Affordable Housing Preservation in DCHarry D. Sewell, Executive Director and CEODistrict of Columbia Housing Finance Agency

AFTER: The Overlook at Oxon Run

District of Columbia Housing Finance AgencyNALHFA Conference – Affordable Housing Preservation – 5.20.11 3

The Overlook at Oxon Run316 units (1 BR and 2 BR)

Financing: $73.5 million Total Development Cost $36.8 million – tax-exempt bonds $26.6 million – 4% LIHTC – equity retired

$13 million of bonds $21 million – DHCD loan (local trust fund) Deferred developer fee

Development Team: Community Preservation Development Company (CPDC) and Crawford Edgewood Managers, Inc. (CEMI)

Computer room

District of Columbia Housing Finance AgencyNALHFA Conference – Affordable Housing Preservation – 5.20.11 4

Hubbard Place(230 units (Eff, 1BR, 2 BR) w/ground floor retail)

Developer: Somerset Development Company Partnership with DC Dept. of Human Services Financing

$42 million – Total Development Cost $25.0 million – Tax-exempt bonds $14.8 million – 4% LIHTC (equity retired $10

million of bonds $8.5 million – DHCD loan (local trust fund) Deferred developer’s fee

Black Lion

Courtyard Laundry