Skyland, Washington, D.C. (Ward 8), September 4, 2025
News Summary
The District of Columbia Housing Finance Agency has provided major financing to enable construction of Wagner Senior Residences, a five‑story, 67‑unit affordable senior housing building at 2419 25th Street SE in Skyland. The financing package includes $22.6 million in tax‑exempt bonds, Federal and D.C. LIHTC equity, and an $18.9 million Housing Production Trust Fund loan. An FHA 221(d)(4) construction‑to‑permanent structure lowers capital costs. Developed by Justice Housing and The Miller Group with EquityPlus, the project targets households at 30%–80% AMI and includes 13 PSH units and on‑site amenities like a fitness center and terraces.
District agency backs new 67‑unit senior building in Skyland with $41.5 million in public financing
A new five‑story affordable senior housing building will move forward in Southeast Washington after the District of Columbia Housing Finance Agency provided major financing that, together with a city loan, covers most of the project’s cost. The development, called Wagner Senior Residences, will rise at 2419 25th Street SE in the Skyland neighborhood in Ward 8 and contain 67 apartments.
Top-line financing and cost
The agency issued $22.6 million in tax‑exempt bonds and underwrote multiple sources of tax credit equity worth a combined $20.8 million (including $17.2 million in federal LIHTC equity and $3.6 million in local tax credit equity). The District’s Department of Housing and Community Development is also providing an $18.9 million loan from its Housing Production Trust Fund toward the project. Reported total development cost for the building is $47.6 million.
Project essentials
Wagner Senior Residences will be a new construction, five‑story building with 67 homes made up of 6 studios, 58 one‑bedrooms and 3 two‑bedrooms. The apartments will be reserved for households earning between 30% and 80% of Area Median Income (AMI). Thirteen units will be set aside for eligible residents who will receive Permanent Supportive Housing (PSH) services.
Common areas will include a fitness center, indoor and outdoor resident lounges and an outdoor terrace. The developer team is led by Justice Housing and The Miller Group, with EquityPlus serving as a financial partner and development consultant.
Construction financing and feasibility
The sponsor team and the housing finance agency also underwrote an FHA‑insured 221(d)(4) construction‑to‑permanent loan to lower the overall cost of capital for the project. That mix of tax‑exempt bonds, tax credit equity, a city Housing Production Trust Fund loan and FHA insurance was presented as necessary to make the deal work given recent interest rate conditions and higher capital costs. Observers involved in the financing said the project likely would not be feasible under current rates without those layered supports.
Site history and timing
The parcel where Wagner Senior Residences will be built was rezoned in 2020 and had stood idle for many years. Rising interest rates in 2022 threatened the project’s feasibility before the current financing package was arranged. The housing finance agency signaled the financial closing and bond issuance in late August 2025, with additional reporting in early September 2025.
Agency role and priorities
The District housing finance agency said this project is part of its work to lower developers’ costs for acquiring, building and rehabilitating rental housing by issuing tax‑exempt mortgage revenue bonds, providing low‑cost predevelopment and permanent financing, and offering tax credit underwriting. The agency is rated AA‑ by S&P and has a multidecade history of providing capital for housing in the District.
Context within local housing activity
The Wagner financing package was described as smaller than several larger packages the agency provided earlier in 2025 for other multifamily projects across the city. Local market reports show the District’s multifamily market has steady rent and job growth and a growing pipeline of office‑to‑residential conversions. Project partners noted the neighborhood has improved substantially over the last decade.
What’s next
With financing now in place, the development team will move forward with construction under the FHA 221(d)(4) structure and the other public supports. The building aims to provide new, affordable options for seniors in Ward 8 and to add community amenities along with units reserved for residents needing supportive services.
Frequently Asked Questions
What is Wagner Senior Residences?
Wagner Senior Residences is a new five‑story affordable housing building for seniors at 2419 25th Street SE in the Skyland neighborhood. It will have 67 apartments.
Who is financing the project?
The project is financed through a combination of tax‑exempt bonds and tax credit equity underwritten by the District housing finance agency, plus a loan from the city’s Housing Production Trust Fund. An FHA‑insured construction‑to‑permanent loan is also part of the financing mix.
How many units and what kinds of apartments will be offered?
The building will include 6 studio units, 58 one‑bedroom units and 3 two‑bedroom units, with 13 units set aside for Permanent Supportive Housing services.
Who can live there?
Units will be reserved for households earning between 30% and 80% of Area Median Income (AMI), with supportive services available for residents who qualify for PSH units.
When did the financing close?
Financing activity was announced in late August 2025 and publicly reported in early September 2025. Construction financing includes an FHA 221(d)(4) loan to lower costs for the developer.
What amenities will the building have?
Planned amenities include a fitness center, indoor and outdoor resident lounges and an outdoor terrace.
Key project features
| Feature | Detail |
|---|---|
| Project name | Wagner Senior Residences |
| Address | 2419 25th Street SE, Skyland (Ward 8) |
| Building size | Five stories |
| Total units | 67 (6 studios, 58 one‑beds, 3 two‑beds) |
| Income targeting | 30%–80% of AMI |
| PSH units | 13 units with supportive services |
| Major financing | $22.6M tax‑exempt bonds; $17.2M federal LIHTC equity; $3.6M local LIHTC equity; $18.9M city HPTF loan |
| Total development cost | $47.6 million |
| Developers | Justice Housing; The Miller Group; EquityPlus as financial partner |
| Amenities | Fitness center, indoor/outdoor lounges, outdoor terrace |
| Special financing tool | FHA 221(d)(4) construction‑to‑permanent loan |
Deeper Dive: News & Info About This Topic
Additional Resources
- Multihousing News: DCHFA finances fresh affordable senior housing in D.C.
- Wikipedia: Wagner Senior Residences
- ConnectCRE: DCHFA funds new seniors housing project in D.C.
- Google Search: Wagner Senior Residences
- Commercial Observer: D.C. affordable housing DCHFA loan
- Google Scholar: Wagner Senior Residences
- GlobeNewswire: DCHFA closes out August by funding 67 new senior affordable apartments in Ward 8
- Encyclopedia Britannica: Wagner Senior Residences
- Bain Capital Real Estate: Bain Capital Real Estate and Capitol Seniors Housing acquire active‑adult product
- Google News: Wagner Senior Residences
Author: Construction TX News
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