DHIC awarded grant to support redevelopment plan
DHIC was recently awarded a $500,000 grant, through the nationally-competitive Project Reinvest for Neighborhoods program, to support the pre-construction phase at Washington Terrace. A total of $27.5 million in neighborhood stabilization grants were awarded to 55 nonprofit organizations nationwide to provide much needed resources to help stabilize and revitalize communities undergoing change.
DHIC purchased Washington Terrace in January 2014 and conducted a year-long community and civic engagement process that resulted in the adoption of the current Washington Terrace Master Redevelopment Plan.
The multi-phase plan promises to replace, on a 1:1 basis, the existing 245 affordable units with new apartment homes for families and seniors. The first phase of the plan will feature the Village at Washington Terrace, offering 162 affordable apartment homes for families, a community clubhouse, green space, and a childcare center that will give priority to the Washington Terrace community. Phase II will feature Booker Park at Washington Terrace, 72 affordable apartment homes for active, independent seniors 62 and older.
“The Project Reinvest grant will help DHIC fulfill our commitment to create and preserve quality, affordable housing options for families and seniors in this part of Raleigh,” said Gregg Warren, President of DHIC. “After an extended planning and closing process, we are excited that we are weeks away from starting site work and getting construction underway.”
Starting in August, you may visit the DHIC website to receive regular updates on the pre-construction and construction phase of the Washington Terrace redevelopment plan.