The plan called for a mixed income community with approximately 200 units and underground parking. The project is a part of D.C.’s New Communities initiative and was partially funded using the City’s Housing Production Trust Fund. Relocation and demolition were completed, construction of Phase I and Phase II were completed on time and on budget and both have won awards. The development consists of 100% affordable rental units, constructed in accordance with current zoning. The development team (GRA) was selected for furthering underwriting for up to $995,000 in 9% tax credits by the DC Department of Housing and Community Development (DHCD).
Phase II (The SeVerna on K), includes 133 units of mixed income housing in a 9-story property facing K Street, NW. This development was critical to achieving the goals of New Communities. With a parking garage, gym facing onto K Street and beautiful interiors, this building is a shining example of how a successful mixed-income building can compete with 100% market rate buildings when there is attention to design.