WASHINGTON (DC News Now) — D.C. Mayor Muriel Bowser cut the ribbon on a new “net-zero” 100% affordable housing project on Thursday, the first of its kind in the District.
The Cycle House is an 18-unit all-affordable housing community in the Truxton Circle neighborhood. The units consist of five studios, 11 one-bedroom, one two-bedroom, and one three-bedroom, which are reserved for households making 30%-60% of the Median Family Income (MFI).
The project received $1.3 million in 9% low-income housing tax credits from the Department of Housing and Community Development, and $2 million in construction financing from the DC Green Bank…