As Co-Developer/Co-Owner, Dantes Partners identified and closed the acquisition financing as well as structured and secured a wide array of financing including equity from the sale of 4% low income housing tax credits, HOME funds via the District of Columbia DHCD, Tax-Exempt Bonds, and Seller Financing. Roadside Development and Dantes Partners developed a 90 unit senior housing development that rests on top of a 75,000 sq ft Giant Food store located on the prominent corner of 7th and P Street, NW. Meeting the District’s affordable housing priorities of elderly housing, the units target seniors 55 years and older earning no more than 60% of AMI.
7th and P/8th and O Streets NW
Fast Facts
- 90 Units
- $28 M Total Development Cost
- Completed 2014
- Financed with 4% Tax Credits, Tax-Exempt Bonds, HOME Funds, Seller Financing and Deferred Developer Fee
- Active Adult Community for age 55+
- 60% AMI and below
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