September 28, 2016
September 28, 2016- NDC Corporate Equity Fund XI announced a LIHTC closing for an $11.2 million renovation of Pomeroy Gardens. The project provides 60-units of family rental housing, and was completed in partnership with The Non-Profit Community Development Corporation of Washington DC, Inc.
Pomeroy Gardens is located in the Barry Farm Neighborhood of Southeast Washington, DC, in close proximity to Congress Heights and Anacostia Metro Stations. The renovation will include general exterior refurbishment, comprising masonry cleaning, repairs to steel deck, new roofing and roof deck repair and replacing uninsulated aluminum windows. Interior renovations will include complete kitchen and bathroom refurbishment, new floor finishes, new security and access control hardware and a new gas service will be installed in all apartments. The project was financed with equity investment in a LIHTC partnership, 58 of the 60 units are set aside for families earning 60% of AMI. The project includes 50 2-bedroom units and 10 3-bedroom units.