that they could pay for affordable housing elsewhere in the city as part of D.C.’s New Communities Initiative. Besides this, the residents were also told that they would be welcomed back into new, mixed-income units once the development was complete.

D.C.’s New Communities Initiative was launched in 2005 and was designed to preserve public housing along with adding new affordable and mixed-family housing options.

The funds for the project will include 4% Low-Income Housing Tax Credits (LIHTC) with additional funds coming from tax-exempt bonds and a second trust loan from the District of Columbia as the total cost of development is $103 Million.

The first phase of the Northwest One development, called Northwest I, which includes 220 units at 2 L Street NW, opened in the previous winter. The second phase, Northwest One, will comprise 212 units with a variety of unit sizes from studios to four bedrooms. These units will be designated for individuals and families with incomes ranging from 30 to 60 percent of the area median income, which is presently $93,547 for a four-person household.

Nearly 11 units will be set aside for the tenants who were homeless or were at risk of becoming homeless along with the tenants with disabilities.

The amenities provided to the tenants under the units will include a clubhouse, fitness center, laundry room, business center, and game room.

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The content provided in this article draws inspiration and includes quotes from various reputable sources, including news articles, government data, and interviews. Affordable Housing 411 strives to ensure accuracy and credibility, but the information presented may be based on some external sources. We encourage readers to refer to the referenced materials for more in-depth insights and verification.

Loria Keith. “Developers Secure Funding for $103M Affordable Housing Project on Vacant DC Site”. Commercial Observer, October 6, 2023,

Developers Secure Funding for $103M Affordable Housing Project on Vacant DC Site – Commercial Observer

Last Updated: September 20, 2021