The DC Department of Housing and Community Development (DHCD) closed on funding for five affordable housing projects in the first quarter of Fiscal Year 2008 (FY 2008). These projects, which represent an investment of more than $31 million, will preserve or create 627 units of affordable housing. All units will be affordable for low-to-moderate income District residents who earn at or below 80 percent of the Area Median Income (AMI), meaning that all units will be affordable for a family of four that earns $60,000 or less.
“DHCD is committed to providing affordable housing opportunities for low-income residents, and we have worked diligently to increase our production of units,” said Leila Finucane Edmonds, DHCD Director. “We will continue to work with various organizations in the District to preserve and produce affordable housing.”
The Department uses both federal and local funding to support affordable housing initiatives. Funding from these projects was provided from the US Department of Housing and Urban Development’s Home Investment Partnerships Program (HOME) and the locally-appropriated Housing Production Trust Fund (HPTF).
Summaries of Projects