Celebrating the Financial Closing of Mass Place Apartments in Washington, D.C.
National Housing Trust - Enterprise Preservation Corporation is celebrating the closing of Mass Place Apartments in Washington, D.C. The project will involve the renovation of a high-rise building, originally constructed in 1965, to preserve 160 affordable units for families. The property is located just north of downtown Washington with strong access to employment and transportation. NHT Enterprise will organize educational resident events and services on language, employment programs, health and personal safety.
The DC Housing Finance Agency is providing $18.5 million in bonds, and TD Bank is providing $16 million in construction financing. Permanent Financing will include $16 million from Bellwether Enterprise and over $10.7 million from the District’s Department of Housing and Community Development. Enterprise is excited to provide $8.6 million in equity toward this project.