Celebrating the Financial Closing of 1164 Bladensburg
Enterprise congratulates Neighborhood Development Company and Arten Bladensburg LLC on the recent financial closing of 1164 Bladensburg, a new development in Washington, D.C. 1164 Bladensburg will provide 65 affordable homes for seniors, 13 of which will be prioritized for seniors exiting homelessness with project based vouchers provided by the District of Columbia Housing Authority.
The transit-oriented development is within close proximity to several several public transportation options and is designed with ample community space and a wellness center and fitness room.
JP Morgan Chase Bank is providing $11.1 million of construction financing and $4.5 million of permanent financing through tax exempt bonds issued by the District of Columbia Housing Finance Agency. The D.C. Department of Housing and Community Development will provide an additional $10.8 million of permanent financing from the Housing Production Trust Fund. Enterprise is pleased to provide $6.9 million of equity.