The city’s solicitation for development on eight Anacostia lots may not be returning any blighted buildings to productive use, but one nonprofit developer is. Today, affordable housing developer Manna officially opens The Buxton, a 24-condo project in an Anacostia building that’s long stood vacant.
Manna took over the dilapidated building at 1700-1720 W St. SE last year and has spent upward of $3.3 million on the renovation, assisted by a loan from the D.C. Department of Housing and Community Development. The condos will be available only to low-income buyers, adding affordable ownership housing to a part of town dominated by subsidized rentals.
“It’s in an area which badly needed development,” says Manna’s Frank Demarais. “The building itself was a hazard physically and economically. It’s a dramatic impact on the area.”
Fourteen of the condos will be available to households making up to 80 percent of area median income, a cap of around $59,000 a year for an individual. The sale price for these units will be just over $203,000. But given an arrangement with the city government that will forgive a portion of the buyers’ loans over the course of 15 years, a buyer who sticks around that long will need to finance just $140,000 for the condo.
The remaining 10 units will be restricted to people making up to 50 percent of AMI, or around $37,000 for an individual. Their units are selling for $159,000, but will require just $95,000 if the buyers stay for 15 years.
Mayor Vince Gray and Ward 8 Councilmember Marion Barry will be present at the opening today. The ceremony marks the completion of 12 of the 24 condos; the remainder are expected to be ready next March. According to Manna spokesman Bill Winston, 80 percent of the condos are already under contract.
Rendering and photo courtesy of Manna