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DCHA’s top priority in revitalizing Oak Street Apartments, a 50-unit building located at 1456 Oak Street, NW, was to keep affordable housing in a booming community. All of the units in the building are subsidized through HUD’s project-based Housing Choice Voucher Program, so 50 deserving families could continue to live in Columbia Heights. 

In 2007, the building received a $2.5 million renovation which provided new kitchens and baths, new HVAC heating & air conditioning, carpeting, a hi-tech security system and many other improvements. The 50-unit building has four accessible (UFAS) units for individuals with impaired mobility.   
 
DCHA took control of the property in 2003 from an inactive non-profit owner. At that time, the property had suffered severe deterioration and was under the threat of foreclosure for failing U.S. Department of Housing and Urban Development (HUD) building inspections. After making some initial repairs to improve immediate living conditions, DCHA hired CIH Properties, Inc., a private management firm, and worked with the residents, HUD, the Latino Economic Development Corporation, Urban Village and other neighbors to develop a comprehensive renovation plan. 
 
The renovation was undertaken in stages to allow those residents wishing to remain in the building to stay while repairs were being made. Fourteen residents chose to remain, and were moved into new units as they were completed. Twenty four tenants chose to relocate to other housing and were provided Housing Choice Vouchers to ensure their relocation housing was affordable.
 
DC Housing Enterprises, a subsidiary of DCHA, financed the renovation on an interim basis. The District’s Department of Housing & Community Development (DHCD) provided a $1 million grant to support this effort, and the D.C. Housing Finance Agency approved refinancing the property’s existing mortgage and renovation cost. CIH Properties provided construction management for the renovation and worked with DCHE to arrange permanent financing. HUD approved increased subsidy assistance under the mark-up-to-market program, which will ensure long term affordability and support mortgage payments on the refinanced property.
Last modified: 8/20/2010 8:54:18 AM