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 $22.6M in bonds and $18.9M loan
The District of Columbia Housing Finance Agency (DCHFA) has provided major financing for a new affordable senior housing project in Southeast Washington, helping make construction possible on a site that sat idle for years. The financing package includes $22.6 million in tax‑exempt bonds, tax credit equity underwrites, and a separate $18.9 million loan from the Housing Production Trust Fund, supporting the five‑story Wagner Senior Residences at 2419 25th Street SE in the Skyland neighborhood (Ward 8).
What the project will be
Wagner Senior Residences will be a newly built, five‑story apartment building with 67 units aimed at older adults. The unit mix includes 6 studios, 58 one‑bedroom, and 3 two‑bedroom apartments. Units are reserved for households earning between 30% and 80% of Area Median Income (AMI), and 13 units will offer Permanent Supportive Housing (PSH) services for eligible residents. Building amenities will include a fitness center, indoor and outdoor resident lounges, and an outdoor terrace.
Financing breakdown
The DCHFA package announced in late August 2025 comprises $22.6 million in tax‑exempt mortgage revenue bonds. As part of the financing, DCHFA underwrote $17.2 million in Federal Low‑Income Housing Tax Credit (LIHTC) equity and $3.6 million in D.C. Low‑Income Housing Tax Credit equity. In addition, the D.C. Department of Housing and Community Development provided a $18.9 million Housing Production Trust Fund (HPTF) loan to the project. The total development cost is reported at $47.6 million.
Lower‑cost construction financing tool
To further reduce borrowing costs, the sponsor team worked with DCHFA to underwrite an FHA‑insured construction‑to‑permanent 221(d)(4) loan. That structure is intended to lower capital costs through an FHA insurance mechanism that combines construction and long‑term financing into one workflow.
Who’s building it
The project is being developed by Justice Housing and The Miller Group. EquityPlus is listed as a financial partner and development consultant, with its managing director serving as the project’s financial contact. The development team worked to pull together layered public and private financing to preserve the project’s affordability.
Timing and feasibility
The parcel was rezoned in 2020. Rising interest rates in 2022 threatened the project’s feasibility, and project leaders say that without the mix of bonds, tax credit equity, the HPTF loan, and the FHA 221(d)(4) structure, the development might not be workable under current capital costs. The site had stood unused for many years before the current plan moved forward.
Agency role and context
DCHFA issues tax‑exempt mortgage revenue bonds and provides predevelopment, construction and permanent financing intended to lower costs for developers building or rehabbing rental housing. The agency is an S&P AA‑ rated issuer and has served District residents for more than 45 years. In 2025 the agency backed several other large multifamily packages across the city; the Wagner financing was one of the smaller packages by comparison.
Market and neighborhood outlook
Local multifamily market indicators show steady rent and job growth and more supply coming from office‑to‑residential conversions. Project partners note that the Skyland area has changed significantly over the past decade, and the senior residences are intended to give older residents chances to remain in the neighborhood as it evolves.
Next steps
With financing in place, the project team will move into construction and final permitting steps. The layered financing and FHA tool aim to keep long‑term rents aligned with the stated income targets. No construction completion date has been announced in the financing notices.
Frequently asked questions
What is Wagner Senior Residences?
Wagner Senior Residences is a new five‑story affordable housing building for older adults at 2419 25th Street SE in Ward 8, with 67 apartments and on‑site amenities.
Who is financing the project?
The project is financed through a package led by the District of Columbia Housing Finance Agency using $22.6 million in tax‑exempt bonds plus tax credit equity, and includes an $18.9 million loan from the local Housing Production Trust Fund. An FHA 221(d)(4) loan structure is part of the plan to lower costs.
Who is developing the building?
The developers are Justice Housing and The Miller Group, with EquityPlus acting as a financial partner and development consultant.
Who can live there?
Units are reserved for households earning between 30% and 80% of Area Median Income. Thirteen units will offer Permanent Supportive Housing services for eligible residents.
What amenities will be available?
A fitness center, indoor and outdoor resident lounges, and an outdoor terrace are included in the plans.
How does this fit into city housing efforts?
The financing and project goals align with local efforts to expand affordable housing and help residents age in place in changing neighborhoods.
Key project features
| Feature | Detail |
|---|---|
| Project name | Wagner Senior Residences |
| Address | 2419 25th Street SE, Skyland (Ward 8) |
| Building | Five stories, 67 units |
| Unit mix | 6 studios, 58 one‑bed, 3 two‑bed |
| Income targeting | 30%–80% AMI |
| PSH units | 13 units with supportive services |
| Amenities | Fitness center, indoor/outdoor lounges, outdoor terrace |
| Financing highlights | $22.6M tax‑exempt bonds; $17.2M Federal LIHTC equity; $3.6M D.C. LIHTC equity; $18.9M HPTF loan; FHA 221(d)(4) |
| Total development cost | $47.6 million |
| Developers | Justice Housing; The Miller Group; EquityPlus (financial partner) |
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
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