(Washington, DC) – Today, Mayor Bowser broke ground on South Capitol Street Apartments, a new development project that will bring 195 apartment units, ranging from efficiencies to three-bedrooms, and 5,000 square-feet of community space to the Bellevue neighborhood in Ward 8. The Mayor was joined at the groundbreaking by Congresswoman Eleanor Holmes Norton, city officials, members of the community, and the development team.
“As we continue to make unprecedented investments in the production and preservation of affordable housing throughout all eight wards, I am thrilled to break ground on South Capitol Street Apartments,” said Mayor Bowser. “This one project will give almost 200 individuals and families access to affordable housing, putting them on pathways to the middle class and setting more families up for success.”
All units in South Capitol Street Apartments will be reserved for households at or below 60 percent Area Median Income (AMI), and 78 units will be restricted to households at or below 30 percent AMI and targeted to formerly homeless individuals and families in need of permanent supportive housing (PSH). 40 of the PSH units will be subsidized by a Local Rent Supplement Program contract from the District of Columbia Housing Authority.
The $59 million development is being built on the site of the former South Capitol Street Shopping Center. Financing for the development includes $25 million in gap funding from the DC Department of Housing and Community Development’s (DHCD) Housing Production Trust Fund, $23.19 million in private equity raised through the sale of federal Low Income Housing Tax Credits, and $30 million in bond financing issued by the District of Columbia Housing Finance Agency (DCHFA).
“DCHFA’s investment in South Capitol Street Apartments is an opportunity to serve the housing needs of Ward 8 residents at various income levels,” said DCHFA Executive Director Todd A. Lee.
When completed, the new apartment building will feature amenities for community use, including fitness and business centers, a community room, and office space for Advisory Neighborhood Commission 8D. The building is also within half a mile of the Bellevue Neighborhood Library, the Department of Employment Services Job Center, and the Conway Health and Resource Center. In addition, several major commercial projects are planned for the neighborhood, including the construction of a 5,000-seat Entertainment and Sports Arena on the St. Elizabeths East campus.
Last month, Mayor Bowser released “DC Values in Action: A Roadmap to Inclusive Prosperity,” DC’s Fiscal Year 2018 Budget and Financial Plan and the third consecutive budget to include a $100 million investment in the Housing Production Trust Fund. In addition, DC Values in Action includes a $10 million investment in a new Housing Preservation Fund, ensuring the preservation of more affordable units.