H.R. Crawford Gardens
Update
09/13/23
Financing Secured for Deanwood Affordable Housing Development
CRP Affordable Housing and Community Development, in partnership with Manna Inc., MED DEVELOPERS, LLC and Mutreja Development LLC, has closed on financing for H.R. Crawford Gardens, a 76-unit affordable housing project in Washington, D.C. which will meet Passive House energy efficiency standards.
Once construction of this $52 million project is complete, it will provide safe and permanent affordable housing for seniors earning up to 50% AMI. Additionally, 16 of the units will be dedicated to families experiencing homelessness, which is made possible with project-based vouchers awarded through DC Housing Authority’s Local Rental Supplemental Program (LRSP). The Project is financed by 4% Low Income Housing Tax Credits (LIHTC), DC LIHTC and D.C.’s Housing Production Trust Fund (HPTF).
The District of Columbia Housing Finance Agency (DCHFA) issued $25.9 million in tax exempt bonds, underwrote $21.4 million in federal Low Income Housing Tax Credit (LIHTC) equity and $4 million in District LIHTC equity for the construction of the project. “The need for senior housing in the District is great and continues to grow. DCHFA’s investment in H.R. Crawford Gardens allows us to address this issue as well as the unique needs of grandfamilies,” stated Christopher E. Donald, Executive Director/CEO, DCHFA. “Living in this community will help to ease the financial burden of grandparents by providing affordable housing as well as creating a supportive environment of peers that are also caring for children.” H.R. Crawford Gardens will be the District’s second grandfamily housing community. Plaza West was the first affordable grandfamily development in D.C. It opened in 2018 and is in Ward 6. DCHFA provided $44.1 million in tax exempt bond financing for the project.
