City Officials and Community Leaders to Break Ground for New Affordable Housing
Courtesy of the Matthews Memorial Baptist Church | 10/15/2010, 12:34 p.m.
The Matthews Memorial Baptist Church of Southeast D.C. Construction East of the River in Ward 8
New Development and Community Center Serving Local Seniors, Families and Individuals Marks Next Step Toward Neighborhood Revitalization Goals
Matthews Memorial Baptist Church, city officials, community leaders, development and finance partners and residents are broke ground on October 8, 2010, for Matthews Memorial Terrace, an innovative new affordable housing rental development for seniors, working families and individuals in Anacostia.
"Matthews Memorial Baptist Church has taken a leadership role in Ward 8, in both the faith community and, now, in providing affordable housing. This project will provide additional replacement public housing to move us closer to revitalizing Barry Farm as part of the District's New Communities Initiative.
This comprehensive program is designed to improve the quality of life for families and individuals living in Ward 8," said Mayor Adrian M. Fenty. "We are pleased to work with Matthews Memorial in this ongoing work to transform highly concentrated low-income neighborhoods into healthy mixed-income communities."
As part of the neighborhood's Barry Farm/Park Chester/Wade Road redevelopment plan, Matthews Memorial Terrace helps to meet the goals of the District's New Communities initiative, implemented by the Office of the Deputy Mayor for Planning and Economic Development. The new development also supports the City's Green Communities and Great Streets initiatives.
A joint venture of The Community Builders, Inc. (TCB) and Creative Opportunities Ventures, Inc. (COVI) - the development arm of Matthews Memorial Baptist Church, Matthews Memorial Terrace is situated on property owned by and adjacent to Matthews Memorial Baptist Church. Matthews Memorial Terrace responds to community needs by making use of underutilized land to provide safe, affordable housing, while helping to revitalize the local neighborhood.
"The Matthews Memorial Terrace development along with our Matthews Memorial Baptist Church's Community Service Building is a realization of the church's vision coming to fruition as a part of our blessed community's transformational process," said Bishop C. Matthew Hudson, Jr., Matthews Memorial Baptist Church and President/CEO Creative Opportunity Ventures, Inc.
"This vision that was given to the church is a divinely inspired portrait of possibilities fueled by God's power, for God's purpose, through God's people, for God's glory."
"TCB's Mid-Atlantic operations are headquartered in the nation's capital; we strive every day to fulfill our mission of helping people of all incomes achieve their full potential here in our hometown," said Rob Fossi, VP for TCB.
"The opportunity to work shoulder to shoulder with extraordinary partners like COVI, as well as the DC Housing Authority, DCHFA, the Deputy Mayor's Office, DC Council, Capital One Bank and Redstone, has once again borne out our faith that the District is unparalleled in providing creative, effective means to deliver quality, affordable housing that benefits citizens from all walks of life. It is a privilege to congregate today with these partners, and we look forward to redoubling our efforts throughout this great city moving forward."
The $22.5 million new construction development was financed in part by debt and equity investments purchased by Capital One Bank through tax-exempt bonds and 4% Low Income Housing Tax Credits issued by the DC Housing Finance Agency.
The remainder of the financing was provided by loans from the Office of the Deputy Mayor for Planning and Economic Development and the District of Columbia Housing Authority, and a grant from the Office of the Deputy Mayor for Planning and Economic Development as part of their New Communities Initiative.
"At Capital One Bank, we are proud to support this important development for Southeast Washington and help our community take these important steps toward neighborhood transformation and revitalization," said Adam Ostrach, District of Columbia Market President for Capital One Bank. "Whether it's inside our local branches or out in the community, Capital One Bank is committed to investing for good in our hometown and working with our partners to help this great city prosper and grow."
"Matthews Memorial Terrace will provide much needed additional affordable housing in Ward 8. DCHA is investing more than $6.8 million in capital funding and the long term operating subsidy to sustain the 35 public housing units that will be part of the development," said Adrianne Todman, Interim Executive Director of the DC Housing Authority.
"DCHA received more than $30 million in competitive stimulus grants from HUD to build or improve the affordable housing supply in the nation's capital, and we are delighted to join the other public and private entities in this powerful partnership."
The 99-unit Matthews Memorial Terrace will consist of one, two and three-bedroom apartments located in a five-level, elevator-serviced building that will include a 52-space underground parking structure. The residential building will house three different populations: seniors (ages 62 and above), residents qualifying for public housing and those with incomes up to 60% of the area median income.
Approximately one-third of the residential units are designated for each population. To maximize the mobility of senior residents, their housing will occupy the entire terrace level of the building and approximately half of the ground floor level.
Building amenities will include a community room, a meeting room with kitchen facilities, and a terrace level courtyard that will function as a green roof over the parking structure, Energy Star-rated kitchen appliances and HVAC for heating and cooling.
In addition, the site is located on major transit routes, with bus stops at the site, and it is within walking distance of the Anacostia Metro station, which meets the Smart Growth aspects of green development. The building will also meet the requirements for a U.S. Green Building Council LEED Silver Certification.
In addition, a detached Community Service Building will house tenant and neighborhood services, including tax credit compliance assistance, and senior and family supportive services to be provided by the Matthews Memorial Baptist Church through its nonprofit 501c3 Social Service Subsidiary Agency, Urban Family's House of Hope, Inc. and Senior Citizens Program.