DC Affordable Project Lands $134M Financing Package

Situated on a historic site, the affordable housing project has entered its second phase.

Project at Firth Sterling Avenue and Suitland Parkway, Washington, D.C.
The Edmonson will include 139 LIHTC-restricted units and 50 public housing units. Image by Grimm + Parker Architects, courtesy of DCHFA

A joint venture between Preservation of Affordable Housing and the District of Columbia Housing Authority has received a $134.1 million financing package for The Edmonson, a 139-unit affordable housing development in Washington, D.C. The project is part of overhaul efforts ongoing at Barry Farm, marking its second phase.

Financing includes $61.1 million in tax-exempt bonds issued by the District of Columbia Housing Finance Agency, $52 million in federal LIHTC provided by DCHFA and a $21 million note originated by the Office of the Deputy Mayor for Planning and Economic Development’s New Communities Initiative.

READ ALSO: Serving the Underserved: An Affordable Housing Provider’s Take

The Edmonson will rise four stories on land owned by DCHA and is slated to provide 139 LIHTC-restricted units catering to residents earning at 30, 50, 60 and 80 percent of area median income. Moreover, the project will include 50 one- and two-bedroom replacement public housing units reserved for residents earning at 30 and 50 AMI and subsidized with federal funds.

Plans call for 22,000 square feet of retail space. Residents will have access to amenities such as a community room, playground, gym, business center and parking spaces.

The site is at the intersection of Firth Sterling Avenue and Suitland Parkway, providing access to several public transit options. These include several bus stops and the Anacostia Subway Station—part of the Green Line—all within walking distance.

A centuries-old affordable historic redevelopment

Barry Farm’s history traces its origins back to the 1860s, when a group of formerly enslaved and free-born Black people settled at the site, according to a 2022 article in the DCist. Nearly a century later, in 1943, The National Capital Housing Authority created 432 public housing units on a part of the site, using eminent domain.

After several more decades, the city launched its New Community Initiative, aiming to revitalize public housing, with Barry Farm among the targeted properties. Authorities granted zoning permits in 2014, nearly 10 years after the initiative was launched, with initial plans calling for the construction of 1,400 new units.

Due to various lawsuits, the redevelopment was delayed and later modified in 2022 to include 900 affordable housing units, with some 480 units replacing the demolished ones. That same year, construction began in earnest, kicking off the redevelopment estimated to take nearly eight years.

Barry Farm’s first redevelopment phase

Phase one of Barry Farm’s redevelopment included the construction of The Asberry, a $64 million, 108-unit affordable senior housing project developed by the National Affordable Housing Trust, DCHA and POAH.

Financing for The Asberry included $33.7 million in tax-exempt bonds for its construction issued by DCHFA, as well as $43 million originated by DMPED. Developers expect to wrap up the project by 2024.

You May Also Like