The next chapter of Washington, D.C.’s long-gestating Barry Farm redevelopment is funded.
The D.C. Housing Authority and development partner Preservation for Affordable Housing secured $98.5 million in construction financing for the first phase of Hillsdale Flats, a 90-unit, fully affordable apartment project within the 34-acre Barry Farm-Hillsdale site in Southeast D.C., according to Commercial Observer.
The capital stack leans heavily on public-sector muscle. The D.C. Housing Finance Agency issued tax-exempt bonds and underwrote low income housing tax credit equity for the project…