$98.5 Million in Financing Closes for 3rd New Property in Barry Farm Redevelopment
The multi-million dollar investment will fund construction of Hillsdale Flats Phase I
WASHINGTON, D.C. – Today, Mayor Muriel Bowser, the Office of the Deputy Mayor for Planning and Economic Development (DMPED), the DC Housing Authority (DCHA) and Preservation of Affordable Housing (POAH) announced the closing of financing for the construction of the 90-unit, fully affordable Hillsdale Flats Phase I, the third new construction property in the multi-phase redevelopment of the Barry Farm-Hillsdale community in DC’s historic Anacostia neighborhood.
This month, the District of Columbia Housing Finance Agency (DCHFA) underwrote short and long-term tax-exempt bonds and federal and DC Low Income Housing Tax Credit (LIHTC) equity to fund construction of Hillsdale Flats Phase I, part of the New Communities Initiative (NCI) at Barry Farm. Hillsdale Flats Phase I is also supported by DMPED, which provided NCI loans for predevelopment and infrastructure, and DCHA funding. Other financing partners include JPMorgan Chase and Fannie Mae, and National Equity Fund Inc. as the equity investor.
“With the Hillsdale Flats, we are continuing to deliver safe, beautiful, and affordable housing that the community deserves and that our Barry Farm families have asked for,” said Mayor Bowser. “I made a promise to Mayor Barry that we would use our city’s resources to do more for Ward 8 than any prior mayor was able to do – and I’m proud that, together, we’re keeping that promise and we’re certainly keeping it at Barry Farm-Hillsdale.”
DCHA and POAH serve as co-developers for the Barry Farm site, where the redevelopment – once complete – will create a mixed-income community featuring at least 900 affordable rental and for-sale housing units, including 380 public housing replacement units.
“This financing not only supports the construction of Hillsdale Flats Phase I, it also propels the ongoing revitalization of the dynamic and historic Barry Farm community,” said DCHA Executive Director Keith Pettigrew. “With family-sized units, Hillsdale Flats Phase I will be an opportunity for parents and children to grow and thrive. DCHA is grateful to partner with Mayor Bowser, DMPED and POAH as we continue to work together to bring the long-term vision for Barry Farm to life.”
"This phase is pivotal to delivering family-sized homes that truly meet the needs of households in our community. The Barry Farm–Hillsdale redevelopment is more than housing; it’s a catalyst for inclusive growth and long-term opportunity in Ward 8 and across the District. To date, the project has directed over $64 million to Certified Business Enterprises (CBEs), fueling local job creation, empowering small businesses, and driving sustainable economic development,” said Maia Shanklin Roberts, POAH Vice President of Development. “We are proud to advance a vision that promotes housing stability while creating shared economic benefits for the entire community."
Hillsdale Flats Phase I will include 9 three-story buildings and offer 7 one-bedroom, 31 two-bedroom, 33 three-bedroom, 15 four-bedroom and 4 five-bedroom units. Of the 31 two-bedroom apartments, nine will be live-work units where artists and entrepreneurs can take advantage of a hybrid studio space within the home. The apartment community’s 90 units are restricted to residents earning 80 percent of the Area Median Income (AMI) or less, with 42 designated for former Barry Farm Dwellings residents.
Construction is expected to begin on Hillsdale Flats Phase I in the beginning of January 2026. The Asberry, a 108-unit mixed-use building and the first new construction property at the site, is fully leased following a November 2024 opening. Ground broke on the 139-unit Edmonson in late 2024 and its construction is expected to be completed in December 2026.
An approximately 34-acre site bound by Suitland Parkway, Firth Sterling Ave SE and Wade Road SE, Barry Farm was established in 1867 to provide formerly enslaved African Americans with an opportunity to own land and build a self-sustaining community after the Civil War.
The redevelopment of Barry Farm is one of four projects under NCI, a District government program that creates vibrant mixed-income neighborhoods through a partnership between DMPED and DCHA. Other NCI projects are the Rise at Temple Courts at Northwest One, which officially opened in Ward 6 in late 2022; Providence Place and The Strand Residences, two 100% affordable housing communities, where 179 units were delivered including 63 through NCI, at Lincoln Heights and Richardson Dwellings in Ward 7; and Park Morton, where the 142-unit Park Morton Apartments opened earlier this year.
About DC Housing Authority
The District of Columbia Housing Authority (DCHA) is committed to providing safe, affordable, and quality housing to the residents of the District of Columbia. The agency emphasizes fostering a collaborative work environment to meet the highest expectations of the affordable housing industry. With a focus on innovation and community development, DCHA strives to improve the lives of individuals and families by creating sustainable and thriving communities. Learn more at our website about DCHA and the work that the agency is doing to impact the residents of Washington, D.C.
About Office of the Deputy Mayor for Planning and Economic Development
The Office of the Deputy Mayor for Planning and Economic Development (DMPED) assists the Mayor in the coordination, planning, supervision, and execution of economic development efforts in the District of Columbia with the goal of creating and preserving affordable housing, creating jobs, and increasing tax revenue. DMPED pursues policies and programs that create strong neighborhoods, expand and diversify the local economy, and provide residents with pathways to the middle class.
About Preservation of Affordable Housing
Preservation of Affordable Housing (POAH) is a nonprofit developer, owner and operator of 14,000 affordable rental apartments in 13 states and the District of Columbia. POAH’s primary mission is to preserve and steward sustainable affordable renting housing for low-to-moderate income individuals and families. POAH specializes in the preservation of existing affordable housing that is at risk of being lost due to market pressures or physical deterioration. POAH has expertise in new construction and neighborhood-scale mixed-income development and mixed-use redevelopments.