Among buyers, Manna is a well-known affordable homeownership developer with a reputation for delivering quality units at a reasonable price. They work very closely with their buyers during the often lengthy construction, homebuyer education and mortgage processes. Since 1982, Manna has completed and sold over 900 homes.
Located in the Anacostia neighborhood of southeast Washington, D.C., this project will rehab and reconfigure six attached apartment buildings that have been vacant for close to a decade. Reinvestment Fund financing will help develop create 24 two-bedroom condominium units that include central air, ceramic tile in kitchen and bath, carpeting throughout, laminate counter tops, Energy Star appliances, and laundry hook-ups.
Based on current assumptions, the lower priced units will be affordable to those earning as little as $24,000 (22% of AMI) and the higher priced units will be affordable to those earning as little as $34,000 (31% of AMI). This provides an extremely broad buyer pool as compared to many projects that have a far smaller eligibility window. Fourteen of the 24 are already under agreements of sale.
The project is a few blocks from the District’s Department of Housing and Community Development’s (DHCD) new headquarters building at Goodhope Road and MLK Boulevard. The new DHCD building is part of a larger economic development effort that has brought new employment, new retail and better foot traffic to the neighborhood. Also included is this effort is a new 22,000 square foot, state-of-the-art public library at 1800 Goodhope Road, just two blocks from the project.
Also nearby are the Frederick Douglas Museum, Fort Stanton Park, and the Anacostia historic district which features a number of 19th century homes. The area is well served by buses that run along Goodhope and MLK and which serve the Anacostia Metro station, about 12 blocks away.