DCCH has taken ownership of
the Fairmont Square Apartment, located at 1225 Fairmont Street,
NW. This 9-unit property was formerly assisted by the HUD Section
236 Rental Assistance Program. The property was foreclosed by HUD
and placed up for public auction during a critical point in the
neighborhood's gentrifying housing market, which would directly
cause displacement of the families living in the property.
DCCH,
in coordination with the 5 tenant occupied households attended
and made the winning bid ($427,000) at the HUD auction in October
2001. The project will convert to a tenant owned low-income housing
cooperative upon completion of rehabilitation. The acquisition
financing was accomplished with a loan from the DC Department
of Housing and Community Development (DHCD) made to DCCH to prevent
displacement and maintain affordable housing.
The Development Corporation of Columbia Heights
3419
14th Street NW, Washington DC, 20010Phone
202-483-4986Fax
202-483-4982
Phone
202-483-4986