National Housing Trust Press Release
National Housing Trust-Enterprise Preservation Corporation Announces

Ground Breaking Ceremony to Kick Off the Renovation of Copeland Manor Affordable Housing in Ward 7


61 Apartments in D.C.'s Marshall Heights Neighborhood to be fully Renovated and Made Energy Efficient While Remaining Affordable to Low and Moderate Income Families


Funding through HUD's Neighborhood Stabilization Program 2 Allows Affordable Housing to be Preserved While Creating Well-Paying Jobs and Helping to Revitalize a D.C. Community


(WASHINGTON, D.C. December 12, 2011)-- On December 20th, U.S. Department of Housing & Urban Development Assistant Secretary Mercedes Márquez will join District of Columbia government leaders, residents, neighbors, and community developers to celebrate the ground breaking of Copeland Manor affordable housing in Washington, D.C.'s Marshall Heights neighborhood in Ward 7. Low-income families will soon be able to enjoy fully renovated, energy efficient affordable apartments. The preservation and renovation of Copeland Manor was made possible by a Neighborhood Stabilization Program 2 (NSP2) grant funded through the 2009 American Recovery and Reinvestment Act.


Preserving and improving Copeland Manor will ensure that low- and moderate-income families can remain in their community and will help reverse the decline of a neighborhood that has been beset by home foreclosures and property abandonment. The recent economic and financial crises have severely affected the Marshall Heights neighborhood, reducing public and private investment that is needed to revitalize this working-class community.


Copeland Manor was plagued by significant financial problems, deteriorating physical conditions, and high and growing vacancy rates. To save their homes, residents selected the National Housing Trust-Enterprise Preservation Corporation (NHT/Enterprise) to help them acquire and rehabilitate their apartments. The rehabilitation of this housing will dramatically improve the physical condition of the buildings and the site, provide a much better quality of life for residents, and eliminate the most destabilizing conditions in the neighborhood.


"Everyone should have the opportunity to live in a quality community they're proud to call home," said Michael Bodaken, president of NHT/Enterprise. "Saving housing like Copeland Manor is essential for not only maintaining but also stabilizing diverse, vibrant, and mixed-income communities that include easy access to public transportation, jobs and other opportunities for low-income families."


Funding through HUD's Neighborhood Stabilization Program 2 (NSP2) has proven critical to the preservation of Copeland Manor. A grant of $3.6 million in NSP2 funds is being used to help finance a substantial property and site renovation of approximately $56,000 per apartment and establish reserves to ensure the property is well capitalized for long term use as affordable housing. To secure NSP2 funding, NHT/Enterprise joined an experienced consortium led by the NHT Community Development Fund (NHTCDF) and the Telesis Corporation in submitting an application to HUD. Additionally, the D.C. Department of Housing and Community Development reduced the debt on the cooperative by modifying the principle amount of the original acquisition loan from $4 million to a $1.8 million cash flow note.


"NSP is stabilizing neighborhoods, creating jobs, and rebuilding our economy," said Mercedes Márquez, HUD's Assistant Secretary. "I salute the hard work that has made this ground breaking for Copeland Manor possible.  The Project Rebuild proposal in the American Jobs Act would scale these extraordinary investments with another $15 billion nationally."


The rehabilitation of Copeland Manor will create jobs and support the local economy. According to the National Association of Homebuilders, rehabilitating 61 apartments creates more than 79 well-paying jobs. Additionally, it is estimated that $1 spent on housing development provides at least $1.10 in additional economic activity. Thus, an investment of $3.6 million in NSP2 funds will produce approximately $4 million in economic activity for the District.


Renovations to the property will include all new bathrooms, new kitchens; the installation of ENERGY STAR appliances, low-flow kitchen and bathroom fixtures, fluorescent lighting, new low-albedo roofs, Green Label carpeting, low VOC paints and sealants, upgrades to electrical service, reconfiguration of ADA units, extensive site work, a new storm water management system, new building facades, secure entryways, and secured parking gates. A previous grant from the federal Weatherization Assistance Program provided energy efficient windows and new energy efficient HVAC systems for each apartment. Construction began in October 2011 and will be completed in August 2012. The rehabilitation of Copeland Manor will meet the Enterprise Green Communities Criteria as required by the District of Columbia. Residents will enjoy significant health and economic benefits as a result of utility saving and environmentally friendly improvements.


Copeland Manor supports the principle of affordable transit-connected housing as a key economic development strategy that encourages the growth of diverse neighborhoods, ensuring easy access to good jobs and services for low-income families in the Marshall Heights neighborhood. Copeland Manor is an ideal example of a transit oriented community because of its close proximity to public transportation. Within a half-mile there are seven separate metrobus line stops and the Benning Road Metro Station, serving the District's Blue Line. The preservation of well-located affordable housing like Copeland Manor is essential to the success of maintaining a vibrant, mixed-income neighborhood, while providing residents with access to amenities, transportation, and employment opportunities.


The acquisition and renovation of the 61 units will serve households below 80% of AMI and will further affordability by exceeding the NSP2 requirement that 25% of rehabbed units be targeted to households at or below 50% AMI. With this investment, Marshall Heights can achieve stabilization in its multifamily housing stock, which will attract and leverage additional private investment.



Tuesday, December 20, 2011

11:30 am- 1:00 pm Copeland Manor



Copeland Manor

4710 C Street, SE Unit #302

Washington, DC 20019



NHT Community Development Fund

US Department of Housing & Urban Development

D.C. Department of Housing & Community Development

Office of the Deputy Mayor for Planning & Economic Development (invited)

Office of Councilwoman Yvette Alexander

The Copeland Manor Cooperative, Inc.

PGN Architects

Hamel Builders

Vision Realty Management



Remarks by Speakers

Ground Breaking Ceremony

Photo Opportunity

About National Housing Trust

The National Housing Trust (NHT) protects and improves existing affordable rental homes so that low income individuals and families can live in quality neighborhoods with access to opportunities. NHT fulfills its mission through policy engagement, real estate development, and lending.


About National Housing Trust-Enterprise Preservation Corporation

A joint effort of the National Housing Trust and Enterprise Community Partners, NHT/Enterprise partners with community groups, for-profits and investors to buy and renovate affordable apartments that are deteriorating or at risk of being converted to market rate. Based in Washington, DC, NHT/Enterprise has preserved more than 5,500 affordable homes in nine states and the District of Columbia.

About U.S. Department of Housing and Urban Development (HUD)

HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD is working to strengthen the housing market to bolster the economy and protect consumers; meet the need for quality affordable rental homes: utilize housing as a platform for improving quality of life; build inclusive and sustainable communities free from discrimination; and transform the way HUD does business. More information about HUD and its programs is available at www.hud.govand espanol.hud.gov.


About U.S. Department of Housing and Urban Development (HUD)

The mission of the Department of Housing and Community Development (DHCD) is to create and preserve opportunities for affordable housing and economic development and to revitalize underserved communities in the District of Columbia. DHCD fulfills its mission by providing gap financing; increasing first-time homeownership opportunities; providing funding to rehabilitate single-family and multi-family homes; supporting communities through neighborhood based activities; providing funding for homelessness prevention; addressing vacant and abandoned properties; and overseeing the administration of rental housing laws.


About the American Recovery and Reinvestment Act

On Feb. 13, 2009, Congress passed the American Recovery and Reinvestment Act of 2009 at the urging of President Obama, who signed it into law four days later. A direct response to the economic crisis, the Recovery Act has three immediate goals 1) create new jobs and save existing ones, 2) spur economic activity and invest in long-term growth and 3) foster unprecedented levels of accountability and transparency in government spending.The Neighborhood Stabilization Program2 (NSP2) was established to stabilize neighborhoods whose viability has been and continues to be damaged by the economic effects of properties that have been foreclosed upon and abandoned. NSP2, a term that references the NSP funds authorized by Title XII of Division A of the American Recovery and Reinvestment Act of 2009, (the Recovery Act) provides grants to states, local governments, nonprofits and a consortium of public and or private nonprofit entities on a competitive basis.


Kara Williams-Kief

(202) 333-8931 x.118 kwilliamskief@nhtinc.org