(WASHINGTON, DC) – (RealEstateRama) — Mayor Muriel Bowser today kicked off June Housing Bloom by opening the application period for the Oramenta Newsome Predevelopment Loan, a new $2 million fund to help non-profit developers secure the early capital needed to get affordable housing projects off the ground faster.
Mayor Muriel Bowser
“June Housing Bloom is about creating new opportunities and connecting residents to the programs and resources we already have available,” said Mayor Bowser. “As Washington, DC continues to grow, we’re laser-focused on remaining a city that works for all families – those who have lived here for five generations and those who are just joining us.”
Through the Oramenta Newsome Predevelopment Loan, non-profit developers can apply for up to $100,000 per project to help partially cover pre-development costs, such as architectural plans and third party reports, required by the DC Department of Housing and Community Development (DHCD) as part of its consolidated request for proposals application. DHCD and the DC Housing Finance Agency (DCHFA) are administering the fund.
In addition to opening the application period for the new fund, solicitations were also released for Certified Business Enterprises (CBEs) to develop and/or rehabilitate vacant spaces into affordable housing. Under the Vacant to Vibrant DC initiative, DHCD issued two CBE solicitations to rehabilitate 2805 4th Street, NE and 2412 Martin Luther King Jr. Avenue, SE into three affordable single-family homes.
June Housing Bloom is a month-long initiative that was launched by Mayor Bowser to showcase how the public and private sectors are partnering to produce and preserve affordable housing and revitalize neighborhoods across Washington, DC. Throughout June Housing Bloom, which is designed to complement National Homeownership Month, the Bowser Administration will hold events celebrating homeownership opportunities, the production and preservation of affordable housing units, and the transformation of vacant spaces.
Key events and announcements for the month include:
The 10th Annual DC Housing Expo and Home Show, co-hosted by the Greater Washington Urban League, on June 9. The Expo will celebrate its 10th anniversary with a number of special features, including: HGTV’s Egypt Sherrod as a special guest lecturer, under a partnership with WHUR 96.3 FM’s Achieve the Dream Campaign; George Derek Musgrove, co-author of Chocolate City: A History of Race and Democracy in the Nation’s Capital; demonstrations on tiny home living, home design, and smart home technology; and a small business marketplace.
A commencement recognition ceremony on June 8 for Partner Arms II in Ward 4, which will provide housing for chronically homeless families.
On June 8, DHCD Director Donaldson will participate in a Facebook live discussion on the Mayor’s Facebook page.
On June 12, at the 27th Annual Gala of Housing Association of Nonprofit Developers (HAND), Chris Dickersin-Prokopp, manager of DHCD’s development finance division, will be honored as an emerging leader for his work in producing and preserving affordable housing.
A public hearing on the transformation of vacant space at Florida Avenue and Q Streets, NW into mostly family-sized affordable housing on June 14.
A conservation project with Casey Trees on June 20.
DC Open Doors Homebuyers’ Informational Seminars by DCHFA on June 6 and June 20.
Homeownership Course Commencement Program by the DC Housing Authority on June 21.
DCHFA Lender’s Fair on June 23.
To learn more about June Housing Bloom events, visit dhcd.dc.gov.
Since coming into office, the Bowser Administration has sparked the creation or preservation of more than 10,800 affordable units, with more than 5,100 in preconstruction. In the Fiscal Year 2019 budget, the Mayor invested more than $1 billion toward making Washington, DC more affordable for residents in all eight wards.