17 Mississippi Ave SE
Washington, DC 20032
Office Property For Sale

The Congress Heights neighborhood of Washington D.C. has seen substantial economic development initiatives undertaken by the District of Columbia over recent years. The lack of affordable housing is a critical issue for the District, with almost 50% of households within the Primary Market Area (PMA) of the development site categorized as “Rent Overburdened,” or households that pay more than 35% of their income towards rental housing expenses. The District of Columbia has made it a priority to provide affordable housing opportunities and development funding in historically underserved areas of the city. This is evidenced by the almost 2,300 units within the subject’s PMA that have received LIHTCs, Federal or Municipal funding since 2013. In addition, 17 Mississippi is in close proximity to some of the District’s most visible redevelopment projects, including the St. Elizabeth’s Hospital Redevelopment and the Barry Farm Redevelopment. 17 Mississippi is eligible for DHCD’s 2017 Notice of Funding Availability (NOFA) funding round for Federal and District affordable housing financing programs. The project is likely to see financing commitments from the District of Columbia’s Housing Production Trust Fund (HPTF) established by Mayor Muriel Bowser to provide $100 million annually to develop and preserve affordable housing in the District of Columbia.