Washington Construction News staff writer
The District is launching a new housing program to promote the construction of more residential units downtown. The goal is to add 15,000 new people living in downtown Washington, D.C., by 2028.
The Housing in Downtown program includes a $41 million tax abatement program to incentivize developers to build new homes. The program is expected to support the construction of new office-to-residential units.
Mayor Muriel Bowser announced the program’s launch on Monday, March 11, and said that the city had already seen the success of other office-to-residential conversions in downtown Washington, such as the Elle apartments.
The Elle apartments, which are currently under construction, will include 163 residential units in the heart of downtown.
The city also plans to promote the development of cultural and entertainment corridors, expand university uses, and develop a large tech hub in downtown Washington, D.C., as part of the Golden Triangle and DowntownDC BIDs.
The city expects that the Housing in Downtown program will help to diversify the downtown area and attract new residents.
The program is open to developers of residential units, office-to-residential units, and hotel/or-residential units located in downtown Washington, D.C. The program will provide incentives for developers to build new units and is expected to support the construction of more residential units in the Golden Triangle and DowntownDC BIDs.
The submission window for applications will open on Friday, March 22 and applications will be considered on a rolling basis.
