dhcd

Department of Housing and Community Development
 

DC Agency Top Menu


-A +A
Bookmark and Share

How Collaboration Leads To Homeownership

Thursday, May 14, 2020
In one of D.C.’s fastest gentrifying neighborhoods, a community of renters becomes part of the c

The four-story, mid-rise residential property at 1477 Newton Street NW is something of an anomaly in D.C., where the housing market can feel inaccessible and many residents struggle to have an ownership stake. The property is collectively owned by its residents, who were previously renting units in the building, some for more than 15 years. Homeownership in this area seemed like a long shot....

Due to affordability provisions in the Low-Income Housing Tax Credit loan, along with requirements in loans through the DC Housing Finance Agency and D.C. Department of Housing and Community Development, the building could only ever be occupied by tenants of modest means.

Curbed/Amanda Michelle Gomez

Read Full Article