With nonprofit home builder Mi Casa already at work on their first units, DC Habitat for Humanity President Kent Adcock confirms that the Ivy City overhaul is on track to move into the second phase of development: 8 duplexes along Providence Street, NE. Adcock is not definitive about the completion time-line for the project, saying his organization will start with three duplexes but anticipates staying in Ivy city for three years, ultimately placing “30 to 35 families in these homes.”
In the meantime, northeast residents can stay up-to-date on project developments by attending the DC Department of Housing and Community Development (DHCD) public hearing on May 6th at the Housing Resource Center on the first floor of 1800 Martin Luther King Jr. Ave. SE.
In addition to getting a sneak peak at what Habitat has planned for 1817 Providence Street, NE, DHCD Senior Public Information Officer Angelita Colón-Francia says that first-time homeowners can attend the meeting to learn about purchasing options.
As Adcock explains, the majority of “the families we’re serving are below 30% AMI - for a family of four, that’s $30-31,000 max.” The sale of the first homes will guarantee that “no one should have to pay more than 25% of their income at 0% interest” to own a home. By acting as their own bank, Habitat can sell their homes at cost to area families.
It also helps that, according to DHCD’s Ivy City Special Demonstration Project web site, the District is subsidizing the acquisition price for each property. "The request for proposals committed $3 million in gap financing to the developers through DHCD. There is limited profit gain for the developers involved; therefore, the District’s commitment to provide gap financing is essential for the developers to complete the project.”
According to Adcock, Habitat is in the midst of “negotiating on an additional 15 lots with the District and 5 rehabs” on top of their current 8 home projects. He says we could see as many as 30 Habitat buildings and “full gut rehab” jobs coming to Ivy City before Habitat’s ready to call their portion of the Ivy City Special Demonstration Project a wrap. These next phases will sell at up to 80% AMI to bring a mixed-income vibe to the neighborhood.
In typical Habitat fashion, future residents will be invited to help build their own homes. Habitat has been working with Trinity Baptist Church and local ANC Commissioners to reach these potential homeowners.
“I think this project is just a demonstration about how collaboration and partnership really works,” says Adcock proudly. “In and of ourselves, we’d have trouble getting into a part of the District like Ivy City, but because the District jumped into help, we’ll really be able to help rehab and turn a part of the city around.”
Washington, DC Real Estate and Development News