Hebrew Home Update 05/09/20
DC Closes Financing for Petworth Affordable Housing Redevelopment
The property, Hebrew Home, is set for redevelopment into an 185-unit affordable housing development for senior citizens and families. The project will be renamed Spring Flats
The DC Housing Finance Agency arranged for $7.1 mil in tax exempt bonds, $3.7 mil in Low Income Housing Tax Credit equity, $10.1 mil in LIHTC equity, and $4.1 mil from the Department of Housing and Community Development's Housing Production Trust Fund.