The D.C. Housing Finance Agency has issued $30.6 million in tax-exempt bonds for the construction of Fort Totten Senior Apartments in Ward 4.
The agency underwrote $20.2 million in federal funds and $3.6 million in District Low Income Housing Tax Credit equity for the development of the 100% affordable community, reserved for seniors aged 62 and older.
“Fort Totten is a vibrant and rapidly growing community,” said Christopher E. Donald, executive director/CEO of DCHFA. “The Fort Totten Senior Residences will create 93 units for our seniors to age in place. This continuum will continue to enrich the neighborhood and the city.”
The apartments will be located a third of a mile from the Fort Totten Metro Station. The facility will include three studio, 84 one-bedroom and six two-bedroom units
The facility, developed by Arlington Partnership for Affordable Housing, will be handicapped-accessible. Thirty-nine of the 52 units restricted at 30% of the area median income will benefit from a Local Rent Supplement Program subsidy, including 10 one-bedroom units set aside for Permanent Supportive Housing tenants.
Residency will be limited to seniors with incomes up to 50% of the area median income. The D.C. Department of Housing and Community Development is providing a $25.5 million loan from the Housing Production Trust Fund for the development.