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Mayfair Mansions

Mayfair Mansions

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Published by dorven

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Published by: dorven on Oct 15, 2009
Copyright:Attribution Non-commercial

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Mayfair Mansions
Project Description
Mayfair Mansions is a 569-unit apartment complex in Washington, DC. The property waspurchased in 2006 by a joint ownership entity consisting of Community Preservation andDevelopment Corporation (CPDC) and Marshall Heights Community Development Organization(MHCDO). The residents initiated the process when, organized as the Mayfair Mansions 2005Tenant Association, Inc., they exercised their rights under DC law to purchase the property. TheAssociation selected CPDC and MHCDO to acquire and rehabilitate the property and to maintainit as affordable housing.The project preserves affordable rental housing as well as creates affordable homeownershipopportunities. The rental portion consists of 409 units, the majority of which are supported by arenewed 20-year Section 8 contract, ensuring continued affordability for very low-incomeresidents. The homeownership portion, consisting of 160 units, is the result of a historicapproval by the U.S. Department of Housing and Urban Development to convert the units toaffordable condominiums. The Tenant Association advocated for partial homeownership in orderto provide low- and moderate- income households the opportunity to purchase. Many residentswill be utilizing the Section 8 Homeownership Program to purchase their units.In addition to the substantial renovation of the units, the project includes replacing the currentcommunity building with a new free-standing community center that will provide programs andresources to further improve the quality of life of residents. The entire redevelopment process,expected to be completed in 2009, will create a socially, financially and physically securecommunity for the residents.The acquisition of the property was possible through a $24.2 million loan provided by the DCDepartment of Housing and Community Development (DHCD). The permanent and constructionfinancing for the rental project will utilize the DHCD Housing Production Trust Fund (HPTF),Federal Historic Tax Credits, as well as Tax Exempt Bond financing and Low Income Housing TaxCredit allocations provided by DC Housing Finance Agency (HFA). The condominium project willalso utilize subsidy from the DHCD HPTF.Mayfair Mansions boasts an important role in the history of the District's African Americancommunity. Originally completed in 1946, it is one of the city's earliest garden apartmentcomplexes and one of the first conceived and designed for working- and middle-class AfricanAmerican residents in the District. It has been placed on the District of Columbia Register of Historic Sites and the National Register of Historic Places.
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