Celebrating the Financial Closing of Diane’s House in Washington, D.C.
Flaherty & Collins Properties and Diane’s House Ministries are celebrating the financial closing of Diane’s House in Washington, DC. This development will create 42 homes for individuals at risk for homelessness. Community Connections will assist in the transition to independent living, in addition to providing financial management, housekeeping, and case management services. The District of Columbia Housing Authority is providing 39 project-based vouchers to low-income residents. Diane’s House is located in northeast DC in close proximity to community resources, grocery, and employment opportunities. Public bus routes are within a block of the site.
Merchants Capital is providing $8.25 million of Construction Financing and $4.9 million of Permanent Financing through the Freddie Mac Targeted Affordable Housing loan program. Enterprise is thrilled to be able to provide $6.8 million of equity to this important development.