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Foggy Bottom Library Lacks Funds for Affordable Homes

The West End Library will break ground this November for a new building and new location as part of the West End Project. With housing costs up in 2014, the plan for $7 million to be used for subsidized housing can now only provide a minimum of 25 affordable units as opposed to the planned 52. Plans from December 2012 ensured that the $7 million would be eligible for roughly $4.5 million of Low Income Housing Tax Credits. Now, with a $3.9 million gap, the developer says he commits "to diligently pursue additional public funding to finance construction of additional units." There are hopes for the gap in funding to be filled by the Housing Production Trust Fund. If approved, the tax credit equity would be roughly $75, enough to cover 55 affordable units.

The planned 20,640-square-foot library will include 7,300-square-feet of retail, topped by 71 condos and 93 rentals in Foggy Bottom. The mixed-use project has been in the planning stages for some time now, currently in its seventh year and second iteration. The West End Project project as a whole totals to $150 million and includes the transfer of Engine Co. 1 and the Metropolitan Police Department's former special operations division. The library is planned to transfer to 1101 24th Street, NW and is currently located at 2522 Virginia Avenue, NW.
· Transfer nearly complete: EastBanc, D.C. expected to start West End overhaul in November [Washington Business Journal]
- Michelle Goldchain