Navy Yard ranks as the fastest-growing neighborhood in Washington, D.C. To help keep it affordable, the District of Columbia Housing Finance Agency (DCHFA) has issued $55 million in order to reserve 53 of the 264 apartments for affordable housing at the mixed-use, 11-story site at 227 Tingey Street SE. The units will be for households earning up to 50 percent of the area median income.
According to a press release, the affordable units will be interspersed with the market-rate units. The site, known as Estate, is the fifth component of The Yards. Once complete, the mixed-use building will bring studios as well as one- and two-bedroom units to the neighborhood. Amenities will include a below-grade parking garage, bicycle storage and repair station, and a fitness center. The project is expected to be LEED Silver certified when finished. The developer behind the project is EPDL, LLC.
In a statement, DCHFA Executive Director and CEO Todd A. Lee said, “DCHFA has been a key investor in The Yards, one of the District’s most transformative neighborhoods. We are committed to ensuring that this area is not exclusive to residents that are among the District’s highest income earners.”