Skyland, Washington, D.C. (Ward 8), September 4, 2025
News Summary
The District of Columbia Housing Finance Agency has provided major financing to enable construction of Wagner Senior Residences, a five‑story, 67‑unit affordable senior housing building at 2419 25th Street SE in Skyland. The financing package includes $22.6 million in tax‑exempt bonds, Federal and D.C. LIHTC equity, and an $18.9 million Housing Production Trust Fund loan. An FHA 221(d)(4) construction‑to‑permanent structure lowers capital costs. Developed by Justice Housing and The Miller Group with EquityPlus, the project targets households at 30%–80% AMI and includes 13 PSH units and on‑site amenities like a fitness center and terraces.
Wagner Senior Residences in Skyland Advances After $22.6M in DCHFA Bonds and $18.9M HPTF Loan
A new five‑story affordable senior housing project at 2419 25th Street SE in the Skyland neighborhood of Southeast Washington was moved forward with a financing package that includes $22.6 million in tax‑exempt bonds and $18.9 million in local loan funds. The development, called Wagner Senior Residences, will provide 67 apartments for older adults and has a reported total development cost of $47.6 million.
Key financing and partners
The District of Columbia Housing Finance Agency (DCHFA) issued the tax‑exempt mortgage revenue bonds and underwrote both federal and local low‑income housing tax credit equity totaling $20.8 million — $17.2 million in Federal LIHTC equity and $3.6 million in D.C. LIHTC equity. In addition to the DCHFA funding, the District’s Housing Production Trust Fund provided a $18.9 million loan toward the project’s permanent financing. The sponsor team also arranged an FHA‑insured construction‑to‑permanent 221(d)(4) loan to help secure lower‑cost long‑term financing.
Project details and resident mix
The building will contain 67 units with a unit mix of 6 studios, 58 one‑bedrooms and 3 two‑bedrooms. Units are reserved for households earning between 30% and 80% of Area Median Income (AMI). Thirteen units will be set aside for qualifying households participating in a Permanent Supportive Housing (PSH) program, which will provide on‑site supportive services where needed.
Shared amenities will include a fitness center, indoor and outdoor resident lounges, and an outdoor terrace, aimed at creating social and wellness spaces for residents.
Development team and timeline
The project is being developed by Justice Housing in partnership with The Miller Group, with EquityPlus serving as a financial partner and development consultant. The parcel was rezoned in 2020 and had stood idle for many years before moving forward. Rising interest rates in 2022 made the project economically challenging, and developers and their financing partners say the layered financing structure was essential to restoring feasibility under current market conditions.
Why the financing matters
Officials involved with the financing described the package as an example of tools used to lower developers’ capital costs for affordable rental housing. The Agency’s bonds and tax credit underwriting are intended to reduce borrowing costs for construction and permanent loans, while the local loan from the Housing Production Trust Fund fills key funding gaps. DCHFA is an S&P AA‑rated issuer and has offered similar support to other multifamily projects in the District this year, though the Wagner package is smaller than several recent larger financings completed earlier in 2025.
Market and neighborhood context
Local housing market indicators show steady rent and job growth and a growing pipeline of conversions and new construction in the District. One of the project’s financial partners noted that the area around the Skyland site has improved substantially over the past decade, and that the new development will allow seniors to remain in a neighborhood with increasing amenities.
Public timing
The tax‑exempt bonds were issued in late August, and public announcements about the financing followed in early September. Project leaders say construction financing and the long‑term loan structure were designed to keep costs lower than they would be with conventional financing alone.
Agency background
The housing finance agency involved has operated in the District for more than four decades and uses its Multifamily Lending and Neighborhood Investment and Capital Markets divisions to issue tax‑exempt mortgage revenue bonds and provide low‑cost financing for affordable housing projects. The agency highlights core values such as leadership, integrity and community focus as part of its organizational mission.
Frequently Asked Questions
Q: What is Wagner Senior Residences?
A: It is a new five‑story affordable senior housing building at 2419 25th Street SE with 67 units reserved for households earning between 30% and 80% of AMI.
Q: How was the project financed?
A: The financing package includes $22.6 million in DCHFA tax‑exempt bonds, $17.2 million in Federal LIHTC equity, $3.6 million in D.C. LIHTC equity, and an $18.9 million loan from the D.C. Housing Production Trust Fund. An FHA 221(d)(4) loan was also arranged to lower long‑term financing costs.
Q: Who is developing the project?
A: The development team is led by Justice Housing and The Miller Group, with EquityPlus serving as the financial partner and development consultant.
Q: Are supportive services included?
A: Yes. Thirteen units will be part of a Permanent Supportive Housing program to provide services to eligible residents.
Q: When did financing occur?
A: The bonds were issued in late August and public announcements followed in early September of the same year.
Key Project Features
| Feature | Details |
|---|---|
| Project name | Wagner Senior Residences |
| Address | 2419 25th Street SE, Skyland, Ward 8 |
| Building | Five‑story |
| Total units | 67 apartments (6 studios, 58 one‑bed, 3 two‑bed) |
| Income targeting | 30%–80% AMI |
| PSH units | 13 units with supportive services |
| Amenities | Fitness center, indoor/outdoor lounges, outdoor terrace |
| Developers | Justice Housing; The Miller Group |
| Financial partner | EquityPlus (development consultant/financial partner) |
| DCHFA financing | $22.6M tax‑exempt bonds; underwrote $17.2M Federal LIHTC and $3.6M D.C. LIHTC equity |
| Other financing | $18.9M Housing Production Trust Fund loan; FHA 221(d)(4) construction‑to‑permanent loan |
| Total development cost | $47.6M |
| Key dates | Bonds issued in late August; financing publicly announced in early September |
Deeper Dive: News & Info About This Topic
Additional Resources
- Multihousing News: DCHFA finances fresh affordable senior housing in D.C.
- Wikipedia: Wagner Senior Residences
- ConnectCRE: DCHFA funds new seniors housing project in D.C.
- Google Search: Wagner Senior Residences
- Commercial Observer: D.C. affordable housing DCHFA loan
- Google Scholar: Wagner Senior Residences
- GlobeNewswire: DCHFA closes out August by funding 67 new senior affordable apartments in Ward 8
- Encyclopedia Britannica: Wagner Senior Residences
- Bain Capital Real Estate: Bain Capital Real Estate and Capitol Seniors Housing acquire active‑adult product
- Google News: Wagner Senior Residences
Author: Construction NY News
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