DCHFA Provides $78M in Financing for Development of The Residences at Kenilworth Park in Washington, D.C.

by Jeff Shaw

WASHINGTON, D.C. — The District of Columbia Housing Finance Agency (DCHFA) is funding the construction of The Residences at Kenilworth Park, an affordable assisted living community in Washington, D.C’s Ward 7.

DCHFA issued $58 million in bond financing and underwrote $20 million in four percent Low Income Housing Tax Credit (LIHTC) financing for the 157-unit development.

Apartments at The Residences at Kenilworth Park will be reserved for seniors age 60 and above who require assistance with two or more activities of daily living. Residents must earn 60 percent or less of the annual median income (AMI), and includes Medicaid recipients.

National Foundation for Affordable Housing Solutions, Inc., Gragg Cardona Partners, The Carding Group and HallBridge Partners make up the development team constructing the five-story building. Total development costs are estimated at $85 million.

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