For a brief refresher on exactly where the neighborhood is located (and just how much it needs to be revitalized), check out this Ivy City primer. This press release is from the mayor’s office:
Fenty Announces New Housing Initiative to Revitalize Ivy City Aims to Double Neighborhood’s Homeownership Rate
WASHINGTON, D.C. – Mayor Adrian M. Fenty on Tuesday announced a new initiative that will transform 37 long-vacant and blighted properties in Ivy City into market-rate and affordable housing and double the Northeast neighborhood’s homeownership rate.
“For far too long these vacant properties have been an endless source of problems for this community serving as places to deal drugs and dump trash,” said Mayor Fenty. “But that is going to change. We are making a highly concentrated investment here to transform this six-block area into a safer and healthier community where twice as many residents will own their own homes and have a real stake in the success of this community.”
After a competitive solicitation process, the District, through the Department of Housing and Community Development, awarded these properties to the following four developers: Mi Casa, Inc., Manna, Inc., DC Habitat for Humanity, and MissionFirst. They will build 58 units of housing, including single family, condominium, and limited-equity cooperatives on the vacant sites. Twenty-nine of those units are to be affordable to households at or below 50 percent of the Area Median Income. An additional 23 units are planned to be affordable to households between 50 percent of the Area Median Income and 80 percent of the Area Median Income. The remaining 6 units will be market rate.
The District is combining the value of the land – about $1 million – with about $3 million in funding predominantly from the federal Neighborhood Stabilization Program to offset the cost of the $15 million project.
During phase one of project, Mi Casa, Inc. will rehabilitate three buildings located at 1302 Gallaudet, NE, 1304 Gallaudet, NE, and 1917 Capitol Avenue, NE creating eight housing units. During its second phase, Mi Casa, will complete an additional seven units located on Capitol Avenue, NE, Kendall Street, NE, and Corcoran Street, NE.
In subsequent phases, Manna, Inc. will build 20 units; MissionFirst will build 15 units; and DC Habitat for Humanity will build eight units.
With just more than 12 percent of its residents owning their own homes, Ivy City has one of the lowest rates of homeownership of any District neighborhood. Once this initiative is complete, the homeownership rate is expected to double.