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NHT Communities, IBF Development, DC Mayor's Office and Partners Join in Effort
WASHINGTON, DC, UNITED STATES, April 14, 2022 /EINPresswire.com / -- DC now has a new affordable housing community with the opening of Liberty Place in the Mt Vernon Triangle neighborhood. On April 12, this addition was celebrated with a ribbon-cutting ceremony attended by the developers and their partners, the DC Mayors Office and members of the community.
Liberty Place was developed to fulfill the vision of Mount Carmel Baptist Church to bring affordable housing to its rapidly changing community. It is a joint-venture development by NHT Communities and IBF Development. Liberty Place provides 71 affordable units serving households with incomes below 80%, 50%, and 30% of area median income. There are additional set asides for residents with limited mobility as well as permanent supportive housing for formerly homeless households. The nine-story, 64,211 square foot building meets LEED Gold certification from the U.S Green Building Council, and includes amenities such as a fitness center, bike room, lobby, and penthouse-level community room and patio.
The project received significant financial support from the DC Mayor's Office, including DC Housing Finance Agency, DC Department of Housing and Community Development, DC Department of Behavioral Health, DC Sustainable Energy Utility, and DC Housing Authority. Financial backing was also provided by Truist Community Capital, Freddie Mac, the Institute for Community Economics (ICE), and Federal Home Loan Bank of Atlanta. Partners in the development effort included Grimm + Parker Architects, AMT, LLC, Hamel Builders, Edgewood Management, Klein Hornig, and JDC Corporation. Additional support was also provided through a joint venture of the Wilkes Company and Quadrangle Development Corporation.
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About NHT Communities and National Housing Trust
NHT Communities is the real estate development arm of National Housing Trust (NHT). NHT protects, improves and maintains existing affordable housing so that low-income families can live in quality neighborhoods with access to opportunities. NHT is the only national nonprofit engaged in affordable housing preservation through real estate development, lending, public policy initiatives, and sustainability solutions. NHT engages in policy work in all 50 states and owns over 4,000 units of multifamily housing across 10 states and the District of Columbia. Since its inception, NHT has preserved and improved more than 36,000 affordable homes through real estate development, lending, and technical assistance.
Kelvin Martinez
National Housing Trust
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