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Deal Profile: Fort Chaplin Park Apartments
$94MM acquisition and renovation of a 549-unit multi-family
housing property in Washington, D.C.
All 549 units were at-risk of exiting the LIHTC program prior to
Standard’s acquisition
Acquired using LIHTCs and Tax-Exempt Bonds. All units are
restricted to 60% AMI
Largest Tax-Exempt Bond, Affordable Housing preservation
deal in D.C. history
The 8(bb) Preservation Tool was used to transfer an at-risk
Project-Based Section 8 contract from a property in Virginia to
Fort Chaplin Park Apartments, preserving 72 HAP units
Rehabilitation modernized unit interiors, addressed deferred
maintenance items, improved building systems and property
security, and added a 5,000 sq. ft. Community Center &
Clubhouse
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