Holmead Apartments

100 units of affordable, family housing nestled in the Columbia Heights, Ward 1 neighborhood of Washington, DC.

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Project Summary

Holmead Apartments is a 100-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.

Site Address

3435 Holmead Place NW,
Washington, DC 20010



Fast Facts

Unit Breakdown

100 units
43 studios
52 one bedrooms
5 two bedrooms

Key Financing

$2.5M grant from the Amazon Housing Equity Fund

$8.8M loan from JP Morgan Chase

$5M loan from LICS DC

$5M loan from Capital Impact Partners

The acquisition financing leverages DHCD’s Housing Preservation Fund

Estimated Completion


Project Timeline

Acquisition Closing

January 2023

Short-Term Hold Period

January 2023 – Spring 2025

Rehabilitation Finance Closing

Spring 2025

Construction Start

Spring 2025

Lease Up and Construction End


In Partnership With

Wesley Housing Partnerships Key Contributors Amazon
Wesley Housing Partnerships Key Contributors Local Initiatives Support Corp