The Residences at Benning Road
About the project
Gragg Cardona Partners (GCP) is a minority-led development firm that has been working in the Washington, D.C. Metropolitan Area for over two decades. GCP’s track record includes the development of over 1,100 units of rental/for sale housing, including nearly 400 affordable units, plus 71,500 square feet of new neighborhood oriented commercial space.
GCP is based in Washington D.C.
Foundation Housing is a nonprofit founded in 1990 committed to being a part of the solution to America’s affordable housing crisis. Foundation Housing is dedicated to preserving the nation’s existing assisted rental housing stock and is committed to providing its residents with better access to decent, safe and well-managed affordable housing and community programs and services.
The organization has offices in Bethesda, MD and Los Angeles, CA
LISC is providing $1.84 million in financing for the construction of the Residences at Benning Road, an Affordable Assisted Living Community (AALC) that that will deliver 157 affordable apartments and support services for Medicaid-eligible and other qualified elderly DC residents. An AALC is considered a residence that is affordable to seniors 60 years and over and for residents who need assistance with at least two “activities of daily living," defined as routine activities that people do to care for themselves.
Partner:
Gragg Cardona Partners
& Foundation Housing
Location:
Washington, D.C.
Total Investment:
$1.84 million
Results:
157 units
Project Category:
Affordable Housing
Product:
Acquisition loan
Website:
UN SDGs: