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(WASHINGTON, DC) – Mayor Muriel Bowser today kicked off June Housing Bloom by opening the application period for the Oramenta Newsome Predevelopment Loan, a new $2 million fund to help non-profit developers secure the early capital needed to get affordable housing projects off the ground faster.
“June Housing Bloom is about creating new opportunities and connecting residents to the programs and resources we already have available,” said Mayor Bowser. “As Washington, DC continues to grow, we’re laser-focused on remaining a city that works for all families – those who have lived here for five generations and those who are just joining us.”
Through the Oramenta Newsome Predevelopment Loan, non-profit developers can apply for up to $100,000 per project to help partially cover pre-development costs, such as architectural plans and third party reports, required by the DC Department of Housing and Community Development (DHCD) as part of its consolidated request for proposals application. DHCD and the DC Housing Finance Agency (DCHFA) are administering the fund.
In addition to opening the application period for the new fund, solicitations were also released for Certified Business Enterprises (CBEs) to develop and/or rehabilitate vacant spaces into affordable housing. Under the Vacant to Vibrant DC initiative, DHCD issued two CBE solicitations to rehabilitate 2805 4th Street, NE and 2412 Martin Luther King Jr. Avenue, SE into three affordable single-family homes.
June Housing Bloom is a month-long initiative that was launched by Mayor Bowser to showcase how the public and private sectors are partnering to produce and preserve affordable housing and revitalize neighborhoods across Washington, DC. Throughout June Housing Bloom, which is designed to complement National Homeownership Month, the Bowser Administration will hold events celebrating homeownership opportunities, the production and preservation of affordable housing units, and the transformation of vacant spaces.
Key events and announcements for the month include:
To learn more about June Housing Bloom events, visit dhcd.dc.gov.
Since coming into office, the Bowser Administration has sparked the creation or preservation of more than 10,800 affordable units, with more than 5,100 in preconstruction. In the Fiscal Year 2019 budget, the Mayor invested more than $1 billion toward making Washington, DC more affordable for residents in all eight wards.
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