- 183 units of affordable family housing
- Spacious 1, 2 and 3-bedroom units with private balconies
- Preservation of affordable housing
- Total rehabilitation of 10-story high-rise
- On-site playground and community room
- Section 8 subsidies for all units
GRA Properties Limited Partnership
The Henson Development Company, Inc.
Golden Rule Apartments, Inc.
Hamel Builders, Inc.
Columbus Property Management & Development, Inc.
- US Department of Housing and Urban Development
- District of Columbia Department of Housing and Community Development
- District of Columbia Housing Finance Agency
- Deutsche Bank Berkshire Mortgage
- RBC Capital Markets
This 183-unit multifamily affordable housing complex was built in the early 1970’s as an initiative of Bible Way Church to meet the community’s need for affordable housing. Thirty years later, the building had a rising vacancy rate and was in need of major renovations.
In 2006, Golden Rule Apartments, Inc. (a development affiliate of Bible Way Church) partnered with MissionFirst Development and The Henson Development Company to undertake a total renovation of the building. Without displacing a single resident, the building was totally updated with new kitchens, baths, windows, doors and life and safety equipment.
MissionFirst served as the development manager overseeing all aspects of project, including identifying and securing financing, securing the equity investor, selecting and overseeing the development team, overseeing project through stabilization, and monitoring the asset during operation. Construction was completed in February 2008.
Golden Rule Apartments Management Office