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WinnCompanies Joins Washington Mayor Bowser to Celebrate Completion of $69 Million Renovation Project

WASHINGTON, D.C.– WinnCompanies, a national property development and management company, joined with Washington, DC Mayor Muriel Bowser to mark the completion of a $69 million renovation project.

The two-year, $69 million effort at Atlantic Gardens and Atlantic Terrace apartments, which have been renamed as Atlantic Apartment Homes, completely modernized the community’s homes and common areas, introduced new and enhanced social services for residents, and concluded with the installation of a 651 KW community renewable energy facility on the roofs of Atlantic Terrace.

The affordable nature of the community as critically needed Project-Based Section 8 housing has been guaranteed for at least until the year 2055, thanks to an extension of its Housing Assistance Payment contract and the use of Federal Low Income Housing Tax Credits and monies from the DC Housing Production Trust Fund.

Gilbert Winn

“This project not only dramatically improves the quality of life for more than 300 low-income families but also brings the promise of reduced electricity bills to hundreds more. It simply would not have happened without Mayor Bowser’s innovative housing and energy programs,” said WinnCompanies CEO Gilbert Winn. “The revitalized Atlantic Apartment Homes stand as a powerful symbol of our 35-year commitment to high quality multifamily development and management in Washington, DC.”

“Through this project we are making good on our commitment to give more Washingtonians the opportunity to participate in the District’s prosperity,” said Mayor Bowser. “Just as the creation of affordable housing is critical to the future of our city, so is the preservation of existing units. Today, we’re celebrating that nearly 300 families will be able to stay and grow in the community they call home.”

The U.S. Department of Housing & Urban Development, the DC Department of Housing and Community Development (DHCD), the DC Housing Finance Agency (DCHFA), Citi Community Capital, DC Sustainable Energy Utility (DCSEU) and Boston Financial Investment Management provide financing for the rehab.

The DC Department of Energy and Environment (DOEE) awarded a $1.3 million grant from its Solar for All program for the solar installation. The DC Sustainable Energy Utility (DCSEU), tasked by DOEE to reduce the District’s energy consumption, provided technical and financial assistance to enhance the property’s energy efficiency, increasing comfort for residents and reducing the community’s carbon footprint.

The rehabilitation modernized resident apartments, including kitchens, bathrooms, appliances, flooring, doors, lighting, plumbing, wiring, HVAC systems, smoke detectors and paint. Curbs, sidewalks, parking lots, gutters, fencing, lighting and landscaping also were repaired or improved. New learning centers were constructed at both properties; a new community room was created at Atlantic Gardens; and, the community room at Atlantic Terrace was expanded. Two new playgrounds were constructed at Atlantic Gardens and a third was upgraded at Atlantic Terrace. Security systems have been enhanced and laundry facilities expanded at both communities.

“The renovations that WinnCompanies completed have not only improved the lives of Atlantic Apartments residents, but also have improved and enriched the community itself,” said Derrick Langley, President of Atlantic Gardens Tenant Association.

In addition to the renovations, WinnResidential, the company’s property management arm, is collaborating with more than 30 high-impact local and regional non-profits in Washington D.C.’s Ward 8 to bring new and enhanced services to residents of Atlantic Apartment Homes, including an on-site Community Impact Center, providing financial and employment coaching, job placement coordination, family support and parenting education.

 

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