12/03/2019 | Press release | Distributed by Public on 12/03/2019 17:43
WC Smith held the ribbon cutting of the City View apartments today, its newest residential property, welcoming D.C. Housing Authority Executive Director Tyrone Garrett to celebrate this newest affordable housing development in Ward 8.
Formerly called Sayles Place, City View is the final element in the rebuild of the former Sheridan Terrace. The first three phases at Sheridan Station delivered 327 mixed-income, mixed-tenure units along the Suitland Parkway.
'This beautiful new building with gorgeous views and amenities is a great, affordable home for many District residents,' said DCHA Executive Director Tyrone Garrett. 'I am so pleased DCHA was able to creatively work with so many partners in order to complete the Sheridan Station community.'
City View Apartments is a 58-unit development adjacent to Sheridan Station. The building has an Energy Star roof, Energy Star windows, and energy efficient individual HVAC and hot water heaters. Kitchens feature stainless steel Energy Star appliances, including dishwashers and microwaves. Every unit has an individual washer and dryer. The site enjoys panoramic views of the Washington skyline.
City View was awarded a 9 percent LIHTC (Low Income Housing Tax Credit) allocation from D.C.'s Department of Housing and Community Development and secured commitments from SunTrust for the LIHTC equity and debt financing. WC Smith worked with DCHA to house at City View some residents who were displaced by the 2018 fire at the Arthur Capper dwellings.
Of the 58-units, 90 percent are affordable, including units for permanent supportive housing and annual contributions contracts, units for residents earning 50 percent or less of annual median income, and units for residents earning 60 percent or less of annual median income.
'The opening of City View marks an exciting new chapter for WC Smith and our residents in Ward 8,' said WC Smith CEO Chris Smith. 'We're committed to developing high quality affordable housing for all. And we thank our government and financial partners who were instrumental in helping us reach this milestone.'