Hampshire Apartments
About the project
Established in 1974, Wesley Housing Development Corporation (WHDC) was founded in an effort to serve populations with few or no viable options for decent, affordable housing, including low and moderate-income families, older adults, and individuals with disabilities. Having invested in over 1,780 units of affordable housing thus far, WHDC aims to build people up one home at a time.
WHDC is headquartered in Alexandria, VA, and has served 25 communities in Northern Virginia and Washington, D.C.
LISC provided WHDC with $6,770,000 in acquisition funding, which will help to finance the purchase and revitalization of the Hampshire Apartment complex, acting as a development partner chosen by the Tenant's Association through D.C.'s Tenant Opportunity to Purchase Act (TOPA). The rehabilitation plan will consist of a combination of production and preservation, including the addition of three new units, modernization of the existing units, creation of a community room, and various “green” upgrades such as a solar energy system and high-efficiency LED lighting.
Partner:
Wesley Housing Development Corporation
Location:
Washington, D.C.
Total Investment:
$6.77 million
Results:
53 units
Project Category:
Affordable Housing
Product:
Acquisition loan
Website:
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