FINANCING CLOSES FOR REHA...

FINANCING CLOSES FOR REHABILITATION & MODERNIZATION OF 178-UNIT TOWNHOME COMMUNITY

FINANCING CLOSES FOR REHABILITATION & MODERNIZATION OF 178-UNIT TOWNHOME COMMUNITY

Renovations of affordable units in Ward 8 to begin in April

WASHINGTON, D.C. [April 15, 2026] - An affiliate of the District of Columbia Housing Authority (DCHA) and DCHA development partner, Urban Atlantic Development, closed last month on the financing for the substantial renovation and modernization of Henson Ridge II, a 178-unit townhome community in Ward 8's Douglass neighborhood.

On March 17, the District of Columbia Housing Finance Agency (DCHFA) issued $40 million in tax exempt bonds, and underwrote $37.5 million in federal and $9.3 million in DC Low Income Housing Tax Credit (LIHTC) equity for the rehabilitation of Henson Ridge II, which includes townhouse units ranging in size from one- to five-bedrooms. The financing also includes the substantial renovation of the Henson Ridge community's 22 AccessiBuild homes, which were previously developed to create larger, accessible units for households with individuals with disabilities.

Other financing partners include Merchants Bank as the construction lender, Capital One as the permanent lender, and The Richman Group as the Federal equity investor, RiseImpact Capital as the DC equity investor and the District's Department of Housing and Community Development (DHCD).

"This milestone represents DCHA's ongoing commitment to providing access to affordable, modern and quality homes and fostering sustainable, vibrant communities," said DCHA Executive Director Keith Pettigrew. "This investment supports the preservation of larger bedroom affordable housing that provide families a place where their children can thrive and ensures individuals with disabilities have the safe, dignified housing that they deserve."

"DCHA is dedicated to the preservation and expansion of affordable housing," said DCHA Board Chairman Raymond Skinner. "Henson Ridge II will provide working families with high quality affordable housing that supports stability and fosters economic independence."

The rehabilitation, which began this month, will bring the affordable rental community up to modern building codes and energy standards, including installing new HVAC systems and solar panels. Other community upgrades include installing new playground equipment, renovating the leasing office and updating its IT system, upgrading the landscaping and improving the maintenance shop.

Units will be upgraded with new EnergyStar appliances, including washers and dryers, and installing new garbage disposals, alarm systems and interior finishes, including new luxury vinyl flooring. Residents will temporarily relocate to other on-site units while work on their homes is underway.

Henson Ridge II has 10 five-bedroom units, 38 four-bedroom units, 50 three-bedroom units, 28 two-bedroom units and 52 one-bedroom units. The community will continue to be fully affordable with all 178 units income restricted to residents earning 60% of area median income or less, including 114 units that will receive subsidies through Project-Based Vouchers (PBVs) administered by DCHA. Of the community's 178 units, 68 are designed for persons with mobility impairments and five are designed for persons with hearing or sight impairments.

Renovations of the 124-unit Henson Ridge I, which began last year, are expected to be complete by October 2026.

Located at Alabama Avenue Southeast near Stanton Terrace Southeast, Henson Ridge was originally built in 2003 under the U.S. Department of Housing and Urban Development (HUD) HOPE VI program and named for Tobias Henson, the former slave who acquired the 24-acre property that's now home to the rental community.

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About DC Housing Authority

The District of Columbia Housing Authority (DCHA) is committed to providing safe, affordable, and quality housing to the residents of the District of Columbia. The agency emphasizes fostering a collaborative work environment to meet the highest expectations of the affordable housing industry. With a focus on innovation and community development, DCHA strives to improve the lives of individuals and families by creating sustainable and thriving communities. Learn more at our website about DCHA and the work that the agency is doing to impact the residents of Washington, D.C.

Last Updated on April 15, 2026