最新蜜桃影像

最新蜜桃影像
The Faircliff is nearing its completion to open in Columbia Heights this December. (Lillian Juarez / 最新蜜桃影像).

New development in Columbia Heights adds to affordable housing demand

A 125-unit affordable housing project, The Faircliff, is slated for a December completion after breaking ground in January last year near Euclid Street.

After years of anticipation, , a 125-unit affordable housing project in Columbia Heights, is slated for completion this December, adding to the neighborhood鈥檚 growing demand for apartment affordability.

The Faircliff property is under construction at 2641 14th St. NW in Washington D.C. and will replace the 80-unit Section 8 apartment building, , established in 2002. Crescent Communities constructed the $110.3 million project as a collaboration between Somerset Development Company, and .

鈥淲e are preserving the existing affordable housing for those who are already there [and] we are building new affordable housing for folks to be able to afford to live in the community,鈥 Somerset development director Patrick McAnaney said. 鈥淲e鈥檙e also building market-rate housing for people who do not qualify for [the threshold].鈥

According to McAnaney, the new development has been a long-awaited project since the company acquired Faircliff Plaza East 22 years ago, Somerset鈥檚 first affordable housing project. While construction for the eight-story apartment complex didn鈥檛 break ground until January of last year, the vision for The Faircliff began a 鈥渧ery, very long time ago,鈥 when the company purchased the property as an affordable housing preservation and renovation project they would build on long term.听

鈥淚t鈥檚 projects like this that demonstrate that a clean, green, and inclusive future is not some faraway destination we talk about; it is already here,鈥 said Jean Nelson-Houpert, Interim CEO and chief financial officer of .

The recently developed apartment complex comprises 125 new affordable rental units available to households with an income at or 50% below the median household income. For D.C., that鈥檚 a comfortable $101,027 median household income, a quarter more than the national average, according to census data.

 

The Faircliff is slated for completion at 2641 14th St. NW. (Photo courtesy of Somerset Development Company).

A look inside The Faircliff

Multiple construction workers continue to assemble the $110 million project.

The 145,000-square-foot Faircliff building was designed by Eric Colbert and built by John Moriarty & Associates. The complex offers communal spaces for participating in the Communities of Opportunity program, a courtyard with a playground, community kitchen, learning library, gym, rooftop space, community garden, and free Wi-Fi.听

It also aims to be an eco-friendly building with an all-electric design and green strategies like carbon-injected concrete to capture over 1.1 million of carbon and a green roof with a 67kW solar system.

Financing for the development was made through public and private resources including a $49.3 million in tax-exempt bonds from the , a $16.9 million loan from the and $440,000 of annual rental subsidy from the , according to Jonathan Rose Companies

In 2021, residents of Faircliff Plaza East unanimously voted to move forward with the project and were temporarily relocated throughout the DMV based on their preference. Around 60 residents have already selected to return to living at The Faircliff.

鈥淸We鈥檙e] trying to help preserve existing affordable housing 鈥 we view this as essentially continuing our commitment to the neighborhood [and] showing what new possibilities can come,鈥 McAnaney said.

Affordability in Columbia Heights

Maintaining affordable housing in an area historically known for its economic appeal is key to attracting a continuum of residents to the neighborhood and keeping them, McAnaney said. However, maintaining this mission is becoming more challenging as high rent prices continue to increase throughout the district.

鈥淲e look forward to increasing affordability in a neighborhood that continues to rapidly expand and ensure its residents are able to stay and grow in this area for years to come,鈥 Jenny Wu, managing director of development at Jonathan Rose Companies said in a statement.

This data represents categories of low income renters in the District of Columbia. Sourced from National Low Income Housing Coalition and 2022 ACS PUMS.

 

According to the , there is a shortage of affordable rental homes in the District for those at or below the poverty guidelines.

鈥淒.C. definitely used to be more affordable, and as time has gone on, it鈥檚 definitely not,鈥 said Nelson Fuentes, a realtor for Keller Williams Capital Properties.

In an interview with Fuentes, he said that in terms of what Columbia has to offer, which is retail, local vendors, restaurants and fitness studios, the neighborhood offers the most affordable living in the district. The D.C. native also added how recent neighborhood development is adding to its value, compared to where it was nearly 10 to 15 years ago.

鈥淚t鈥檚 been such a long journey. We kind of had our very first projects when we started the company back in 2002 of thinking [what] this could eventually become,鈥 McAnaney said. 鈥… To see that [this is] coming to fruition is incredibly exciting.鈥

Lillian Juarez

Lillian Juarez covers the Columbia Heights neighborhood for 最新蜜桃影像. Formerly, she was a news editor for Advocate magazine in Dallas, a non-profit publication where she covered business, breaking news and real estate. She also was on the news and life desk for The Shorthorn, UTA's student newspaper, and covered local government and business for the city of Arlington Texas.

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