WASHINGTON, DC-The federal Department of Housing and Urban Development has awarded the District a $20-million HOPE VI grant to build 336 units of mixed-income housing at the site of the former Sheridan Terrace housing complex in Ward 8. That $20 million will be leveraged with District funds, low income housing tax credits and private sector funds to reach $107 million, the development cost of the new project. “The biggest source of the remaining funds will be supplied by the development team, which is being led by William C. Smith Cos.,” a spokesman for the District tells GlobeSt.com.

The District of Columbia Housing Authority is also leading the project with William C. Smith Cos. The Office of the Deputy Mayor for Planning and Economic Development is providing $400,000 for predevelopment of the project and coordinating the New Communities work. The HOPE VI funding, besides moving the project closer to fruition, is also providing a psychological boost to the District, the spokesman says. “The [HUD] program has been scaled back in recent years. We see this as a real vote of confidence in the way the District has been able to use Hope VI grants in the past.”

“These grants have been a great tool in helping turn around some of our most challenged communities,” adds Mayor Adrian Fenty. The District has finished two projects, and has four more in the development stage. “They have been transformative in a lot of our neighborhoods.”

One project under way, the Caper-Carrollsburg housing development, is located a few blocks away from the ballpark stadium. Under development by Mid-City Urban, Forest City and EYA, the phased project is delivering 1,400 units of affordable housing.

The newest HOPE VI grant is will be used to replace the 183-unit Sheridan Terrace public housing complex with 336 units of mixed-income housing, including 70 stacked townhouse units, 110 family townhouses, 56 manor homes and a 100-unit family and senior apartment.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.