​​​​​​​This ground-up projected involved the conversion of the existing single family home located at 1417 Spring St NW.
​​​​​​​This ground-up projected involved the conversion of the existing single family home located at 1417 Spring St NW into a fully legal three-unit rental building. Each unit offers three bedrooms and one bathroom and each unit is separately metered for electricity. All systems have been replaced as part of the renovations and all mechanicals and cooking systems are electric.
This project was developed specifically as a three-unit rental, but could just as easily be an owner occupied property with one or two investment units. What makes this investment particularly attractive is the option for the future owner(s) to participate in the DC Voucher Housing Program at rental rates that exceed the market rate for this type and size of rental accommodation.
The Voucher Housing Program serves an invaluable role in one of the Nation’s most expensive housing markets, providing housing for low to moderate income families that would otherwise be unable to afford to live in the immediate area. Recent numbers available through the DC Housing Program website state that over 10,500 families/landlords are currently participating in the program in the City and that thousands of tenants are on the waiting list for eligible properties. As part of the sales process the developer for this project is making sure it is properly inspected and certified through the DC Housing Program as an eligible property for the Voucher Program.
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