Mayor Bowser Announces 100 Million Investment in the Housing Production Trust Fund

Mayor Muriel Bowser announced a $100 million investment in the Housing Production Trust Fund during the ribbon-cutting for Riggs Crossing Senior Residences, a new affordable housing project. This development includes 93 units, with $25 million sourced from the Trust Fund. Bowser highlighted her administration's investment of over $1. 4 billion in affordable housing, which has increased the proportion of DC residents living in affordable housing from 9. 8% to 14% since 2015.

Riggs Crossing features 52 apartments for households below 30% of the Median Family Income and ten units designated for Permanent Supportive Housing. Deputy Mayor Nina Albert emphasized the importance of the proposed RENTAL Act to stabilize the housing market and improve investment conditions. The project aims to address the growing need for affordable housing for seniors, who are increasingly at risk of homelessness. True Ground Housing Partners, the lead developer, has committed to meeting the regional demand for affordable housing. The development also includes commercial space reserved for local retailers, fostering community economic growth.