410 Cedar Street NW

30 units of affordable, family housing undergoing renovations in Northwest Washington, DC (Ward 4)

Project Summary

410 Cedar Street NW, a multifamily development in Takoma (Ward 4), offers 30 one- to three-bedroom garden-style walk-up apartments less than one quarter mile from the Takoma Metro station and 1.5 miles from Silver Spring, MD. Wesley Housing and Joseph Development, Inc. (JDI) acquired the property at the end of 2018 and will begin renovations in 2020, with an estimated completion in 2021.

Site Address

410 Cedar Street NW
Washington, DC 20012

Email

wesleyhousing@whdc.org

Fast Facts

Unit Breakdown

14 One Bedrooms

15 Two Bedrooms

1 Three Bedroom

Key Financing

  • 9% Low Income Housing Tax Credit equity ($4.4M)
  • Housing Production Trust Fund subordinate loan ($4.5M)
  • Federal Historic Rehabilitation Tax Credit equity ($1.25M)
  • Long-term permanent senior debt ($3.35M)

Building Amenities

On-site laundry facilities

Community meeting room

Bicycle storage

Off-street parking

Incomes Served

30%, 60% and 80% Area Median Income (AMI)

Estimated Completion

2021

Project Timeline

Finance Closing

Spring 2020

Construction Start

Spring 2020

Construction End

Spring 2021

Lease Up

Spring 2021

In Partnership With

Wesley Housing Development Partnerships Key Investors Bank of America logo