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Affordable Housing Preservation Project in Washington, D.C. Receives $22 Million in Financing via Walker & Dunlop
February 16, 2021 GMT
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BETHESDA, Md., Feb. 16, 2021 /PRNewswire/ Walker & Dunlop, Inc. announced today that it structured $21,900,000 in financing for the acquisition and substantial renovation of an existing 42-unit affordable housing property with an additional four new construction units. The property, Ritch Homes Apartments, is located in Washington, D.C., one of the most high-cost markets in the country. All of the property’s units were previously subject to a Section 8 HAP contract that was at risk of expiring and threatened this project’s affordability. Together, with the United States Department of Housing and Urban Development (HUD), the D.C. Housing Finance Agency (DHCFA), and Walker & Dunlop, the sponsor, Standard Communities, ....

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