The NHP Foundation (NHPF) recently opened its 13th affordable housing development in Washington, D.C.
The nonprofit partnered with Legacy Real Estate Development on 17 Mississippi Apartments, which offers a mix of 41 studio, one-, two-, and three-bedroom units to families and individuals.
Nine apartments are permanent supportive housing for people who are experiencing homelessness or are in need of mental health support. Another nine residences have a preference for income-qualified artists.
Funding for the $22.9 million development included $9.1 million from the D.C. Department of Housing and Community Development’s (DHCD’s) Housing Production Trust Fund, with Citi Community Capital providing $4.3 million in permanent debt, and $8.8 million in 4% low-income housing tax credits provided by WNC. LISC (Local Initiatives Support Corp.) DC provided a $2.1 million predevelopment loan.
Eric Price, NHPF president, acknowledged the role that DHCD’s Housing Production Trust Fund had in creating 17 Mississippi, adding, “We’re proud to be part of mayor [Muriel] Bowser’s promise to create 36,000 units of housing—including at least 12,000 units of affordable housing—by 2025.
Of the service-enriched housing, Legacy chairman Donahue Peebles lll said, “Affordable housing is a key component in providing for socioeconomic mobility, particularly in economically disenfranchised communities. Public-private partnerships, like 17 Mississippi, allow us to build more equitable communities, and, as we open doors here today, we will continue to seek out additional opportunities throughout the city.”