NEW YORK, Jan. 27, 2020 /PRNewswire-PRWeb/ -- Leading affordable housing provider, The NHP Foundation ("NHPF") has secured financing from District of Columbia Housing Finance Agency (DCHFA) to redevelop and preserve Anacostia Gardens Apartments. NHPF acquired the 100-unit Ft. Dupont development in 2016 in partnership with the Anacostia Gardens Tenant Association, Inc. (AGTA).
The Association exercised its rights under the District's Tenant Opportunity to Purchase Act (TOPA) and selected NHPF as the developer on the rehabilitation of the building which includes 37 one-bedroom, 49 two-bedroom and 14 three-bedroom units.
The planned rehabilitation includes energy improvements, interior unit repair and upgrades, dramatically improving the common areas, and adding measures to make the building handicap accessible. Additional work includes repairs to exterior sidewalks, windows, light fixtures, security systems, roofing and more.
The renovation will include kitchen and bathroom upgrades, new smoke and carbon monoxide detectors, and HVAC systems and thermostats. In addition to the apartments, there is a playground, on-site parking, a community room and central laundry facility. Upon completion, the community room will consist of additional recreation and meeting spaces.
"Kicking off the decade with the refinancing of Anacostia Gardens is of major importance to our ongoing TOPA work in the District," said NHPF President and CEO Richard Burns. "The development is one of our five area TOPA deals and when it's finished, Anacostia Gardens will be also be a certified 'Green Communities' project."
The Department of Housing & Community Development, (DHCD) under the leadership of Polly Donaldson, Executive Director, is also responsible for bringing the redevelopment to fruition through its financial support totaling $9.85M. Donaldson remarked, "The Anacostia Gardens development is an example of DC Mayor Muriel Bowser's ongoing commitment to ensuring that District residents maintain their roots in the city."
"The DC Housing Finance Agency recognizes the importance of preserving existing affordable housing in the District. In addition to funding the development of new housing, DCHFA aims to preserve properties like Anacostia Gardens so that the residents who have chosen to live there get to do so in modern, quality affordable apartments," stated Christopher E. Donald, Interim Executive Director, DCHFA.
ABOUT THE NHP FOUNDATION
Headquartered in New York City with offices in Washington, DC, and Chicago, IL, The NHP Foundation (NHPF) was launched on January 30, 1989, as a publicly supported 501(c)(3) not-for-profit real estate corporation. NHPF is dedicated to preserving and creating sustainable, service-enriched multifamily housing that is both affordable to low and moderate income families and seniors, and beneficial to their communities. Through Family-Centered Coaching, NHPF's subsidiary Operation Pathways engages with, and assists, families experiencing poverty and other hardship, to problem-solve together. Through partnerships with major financial institutions, the public sector, faith-based initiatives, and other not-for-profit organizations, NHPF has 56 properties, including more than 10,000 units, in 15 states and the District of Columbia. For more information, please visit http://www.nhpfoundation.org.
SOURCE NHP Foundation