DCHFA Backs $103M Ward 8 Affordable Housing Rehab with Tax-Exempt Bonds
Event summary
- $40M in tax-exempt bonds issued for 178-unit Henson Ridge rehabilitation in Ward 8's Douglass neighborhood.
- $37.5M in federal and $9.3M in DC Low Income Housing Tax Credit (LIHTC) equity underwritten.
- Project includes 64 LIHTC units and 114 project-based voucher (PBV) units, with 30% and 60% AMI income restrictions.
- Scope includes roof, window, HVAC, and kitchen/bathroom upgrades across 52 one-bedroom to 10 five-bedroom units.
The big picture
DCHFA's $103M investment in Henson Ridge reflects a strategic push to preserve affordability in Ward 8, aligning with broader municipal efforts to modernize aging housing stock. The project's mix of LIHTC and PBV units underscores the agency's role in bridging federal and local capital sources to address D.C.'s housing crisis. With an S&P AA- rating, DCHFA's ability to issue tax-exempt bonds at scale positions it as a key player in the affordable housing sector.
What we're watching
- Capital Deployment
- Whether DCHFA can sustain this scale of investment across all eight wards amid rising construction costs.
- Regulatory Compliance
- How energy standards will impact future rehabilitation projects under DCHFA's portfolio.
- Community Impact
- The pace at which similar projects materialize in historically underserved D.C. neighborhoods.
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