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Terrace Manor Update 08/11/22

Terrace Manor Receives $95M from DCHFA and DHCD 

Terrace Manor, the all-affordable project in Randle Heights has landed $37 million in tax-exempt bonds and $33.8 million from The District of Columbia Housing Finance Agency. The joint venture between WC Smith and Anacostia Economic Development Corp plans for 130 units of the project will be set aside for individuals earning at or below 60 percent of the area median income.

Additional financing includes a $24.5 million HPTF loan from the DC Department of Housing and Community Development.

Terrace Manor will have 75 one-bedroom units, 47 two-bedroom units, and 8 three-bedroom apartments. 

Amenities are expected to include a community room, fitness center and business center. Free local shuttle services, garage parking, bike storage, and enhanced security measures will also be available. 

The project will also have some rooftop solar panels and a community garden and bio-pond in the rear courtyard.

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