WASHINGTON (WDVM) – Mayor Muriel Bowser is kicking off the release of the Consolidated Request for Proposals (RFP) for affordable housing projects which will include $400 million in Housing Production Trust Funds (HPTF) at 11 a.m. Thursday.
There will be a $100 million annual investment towards HPTF, according to Mayor Bowser, and she has been contributing that annual investment for the past six years. With the previous investments and the one-time $400 million contribution, the total is a $1 billion investment from Mayor Bowser towards HPTF.
Goals in the 2019 Housing Equity Report can be reached with the HPTF investment. By 2025, the goal is to reach 36,000 new homes.
Speakers at the Thursday morning event included:
- D.C. Mayor Muriel Bowser
- John Falcicchio, Deputy Mayor for Planning and Economic Development
- Polly Donaldson, Director, Department of Housing and Community Development
- Jair Lynch, President and CEO of Jair Lynch Real Estate Partners
“I promised we would make big investments in our Housing Production Trust Fund – and at $1 billion since 2015, that’s exactly what we’ve done,” said Mayor Bowser. “But now there’s more work to do and more housing to build. We were proud to make Washington, DC the first city in the nation to set affordable housing targets by neighborhood, and now we’re calling our housing partners to use these historic investments to help us achieve those goals.”
Deputy Mayor for Planning and Economic Development, John Falcicchio, discussed what the $400 million investment would accomplish.
“Fueled by this $400 million investment, Mayor Bowser has now invested $1 billion into our most powerful tool to build and preserve affordable housing – the Housing Production Trust Fund,” said Falcicchio. “We’re continuing to build off of making DC the first in the nation to set affordable housing goals by neighborhood and look forward to giving even more residents a fair shot.”
The District is prioritizing place-based projects and equitable and inclusive housing expansion, according to Department of Housing and Community Development (DHCD) Director Polly Donaldson. Some of those expansions would include Family-oriented units, Permanent Supportive Housing (PSH), housing for people with mixed-incomes and housing for seniors and people with disabilities.
“With this RFP, we’re making very clear what we want to see in exchange for gap financing from the District,” said Department of Housing and Community Development (DHCD) Director Polly Donaldson. “Deeply affordable, shovel ready projects, in high opportunity areas, that help our achieve our goals”.