Community and business leaders and residents joined representatives of Baltimore-based Enterprise Community Development (ECD) for the grand opening and ribbon cutting of Randle Hill Apartments at 3300 6th St. SE in Washington’s Congress Heights neighborhood.
The event celebrated the preservation of affordable apartment homes for 195 families, including 20 set aside for formerly homeless individuals and families, ensuring affordable housing maintains in the District of Columbia as housing instability is exacerbated by the pandemic.
The $51 million preservation project was made possible through a unique partnership between Enterprise Community Development, Bank of America, DC DHCD, DCHFA, Neighborworks Capital, Community Housing Capital and Enterprise Housing Credit Investments LLC and with the cooperation of the residents of Randle Hill, who ECD worked with to ensure no one was displaced during renovations.
Construction financing included $25 million in bonds from DCHFA and a $26.5 million loan from Bank of America. Additional financing included $17.3 million from DCHFA’s HUD Risk Share program, $13 million from District’s Housing Production Trust Fund program, a $650,000 predevelopment loan from Neighborworks Capital, and $15.3 million in Low-Income Housing Tax Credit equity from Enterprise Housing Credit Investments, LLC, to support this development on behalf of Bank of America. Community Housing Capital provided an initial acquisition loan of nearly $17.8 million.
Renovations to the nine-building complex’s one-, two- and three-bedroom units include updated kitchens and bathrooms, new HVAC units, enhanced light fixtures, and energy efficient features built to Enterprise Green Community’s standards.
In addition, ECD’s signature suite of on-site resident services including workforce development, case management, educational and financial literacy programs and other essential services that offer opportunities for upward mobility for residents are being provided thanks to funding from TD Bank.
ECD’s preservation of Randle Hill is part of the company’s larger efforts to reimagine affordable housing that was originally built more than 50 years ago in areas where new construction is pricing out residents and making the housing gap even wider, including Southeast DC. In addition to Randle Hill, ECD’s portfolio includes Meadowbrook Run, a 25-building affordable housing community with 259 units located next door.
The architect for Randle Hill was Associates Architects. The general contractor was Hamel Builders and Wiencek.
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