Links Mortgage Success Stories

2011: Gibson Plaza

Non-Profit owner:
First Rising Mount Zion Baptist Church Housing Corporation, Inc.

Gibson Plaza Apartments
217 family/senior low and moderate income units
1301 7th Street NW, Washington DC 20001
Ward 2

Total Development Cost: $32,510,883. HUD insurance via the 221(d) (3) program, HUD Green Retrofit program contribution $2,047,333. HUD Loan $22,301,800 with Section 8. $6.8 million District of Columbia Housing Authority. District of Columbia Department of the Environment contribution $1.1 million.

Gibson Plaza in the news.

2009: Allen House Apartments

Non-Profit owner:
Upper Room Housing Corporation

Allen House Apartments
97 senior low and moderate income units
3760 Minnesota Ave. NE, Washington DC 20019
Ward 7

Total Development Cost: $8,512,112. Refinance under HUD Section 202/223(f) with Section 8. HUD Loan $8,102,112. District of Columbia Department of the Environment contribution $410,000.

2008: Asbury Dwellings

Non-Profit owner:
Asbury Dwellings, Inc.

Asbury Dwellings
150 senior low and moderate income units
1616 Marion St. NW, Washington DC 20001
Ward 2

Total Development Cost: $9,300,000. Refinance under HUD Section 202/223(f) with Section 8. HUD Loan $8,500,000. District of Columbia Department of the Environment contribution $800,000.

 
 

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