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WASHINGTON, DC-Parkfair Apartments emerges from a $3.7-million restoration project that converted the 60-year-old property from a duck to a swan. Just a few years ago, Parkfair had been spotlighted by the local government as a condemnation-worthy residential community.

Construction wrapped up earlier this year, but the grand opening of the 31-unit apartment building–which will provide affordable-housing units for at least the next four decades–is scheduled to take place on April 24.

Located at 1611 Park Rd. in the Mount Pleasant area of the city, Parkfair was valued at only $775,000 when the Archdiocese of Washington’s Victory Housing agency acquired the property from the Parkfair Tenant Association in 2001.

“This project is a unique example of a public/private partnership, which could not have been accomplished without the passion of the tenants and vision of Victory Housing,” says Bank of America Washington Area president William Couper. BofA pitched in with renovation funds. Others who helped the Tenant Association to get the dilapidated Pickfair Apartments back in suitable living condition include the Department of Housing and Community Development and the Local Initiatives Support Corp., which supplied Victory Housing with the $775,000 acquisition loan.

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