Today, Department of Housing and Community Development (DHCD) Director Polly Donaldson released the eligibility criteria and enumerated the process for selling two completely rehabilitated homes at 1319 V Street, SE and 1328 W Street, SE.
“This affordable homeownership opportunity is all about giving everyone a fair shot at owning their own home. We have set the prices and affordability levels of these homes where we know the market is not producing units of this size,” said DHCD Director Polly Donaldson. “To offer such large size units, and for them to be affordable in perpetuity, is exactly what we want for this historic project in such a storied community.”
The Historic Anacostia Homes were relocated and rehabilitated on this lot from the Maple View Flats & Big K development on Martin Luther King Jr. Avenue, SE. The homes are in the heart of Historic Anacostia a short walk from Frederick Douglas National Historic Site, Busboys & Poets, Anacostia Arts Center, and a commercial corridor with more exciting developments delivering every day.
1319 V Street, SE
$285,000
3 Bedroom, 2.5 Bathroom
60% Median Family Income (MFI)
Minimum Household Size of 3
1328 W Street, SE
$231,000
3 Bedroom, 2.5 Bathroom
50% Median Family Income (MFI)
Minimum Household Size of 3
Each home is being sold according to the Inclusionary Zoning 2020 Maximum Income, Rent and Purchase Price Schedule, which at 50% MFI for a family of four is a maximum annual income of $63,000 and a 60% MFI $75,600.
Interested homeowners will have until November 16th to express interest in purchasing the homes by visiting dhcd.dc.gov/myfairshot and completing the linked Expression of Interest application form self-certifying household size and income requirements, including uploading a pre-approval letter from a lender indicating the homeowner’s ability to purchase.
Once closed, a random lottery will be conducted to select five to seven households that will be ranked in order of selection. Opportunities will be provided for the selected homeholds to tour the property with their real estate agents and, if interested, will be asked one by one pursuant to rank order to submit documentation to the agency to complete income and household size certification. Upon certification, the selected household will have 60 days to complete their closing and become a new homeowner.