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.
D.C. agency provides $22.6M in tax‑exempt bonds and secures $18.9M HPTF loan for 67‑unit Wagner Senior Residences in Skyland
The District of Columbia Housing Finance Agency provided the core financing package for a new, five‑story affordable senior housing project planned at 2419 25th Street SE in the Skyland neighborhood of Southeast Washington, D.C. The project, called Wagner Senior Residences, will total 67 apartments and is being developed by Justice Housing and The Miller Group with EquityPlus serving as a financial partner.
Financing at a glance
The financing announcement lists $22.6 million in tax‑exempt mortgage revenue bonds issued by the housing finance agency, plus agency‑underwritten equity from Federal and local low‑income housing tax credits. The agency underwrote $17.2 million in Federal LIHTC equity and $3.6 million in D.C. LIHTC equity. In addition, the D.C. Department of Housing and Community Development is providing a $18.9 million loan from its Housing Production Trust Fund toward the project. The total reported development cost is $47.6 million.
Project design, units and services
Wagner Senior Residences is planned as a five‑story new construction building with a unit mix of six studios, 58 one‑bedroom apartments and three two‑bedroom apartments. Units are reserved for households earning between 30% and 80% of Area Median Income (AMI). Thirteen units will be set aside to receive Permanent Supportive Housing program services for households who are eligible, integrating supportive services into the property.
Common areas on the property will include a fitness center, indoor and outdoor resident lounges and an outdoor terrace. The project aims to provide accessible, amenity‑driven housing for older residents of Ward 8 with connections to nearby neighborhood improvements.
Financing and feasibility details
Project sponsors and the agency also underwrote an FHA‑insured construction‑to‑permanent 221(d)(4) loan to secure lower‑cost, long‑term financing during construction and stabilization. Project leaders report the combined financing tools were critical to make construction feasible given higher interest rates and capital costs that emerged after 2020. The site itself was rezoned in 2020 and remained undeveloped for many years; rising rates in 2022 threatened the project’s viability without these layered public and private financing sources.
Agency role and context
The housing finance agency issues tax‑exempt mortgage revenue bonds to lower acquisition, construction and rehabilitation costs for rental housing and underwrites LIHTC equity as part of multifamily lending activities. The agency also offers predevelopment, construction and permanent financing to private developers and nonprofits supporting affordable housing in the District. The agency is a long‑standing public finance issuer with a high credit rating and describes affordable housing investment and neighborhood development as central to its mission.
In the context of the agency’s 2025 activity, the Wagner financing package is one of the smaller recent packages, following several larger bond and tax‑credit deals earlier in the year that supported other multifamily developments across the city.
Market and neighborhood notes
Local multifamily market indicators point to steady rent and job growth and an expanding pipeline of office‑to‑residential conversions, trends that supporters say make new housing investments timely. Project financial partners note that the area around the site has improved substantially over the past decade, with new amenities and changing development patterns that the project is intended to connect to while preserving affordable options for seniors.
Timing and reporting
The bond issuance was recorded in late August 2025 and reported in early September 2025. No construction start or completion dates were disclosed in the financing announcement; timeline details and construction milestones will be announced by the development team as the project advances.
Frequently Asked Questions
What is Wagner Senior Residences?
Wagner Senior Residences is a planned five‑story affordable senior housing development at 2419 25th Street SE in the Skyland neighborhood of Southeast Washington, D.C., with 67 apartments.
Who is developing the project?
The project is being developed by Justice Housing and The Miller Group, with EquityPlus acting as a financial partner and development consultant.
How is the project being financed?
The financing package includes $22.6 million in tax‑exempt bonds, agency‑underwritten LIHTC equity of $17.2 million (Federal) and $3.6 million (D.C.), and a $18.9 million loan from the Housing Production Trust Fund. An FHA‑insured construction‑to‑permanent 221(d)(4) loan was also underwritten to reduce long‑term costs.
Who can live there?
Units are reserved for households earning between 30% and 80% of Area Median Income (AMI). Thirteen units will offer Permanent Supportive Housing services for eligible residents.
What amenities will be provided?
The development will include a fitness center, indoor and outdoor resident lounges and an outdoor terrace among its common‑area amenities.
Why was public financing necessary?
Sponsors say rising interest rates and higher capital costs in recent years strained project feasibility. The layered public financing and tax‑exempt bond structure were used to lower costs and preserve affordability that might not be feasible with only market‑rate financing.
When will construction begin?
The financing disclosure did not specify construction start or completion dates. Further scheduling information is expected from the development team.
Key project features
| Item | Details |
|---|---|
| Project name | Wagner Senior Residences |
| Address | 2419 25th Street SE, Skyland, Ward 8 |
| Building size | Five stories |
| Total units | 67 (6 studios, 58 one‑bed, 3 two‑bed) |
| Income targeting | Households earning 30%–80% AMI |
| Permanent Supportive Housing | 13 units with PSH services |
| Common amenities | Fitness center, indoor/outdoor lounges, outdoor terrace |
| Developers | Justice Housing; The Miller Group; EquityPlus (financial partner) |
| Major financings | $22.6M tax‑exempt bonds; $17.2M Federal LIHTC equity; $3.6M D.C. LIHTC equity; $18.9M HPTF loan |
| Total cost | $47.6M |
| Additional financing tool | FHA‑insured 221(d)(4) construction‑to‑permanent loan |
| Rezoning | Site rezoned in 2020 |
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
