Best retirement housing design for Global Awards shortlisted
TORONTO: The shortlist for the best seniors housing design has been declared.
Over 250 designs have been considered by the awards secretariat. One of the finalists in this category is shown above.
The Amazon Housing Equity Fund (HEF) announced that they will provide $27.3 million in below-prevailing-rate financing to American Housing to preserve affordable housing in some of the most sought-after residential areas of Washington, D.C. The properties – Park Regent, Park Meridian, and Ravenel – are located near public transportation, parks, and commercial hubs.
The below-prevailing-rate loans will assist in funding the over $100 million Upper Northwest D.C. Housing Preservation Project, an initiative by American Housing to rehabilitate and modernize three apartment communities in Dupont Circle (Ravenel), Columbia Heights (Park Meridian), and Mount Pleasant (Park Regent) neighborhoods.
American Housing will address deferred maintenance and replace dated systems, improving quality and efficiency. Interior floor plans will be reconfigured to convert 236 existing units of Naturally Occurring Affordable Housing (NOAH) to 254 units affordable to households with incomes at 60% and 80% of AMI for 99 years. Additionally, rent increases will be capped at 3% annually by Amazon.
“The Upper Northwest D.C. Housing Preservation Project is an extension of Amazon Housing Equity Fund’s commitment to ensuring equitable access to affordable housing in close proximity to transit,” said Senthil Sankaran, managing principal of the Amazon Housing Equity Fund. “It’s not merely about buildings. It is about building a community where residents who need access to affordable, quality housing can thrive and contribute. Our goal is to create more interconnected and inclusive communities.”
American Housing is a real estate development firm specializing in workforce, affordable and market-rate transit-oriented development in Northwest Washington, D.C. The firm owns and operates over 400 stabilized rental units that implement a similar mixed-income approach. American Housing operates an affiliated non-profit, the American Housing Foundation, whose mission is to positively impact communities by providing resident services including case management, social services, continuing education assistance, financial literacy coaching, and job training. American Housing Foundation proudly partners with over 60 of D.C.’s most impactful nonprofits including the Alliance for Concerned Men, Operation Hope, Life Enhancement Services, and Parent Watch to offer on-site services for residents.
The Global Award winner will be announced in November in London. (Globals)
