NHPF remains very concerned regarding the overall health and well-being of our 25,000 residents during the Covid-19 crisis. We have been actively working with our third-party management companies in taking steps such as increased cleaning of common areas, limiting resident contact except for emergency situations and, through our resident services program subsidiary Operation Pathways, providing resources for financial assistance, food, medicine, transportation, and needed supplies. In addition, we have placed a moratorium on all evictions for non-payment of rent for the duration of this crisis and are actively engaging our residents who have been financially impacted to discuss payment plans. We fully appreciate the social and emotional tolls the length of this crisis have taken on our residents and we will follow all local and state government directives regarding the reopening of our sites and community centers. The safety and well-being of our residents remains our highest priority.

Coming Soon: Strand Residences

Affordable Housing Coming Soon to Washington, DC

Once completed in the first quarter 2021, the Strand Residences will bring 86 affordable apartments (71 one-bedroom and 15 two-bedroom units) to the Deanwood neighborhood. One-third of the units (or twenty-eight units) will be replacement housing for the nearby Lincoln Heights and Richardson Dwelling properties and will be affordable to households who earn less than 30% of the area median income. The building also has two retail bays for neighborhood-based companies, a gym and bike locker, a patio and lounge, and two large community rooms. The Residences is next door to the Strand Theater, a historic landmark that the NHP Foundation intends to renovate in 2020.

Total Cost

$ 38,265,000

REDEVELOPMENT

NHPF is collaborating on the project with The Warrenton Group and the Washington Metropolitan Community Development Corp (WMCDC) to undertake a $38 million redevelopment project utilizing low income housing tax credits and tax-exempt bonds, as well as subsidies provided by DC Government.

Permanent Financing

$ 12,265,000District’s New Communities Initiative
$ 12,265,0004% LIHTC (Enterprise Housing Credit Investments)
$ 8,500,000Tax-exempt Freddie Mac loan by JLL
$ 1,900,000Deferred Development Fee

Construction Period Only Financing

$ 11,000,000Short term tax-exempt bonds (D.C. Housing Agency)