DC Housing Authority – Technical Assistance
Audubon was selected through a competitive process to provide technical advisory services to the District of Columbia Housing Authority (“DCHA”) in 2013 and again in 2014.
Washington, D.C. – The District of Columbia Housing Authority (DCHA) is an award-winning, independent public agency that provides affordable housing for low-income families, seniors and people living with disabilities in the nation’s capital, one of the most expensive real estate markets in the country. DCHA works closely with residents, landlords, and the federal and DC governments to improve the quality of life in the District through better housing and diverse neighborhoods.
DCHA provides housing for approximately 10 percent of the city’s residents through three avenues:
- DCHA owns and operates 8,000 units of rental housing under its public housing program
- DCHA administers over 10,000 Housing Choice Vouchers (formerly Section 8), working in cooperation with more than 3,000 landlords all across DC
- Through the federal government’s HOPE VI competitive grant program, and by working with nonprofit and private developers, DCHA has developed vital mixed income communities where the city’s most distressed public housing projects once stood
During this engagement, Audubon led training sessions with DCHA staff to improve their internal technical capacity and underwrote several multilayered financing structures for senior management in addition to helping plan the RAD conversion of DCHA properties. DCHA relied on Audubon to evaluate the financial impact of various redevelopment initiatives, including leveraging both local and federal resources to improve and expand DCHA’s existing portfolio of assets.
Audubon was called on to evaluate bid proposals from the private sector to redevelop DCHA assets using public private partnerships and unconventional financing structures. Audubon reviewed, tested and recreated financial models in order to asses multiple facets of project viability. After a thorough underwriting, Audubon analyzed and summarized conclusions to present to senior DCHA staff members for evaluation.