Since 2002, the Housing Production Trust Fund (HPTF) has been helping to create vibrant neighborhoods in the District of Columbia as the key tool for preserving and developing affordable housing. The Trust Fund, administered by the DC Department of Housing and Community Development, enabled nonprofit housing providers, mission-driven for profit developers, and renters wishing to exercise their Tenant Opportunity to Purchase Act rights to complete over 7,500 units with hundreds more on the way.
Properties benefiting from the Housing Production Trust Fund can be found all over Washington, DC, impacting families and individuals, renters and home owners, as well as the communities in which they live. This flexible tool has helped keep residents in changing neighborhoods like Mount Pleasant, rehabilitated blighted and vacant buildings, and helped renters become homeowners. The Housing Production Trust Fund is an important tool for our communities.
Highlights of the Housing Production Trust Fund:
- It has produced and preserved over 7,500 units of affordable housing across every Ward in the District
- Estimated conservatively, more than 15,000 DC residents currently live in units funded by the Trust Fund
- It has invested $320 million in DC neighborhoods and leveraged an additional $794 million of financing from private and other sources, for a total of $1.1 billion in development
- For every dollar invested from the Trust Fund, $2.50 was invested from other sources
- It has created an estimated ten thousand short-term and permanent jobs
- It has strong guidelines that prescribe levels of affordability, length of affordability, and use that make sure it is used to serve District residents with the greatest housing need
- It has been used to add or improve housing across the Continuum of Housing: supportive housing, affordable rental housing, and affordable ownership housing
- When used with DC’s Tenant Opportunity to Purchase Act, it provides tenants with the opportunity to stay in their homes and preserve affordable housing for themselves and their neighbors