Habitat for Humanity of Washington, D.C. breaks ground on 12 new affordable homes with $1.3 Million Contribution from Level 2 Development
Developer contribution allows DC Habitat to Make Homeownership Affordable for Local Families
WASHINGTON, Oct. 7, 2016 /PRNewswire-USNewswire/ -- Next Tuesday, Oct. 11, Habitat for Humanity of Washington, D.C. (DC Habitat) and Level 2 Development (Level 2) will be joined by Mayor Muriel Bowser and community members to celebrate the groundbreaking of 12 new affordable homes in Ivy City. The event kicks off the Coalition for Nonprofit Housing and Economic Development's (CNHED) Community Development Week, a series of events highlighting the ways that Coalition members are creating a District of Columbia where all residents can thrive.
Construction of these homes is possible thanks to an innovative collaboration with Level 2 to meet a diverse range of housing needs as part of the public benefits package for the "Highline at Union Market," a new 317-unit apartment building planned in the Union Market District of Northeast D.C. In addition to providing affordable rental units in the Highline -- which is not yet under construction – Level 2 has made a $1.3 million contribution to DC Habitat to create affordable homeownership opportunities for 12 local working families making less than 50% of Area Median Income. The completed homes will feature 3 bedrooms and approximately 1,500 square feet, allowing DC Habitat and Level 2 to serve larger families in need of more space. Level 2 has committed to contributing funds for a 13th unit, which DC Habitat will build within the next 18 months.
"We are grateful to be working with DC Habitat to help build these 12 homes and create the incredible opportunity of homeownership to families in need," said David Franco, Principal and Cofounder of Level 2 Development.
DC Habitat also wishes to acknowledge the tremendous support of the PenFed Credit Union, which supplied critical acquisition financing to make the timing on this project work. They especially want to thank James Schenck, President and CEO of PenFed, for his sustained interest and unwavering support of affordable homeownership in D.C.
This marks the sixth year of DC Habitat's work in Ivy City. Since 2010, the organization has completed and rehabilitated nearly 30 homes in the neighborhood, which were all built to LEED, Earthcraft, or Passive House standards. Many of the homes are also equipped with solar panels to decrease energy costs and make the homes even more affordable for Habitat families. Continuing this commitment to sustainable, energy-efficient, and green building, the homes built through this new collaboration will also be constructed to reduce environmental impacts and homeowner energy bills.
"When it comes to affordable housing, there isn't a one-size-fits all solution," said Susanne Slater, President and CEO of DC Habitat, "which is why we're thrilled to be a part of a unique collaboration that helps to provide both affordable rental units and affordable homeownership opportunities. We're grateful to have an incredible contributor in Level 2 on a project that will help meet the needs of more local families, which is our ultimate goal."
Habitat for Humanity of Washington, D.C. believes that everyone deserves a house they want to call home. That's why we work to eliminate poverty housing and homelessness in the nation's capital by building affordable, energy-efficient homes for working families. To learn more, visit http://www.dchabitat.org.
Level 2 Development, LLC, (Level 2) is a Washington, D.C.-based real estate firm specializing in the development of residential and mixed-use projects that offer the highest level of finishes and detail. Level 2 believes in building strong relationships with stakeholders in communities in which it works. Level 2 has proven success in land acquisition, entitlement, and construction management. Since its founding in 2005, the company has led the development of more than 1,500 residential units and 75,000 square feet of retail space. For further information on Level 2 Development, please visit www.level2development.com.
CONTACT: Maria Mastorakos
Habitat for Humanity of Washington, D.C.
(202) 882-4600, ext. 233
[email protected]
SOURCE Habitat for Humanity of Washington, D.C.
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