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Mayor Bowser Announces 1,000 Affordable Housing Units Created or Preserved Through FY20 Housing Trust Fund Investment

Wednesday, October 21, 2020

Today, Mayor Muriel Bowser announced that at the close of its 2020 Fiscal Year (FY20) the Department of Housing and Community Development (DHCD) committed more than $104.5 million from the Housing Production Trust Fund (HPTF) to 22 projects that will create or preserve more than 1,000 affordable housing units for District residents.

“Our commitment to producing and preserving affordable housing in Washington, DC has not waivered during the public health emergency,” said Mayor Bowser. “The pandemic has reinforced how important it is that we continue to invest in projects in all eight wards that provide residents with safe and affordable places to live.”

The trust fund provides gap financing for a range of projects that includes new construction, refinancing, rehabilitation, acquisitions, supporting tenants who exercise their right to purchase through the Tenant Opportunity to Purchase Act (TOPA) and predevelopment loans.

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