HAND Housing Achievement Award Winner Spotlight: 32 Thirty-Two Apartments, Best Large Affordable Housing Project
Even though it’s called 32 Thirty-Two Apartments, this six-story mixed-used building has its front door on Lamont Street, NW. With 69 apartments and 10,560 square feet of retail space on the bottom floor, this $22.6 million rehab is a prime example of a community in the heart of Washington, DC. that meets the ever-pressing need for affordable housing.
In addition to providing quality housing, developers and partners Mi Casa, Neighborhood Development Group and Grimm + Parker also decided that 32 Thirty-Two Apartments would be a testament to sustainability. With two green roofs, energy-efficient building techniques and appliances, the project’s green features help to reduce the building’s reliance on electricity, natural gas and water and exceeds DC’s Green Communities requirements.
The development team used a creative mix of financing sources by accessing 4% tax credits and tax-exempt bonds; and combining HOME funds, the Neighborhood Investment Fund, Great Street grants and DC Sustainable Energy Utility funds for gap financing. Enterprise Community Partners also provided bridge financing through the District’s Site Acquisition Financing Initiative program.
To find out more about this great property, check out http://www.32thirtytwoapartments.com and make sure to join us for the Housing Achievement Awards Luncheon June 16th #HANDAM2014