The Project:
The 700 H Street projects consists of 150 service enriched studio and one-bedroom units with affordability levels ranging from 30-50% Area Median Income. Half of these units will be reserved for formerly homeless individuals. Total project cost is $44.8 million and funded through $22.4 million in local subsidy, $18.75 million in Low Income Housing Tax Credits and $2.8 million in federal grants.
DSP Position:
The DSP Executive Committee fully supported the project and financing plan, consistent with the City’s SRO Strategy and 10-year plan to end chronic homelessness as well as DSP priorities of mixed-use development and the decentralization of SRO units.
Key Dates:
- Expected Completion: December 2012
- Approved by City Council: June 2010
- Approved by DSP Executive Committee: June 2010
- Proposed: February 2009
