WI Web Staff
The D.C. Housing Finance Agency made its final affordable housing investment of the fiscal year 2023 with the issuance of $46.2 million in tax-exempt bonds and underwrote $49.4 million in federal Low Income Housing Tax Credit equity for the construction of Carl F. West Estates, located in Ward 1.
The West Estates will consist of 179 units reserved for seniors and grandfamilies.
“DCHFA is proud to add another grandfamily development to the agency’s robust investment portfolio,” said Christopher E. Donald, the agency’s executive director/CEO. “We are continuing to address the need for senior housing and housing with supportive services for grandparents raising their grandchildren. We have had a very active September of deal closings and adding more affordable housing in Ward 1 is a great way to end the fiscal year.”
West Estates will be the third grandfamily housing community, with Plaza West in Ward 6 in 2018 as the first and H.R. Crawford Gardens in September in Ward 7 as the second. West Estates is also getting financing from the D.C. Department of Housing and Community Development in the form of a $49.5 million loan from the Housing Production Trust Fund.
The National Council on Black Aged Housing Development Corporation of the District of Columbia and DMA Development Company LLC are the developers of West Estates, a $134.4 million project. Supportive services will be provided by Miriam’s Kitchen, for PSH and active adult tenants.
There will be a full-time social service coordinator who will develop and coordinate service programs for the senior population, as well as grandfamilies.