Aaron Wiener of Housing Complex brings us more information on this morning's announcement by Mayor Gray to invest $187 million dollars in more "affordable" housing.
Go HERE for the full article.
"The initial $100 million, says Trueblood, was largely budget-surplus money that was being dedicated to the Housing Production Trust Fund to increase and improve D.C.'s affordable housing stock. But the additional money comes from sources like D.C.'s deed transfer and recordation taxes and the federal government that were always earmarked for affordable housing. Gray's announcement this morning wasn't a promise of new funding, but rather a description of where that funding is going.
So where is it going? Below is a list of the projects that'll receive these affordable housing dollars between now and the end of the next fiscal year through the Department of Housing and Community Development. The biggest beneficiary projects are So Others Might Eat's Benning Road development (198 units), the vacant Parkway Overlook complex near Anacostia (183 units), and the Gregory Apartments in Washington Highlands (124 units)—all east of the Anacostia River—along with eight buildings currently undergoing Tenant Opportunity to Purchase Act negotiations (1,139 units)."
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