DCHFA closes out August by funding 67 new senior affordable apartments in Ward 8
Washington, D.C., Sept. 02, 2025 (GLOBE NEWSWIRE) -- On August 26, 2025 the District of Columbia Housing Finance Agency (DCHFA) issued $22.6 million in tax exempt bonds, underwrote $17.2 million in federal and $3.6 million in DC Low Income Housing Tax Credit equity for the construction of Wagner Senior Residences (2419 25th St SE). “DCHFA is proud to invest in the future of the Skyland neighborhood by financing affordable senior housing that meets the needs of our aging residents,” stated, Christopher E. Donald, Executive Director and CEO of the District of Columbia Housing Finance Agency. “This development reflects our commitment to equity, dignity, and opportunity—ensuring that seniors in Ward 8 can age in place within a growing community with access to the neighborhood’s new amenities.” Additional financing for the $47.6 million development includes a $18.9 million loan from the DC Department of Housing and Community Development’s Housing Production Trust Fund.
Justice Housing and the Miller Group are the developers of Wagner Senior Residences. The new development will consist of a five story building with six studio, 58 one-bedroom and three two-bedroom apartments reserved for tenants ranging from 30-80% of area median income or less. Permanent Supportive Housing program services will be provided for eligible residents/households in 13 units. Wagner Senior Residences will include an indoor and outdoor resident lounge, a fitness center, and an outdoor terrace.
Through its Multifamily Lending and Neighborhood Investment and Capital Markets divisions, DCHFA issues tax-exempt mortgage revenue bonds to lower the developers’ costs of acquiring, constructing and rehabilitating rental housing. The Agency offers private for-profit and non-profit developers low-cost predevelopment, construction and permanent financing that supports the new construction, acquisition, and rehabilitation of affordable rental housing in the District.
The District of Columbia Housing Finance Agency is an S&P AA- rated issuer, serving Washington, D.C.’s residents for more than 45 years. The Agency’s mission is to advance the District of Columbia’s housing priorities; the Agency invests in affordable housing and neighborhood development, which provides pathways for D.C. residents to transform their lives. We accomplish our mission by delivering the most efficient and effective sources of capital available in the market to finance rental housing and to create homeownership opportunities. The Agency operates from a core set of values: Leadership*Excellence*Community Focus*Integrity*Collaboration *Innovation
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Yolanda McCutchen DC Housing Finance Agency 202-777-1650 ymccutchen@dchfa.org Keme Arigbe DC Housing Finance Agency 202-777-1618 karigbe@dchfa.org
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