HR Crawford
76 unit development located in Ward 7.
HR Crawford
Addressing the pressing needs of grand families, DCHFA’s investment aims to alleviate the financial challenges faced by grandparents while fostering a supportive environment for those caring for children,” expressed Christopher E. Donald, Executive Director and CEO of DCHFA, in conversation with Commercial Observer. The investment encompasses the issuance of $25.9 million in tax-exempt bonds, underwriting $21.4 million in federal low-income housing tax credit (LIHTC) equity, and providing $4 million in District LIHTC equity for the construction of H.R. Crawford Gardens, a 76-unit development located in Ward 7.
The development team includes Manna Corporation, Mutreja Developer, MED Developers, Legacy Real Estate Development, CRP Affordable Housing, and Community Development. Situated at 737 50th Street NE, this housing initiative is tailored for seniors, grandfamilies, and individuals who have experienced homelessness. Income restrictions for residents range from 30 percent to 50 percent of the area median income, presently standing at $129,000 for a family of four.
Description
Comprising 53 one-bedroom and 23 three-bedroom units, the development incorporates 12 fully accessible units meeting federal standards and 15 designated permanent supportive housing units subsidized by the DC Housing Authority. Amenities, including a green roof, community room, fitness center, outdoor terrace, and an on-site permanent supportive housing management office, enhance the overall living experience.
- Total Development Cost: $51 Million
- Total Resi Units: 76
- Deal Type: LIHTC
- Property Manager: TM Associates
Developers
Location
737 50th St NE, Washington, DC 20019
