(Washington, DC) – Mayor Muriel Bowser today cut the ribbon on the Atlantic Apartment Homes in the Washington Highlands neighborhood of Ward 8. The renovated property, formerly known as Atlantic Gardens and Atlantic Terrace, consists of nearly 300 family-sized units and includes expanded community services and the largest community solar project in the District.
“Through this project we are making good on our commitment to give more Washingtonians the opportunity to participate in the District’s prosperity,” said Mayor Bowser. “Just as the creation of affordable housing is critical to the future of our city, so is the preservation of existing units. Today, we’re celebrating that nearly 300 families will be able to stay and grow in the community they call home.”
The garden-style buildings, which occupy eight acres along 3rd and 4th Streets, SE near Livingston Road, SE had not been renovated in at least 30 years. The $69 million rehabilitation, developed by WinnCompanies, provides residents with modern and energy efficient housing and ensures that the units will remain affordable for at least 40 years. Specifically, 122 units will be affordable to households making no more than $35,160 (30 percent of the Median Family Income or MFI) and 181 units will be affordable to households making no more than $58,600 (50 percent MFI).
Ninety percent of the housing units will support families, with 70 three-bedroom units, 203 two-bedroom units, and 30 one-bedroom units. All residents will benefit from expanded community services, including two new learning centers, new and/or upgraded community rooms, and two new playgrounds as well as upgrades to an existing playground.
“This project not only dramatically improves the quality of life for more than 300 low-income families, but also brings the promise of reduced electricity bills to hundreds more. This simply would not be possible without Mayor Bowser’s innovative housing and energy programs,” said WinnCompanies CEO Gilbert Winn. “The revitalized Atlantic Apartment Homes stands as a powerful symbol of our 35-year commitment to multifamily property development and management in Washington, DC.”
This preservation project was a collaboration between the DC Department of Housing and Community Development (DHCD), the DC Housing Finance Agency (DCHFA), and the Department of Energy and Environment (DOEE). DHCD provided $10.6 million in financing through the Housing Production Trust Fund. DCHFA issued over $32.1 million in tax exempt bond financing, as well as $21.2 million in equity raised through an offering of four percent low-income housing tax credits (LIHTC). Citi Community Capital, DC Sustainable Energy Utility, and Boston Financial Investment Management provided private-sector financing for the financial restructuring and rehabilitation.
DOEE’s Solar for All program, which aims to provide the benefits of solar power to 100,000 low- and moderate-income households by 2032, provided a $1.3 million grant to support the installation of rooftop solar panels. The power from this community solar installation, the largest in the District, will be provided for free to over 160 income-qualified households, reducing their electricity bills by approximately $500 per year for the next 15 years. The project aligns with the Sustainable DC plan and Mayor Bowser’s commitment to make the District carbon neutral and climate resilient by 2050.
Since coming into office, the Bowser Administration has sparked the creation or preservation of more than 10,800 affordable units, with another 5,200 in preconstruction.