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Fenty Holds Ribbon-Cutting Ceremony for New R Street Apartments

Friday, April 17, 2009
Fenty Holds Ribbon-Cutting Ceremony for New R Street Apartments

(Washington, DC) – Mayor Adrian M. Fenty today joined Councilmember Jack Evans (Ward 2), residents, neighbors, community developers, and other city officials to celebrate the re-opening of R Street Apartments, a newly renovated apartment complex featuring 124 affordable rental homes in the Logan Circle neighborhood.

“The residents of Logan Circle deserve 21st century affordable housing,” said Mayor Fenty. “The new R Street Apartments are not only affordable, but they serve as an example of yet another green, high-performing building in the District of Columbia,” said Mayor Fenty.

The renovation process for R Street Apartments resulted in several new “green” features:

  • solar reflective roofs
  • kitchens and bathrooms with energy star appliances and low-flow water fixtures
  • rain barrels to harvest water
  • energy-efficient indoor climate control system

The building also has an upgraded security system, open meeting spaces, Americans with Disabilities Act (ADA) accessible units and free high-speed wireless internet access for all residents. R Street Apartments was renovated at a cost of nearly $8 million.

The District of Columbia was a major source of funding for the acquisition and renovation of 124 affordable units in five historic buildings located on the 1400 block of R Street, NW. The District Department of Housing and Community Development (DHCD), who facilitates the production and preservation of affordable housing, community, and economic development opportunities, committed $6.5 million for the acquisition of the property.

Additionally, the District of Columbia Housing Finance Authority, which works to stimulate and expand rental housing and homeownership opportunities, issued more than $12.3 million in tax exempt bonds for renovation and construction, $8.9 million of which went towards permanent financing for the project. DCHA managed the property’s transition to Enhanced Housing Choice Vouchers, which enabled residents to remain in their renovated community with continued rent subsidy support, while also providing the property the revenue needed to operate, repay lenders and ultimately fund the tenant association’s resident programs.

Private partners on the project include MMA Financial, a leader in multifamily housing finance and provider of capital solutions for real estate developers and owners, purchased over $8.9 million in tax exempt bonds issued by DCHFA invested $7.4 million in LIHTC and Historic Tax Credits. Green Communities, the first national green building program developed for affordable housing with a focus on the use of environmentally sustainable materials, reduction of negative environmental impacts and increased energy efficiency, provided a $50,000 grant towards the incorporation of green materials and design to the project.

Media Contacts

  • Sean Madigan, (202) 615-2029

  • Feras Sleiman, (202) 251-8829