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The District of Columbia Housing Authority, Mayor Muriel Bowser, D.C. Department of Housing and Community Development, D.C. Housing Finance Agency and development partners celebrated the end of the first phase of the massive rehabilitation of the long vacant Parkway Overlook Apartments property which will bring 220 affordable units, new jobs, and economic development to Ward 8 and all of D.C.’s residents.   

”My Administration has made affordable housing a top priority, whether by building it, preserving it, or bringing it back to life like at Parkway Overlook,” said Mayor Bowser. “With the right investments, we know we can provide housing that serves families of all sizes to ensure a prosperous and inclusive D.C.”

“Once again, working with our city and community partners, we were able to bring this affordable community back to former residents and their families and a whole new generation of Washingtonians,” said DCHA Executive Director Tyrone Garrett. “DCHA self-developed this property, an exciting and transformational milestone for the agency, and included a solar array for energy efficiency and extra sustainability, making it the largest solar project in the District.”

The $82.2 million gut rehabilitation of the complex, located at 2841 Robinson Place, S.E. near the Congress Heights Metro station, will deliver a total of 220 units that will be comprised of one-, two-, and three-bedrooms, all of which will be affordable to households making up to 50 percent of the area median income or about $58,600 for a family of four. Eleven units will be available for households at or below $35,150 (30 percent of Area Median Income) and will be set-aside as permanent supportive housing. The project also includes 13 units that will be handicapped accessible. Training and classes in workforce development, financial literacy, and after-school activities will be offered based on community needs.

DCHA undertook all development responsibilities for the project, from overseeing design and construction, to structuring all financing, and providing the financial guarantees for the project. While this role typically is undertaken by private developers, DCHA can deliver benefits to both the project and the agency by maintaining control over the property and generating development fees that can be used to further its mission of creating affordable housing in the District of Columbia.

“I'm thanking God right now. 220 apartments 100 percent of them affordable for poor, working class, and moderate-income families will begin opening up this week.  Multiple families that lived here a decade ago with me, will be returning to this hallowed ground,” said Cynthia Eaglin, co-president of the Parkway Overlook Tenants Association.

Co-President of the Parkway Overlook Tenants Association Rufaro Jenkins said, “As a Native Washingtonian, I know that it took faith, perseverance, commitment, organizing, and action in order for us to witness the memorable moment of a ribbon cutting at Parkway Overlook. I am happy to see the vision of something I truly believe, which is ‘Being a part of Poverty gives me/you the right to be a part of Prosperity.’ To God be the glory for this great thing He has done.”

DHCD provided $20.1 million in Housing Production Trust Fund financing towards the project. DCHFA provided bond financing in the amount of $38,041,000 and Low Income Housing Tax Credits that will generate $29,674,119 in equity. Wells Fargo is a partner in the transaction providing the construction and permanent debt, as well as a low income housing tax credit and solar tax credit equity investment.

“Two things Wells Fargo believes in strongly – improving lives and strengthening communities,” said John A. Allen, Wells Fargo Region Bank President in Greater Washington, DC. “We are proud to partner with others to make affordable housing and economic development a reality in Ward 8. To the new residents of Parkway Overlook – welcome home!”

The DCHA Board of Commissioners approved using 55 project-based vouchers for the complex. Project-based vouchers provide a subsidy that stays with the building and does not travel with the renter.

The DCHA Board of Commissioners approved using Solar for All grant monies towards the project. The D.C. Department of Energy and Environment awarded a total of $5 million to DCHA for use on various properties, as part of a larger program that aims to reduce electric bills by 50 percent in some 100,000 low-income District households by 2032. The Parkway Overlook project design includes over 2,500 solar panels and battery storage that will allow the property to continue functioning in the event of an extended power outage. The solar panels and battery storage will cost an estimated $2.7 million. The solar panels, which will generate enough energy to support 50 percent of the energy consumption of the property, will be located on the rooftops as well as in a solar farm on the property.

The entire complex underwent a gut renovation and received new heating and cooling system, appliances, electrical systems, kitchens, and bathrooms. The leasing office was moved to a more welcoming location directly on Robinson Place, and the community building was upgraded to include a fitness room, business center, resident lounge, and study lounge.

 

 

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Rufaro Jenkins and Cynthia Eaglin
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DCHA Executive Director Tyrone Garrett
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Mayor Muriel Bowser
Last modified: 4/26/2019 3:32:56 PM