ACQUISITION / PRESERVATION / REDEVELOPMENT

Ridgecrest Village Apartments

Ridgecrest Village Apartments is a 272-unit apartment development located at 2000 Ridgecrest Court, SE in the Congress Heights neighborhood of Washington, DC.


TOTAL COST
$ 31,106,440

DESCRIPTION
The property consists of 1,2, and 3 bedroom units in 13 three-story buildings. 50% of the units are at 80% AMI.

FINANCING
Secured financing and funding for this project included:

$ 21,075,000Chase Senior Mortgage Debt
$ 7,500,000DHCD DHCD/Capital Impact Partners Subordinate Debt
$ 2,524,740 Seller Note




FOLLOW OUR COMMUNITY BUILDING

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NHPF’s diverse income and rent structure provides housing for a range of households from low to moderate income. Notwithstanding income levels, the same level of amenities and access to our services is offered to all residents.

This property is just one example of how NHPF’s commitment to affordable housing has helped American families.

ABOUT THE NHP FOUNDATION
Founded in 1989, The NHP Foundation strives to provide quality affordable multi-family housing and resident services for low to moderate income families. Since 1994, NHPF has acquired and preserved 94 properties, totaling 16,438 units, located in 19 states and the District of Columbia. Today, NHPF’s portfolio includes 52 properties, totaling 8,815 apartment units, in 15 states and the District of Columbia. NHPF also provides service programs to approximately 28,000 community residents.