17 Mississippi
5 Stories with 41 affordable dwelling units (ADUs)
17 Mississippi
5 Stories with 41 affordable dwelling units (ADUs) Legacy is the Co-Developer of this 100% affordable housing residential development located in Washington DC. Completed in mid-2023, 17 Mississippi Apartments provides 41 units of newly constructed affordable housing in the Congress Heights neighborhood of Southeast Washington, DC. This new six-story building—four wood-framed stories on top of a two-story concrete podium has been built into a gently sloping hillside on the south side of Mississippi Avenue and provides 10 on-site parking spaces. The units are a mix of studios, one bedrooms, and three bedroom apartments.
Property Details
- Total Development Cost: $22,879,150
- Total Residential Units: 41
- Development Partner: NHP Foundation
- Deal Type: LIHTC
| Permanent Financing | |
| Citi Community Capital Permanent Loan | $4,332,000 |
| DC Housing Production Trust Fund Debt | $8,699,866 |
| 4% LIHTC Equity from WNC & Associates | $8,822,980 |
| Deferred Developer Fee | $610,735 |
| DC HPTF Accrued Interest | $413,569 |
Developers
Legacy Real Estate Development, LLC is a Co-Developer and Private partner. NHP Foundation is Co-Developer and Non-Profit partner.
Award Winning Development
17 Mississippi Apartments has been awarded "The best Small Affordable Development" in the Capitol area including Washington D.C., Maryland, and Virginia.
Project Timeline
17 Mississippi had it's ribbon cutting event in 2023
Location
17 Mississippi Ave SE, Washington, DC 20032
