Responses to interest list inquiries can be expected by Winter 2024. Riggs Crossing is expected to deliver Q1 2025.
Riggs Crossing Senior Residences (Riggs Crossing), is a new senior affordable housing development coming to Ward 4. The project is part of APAH’s regional expansion and marks its first community in the District of Columbia.
Riggs Crossing is the product of a partnership with EYA LLC, the developer of the adjacent Riggs Park Place townhome community. When completed, the project will add 93 apartments for independent adults aged 62 and older, located blocks from community amenities, retail, and the Fort Totten Metrorail Station. The community will create 52 apartments for households with incomes at or below 30% of the Median Family Income (MFI) and 41 apartments for households between 30% to 50% of MFI. Ten apartments are designated for Permanent Supportive Housing, with services provided by Jaydot. This mix of unit types will address the growing need for deeply affordable homes in the region.
Financing
The Riggs Crossing project is a critical priority for the District of Columbia and has received significant support from Mayor Muriel Bowser, the Office of the Deputy Mayor for Planning and Economic Development (DMPED), and DC Department of Housing and Community Development (DHCD). The project was partly funded with over $25 million from the Housing Production Trust Fund (HPTF) from DHCD. The HPTF investment provided $25 million in gap financing, which helps APAH leverage additional funding and increase affordability.
DHCD awarded the project with federal Low-Income Housing Tax Credits (LIHTCs) and D.C. tax credits, which, when purchased by Truist Community Capital, total approximately $24 million in equity. This 4% tax credit project received an allocation of $30.6 million in tax-exempt bonds from the District of Columbia’s Housing Finance Agency (DCHFA). The project also features commercial space on the ground floor, which will be financed by Virginia Community Capital. Other valued project partners include general contractor DAVIS Construction, architect Torti Gallas + Partners, KCM construction management, and Bohler Engineering. Construction has commenced and will be completed in 2025.
Stories From Riggs Crossing
APAH to Build 93 New Affordable Apartments for Seniors in Northeast DC, July 21, 2023
Riggs Crossing In the News
NE DC groundbreaking held Thursday for senior housing development in Riggs Park, WJLA, July 20, 2023
Fort Totten senior housing development lands financing from DCHFA, Washington Business Journal, June 6, 2023
APAH to build $61M Affordable Housing in DC’s Fort Totten, Commercial Observer, June 2, 2023
DCHFA finances 93 new affordable senior apartments in Fort Totten, DC Housing Finance Agency, June 1, 2023
