Holmead Apartments

Holmead Apartments is a 99-unit property in the Columbia Heights (Ward 1) neighborhood of Washington, DC. The approximately 71,000 sq. ft. six-story apartment building  has an additional two levels of underground parking on 0.44 acres.

This community is one the last naturally occurring market affordable properties located in a neighborhood facing pressures of gentrification and rent increases. To maintain affordability, the current residents of the property leveraged their rights under the Tenant Opportunity to Purchase Act (TOPA) and selected Wesley Housing as its development partner.

Wesley Housing is planning to hold the property for a short-term period before undertaking substantial rehabilitation activities to preserve the units and ensure long-term affordability and in the short-term will take immediate steps to address life safety issues and improve habitability for existing residents.