2 Units Currently Accepting Applications
Lower Unit – $350,000 – 2 bed 1 bath || Upper Unit – $450,000 – 3 bed 3 bath
Welcome to the Constitution Condominiums! A 3-bedroom, 3-bathroom Upper Unit and a 2-bedroom, 1-bathroom Lower Unit on a three-story walk-up row home in Capitol Hill. Located in the heart of DC, the Upper Unit comes with a back deck and parking space while both units have shared access to an exterior space. The unit comes solar equipped and the upper space can accommodate up to seven people while the lower space can accommodate up to four people.
Purchasers must meet all of the following:
Douglass CLT and Habitat DC-NOVA want to ensure that people who are normally priced out of homeownership have an opportunity to build some equity while keeping the home affordable for the next buyer. When (and if!) homeowners sell their house, the new price will be calculated so that they gain financially, but the home is still affordable to someone at a similar income level.
All program participants must complete 200-300 hours of “sweat equity,” or volunteer work. This may include working on the construction site, attending homeownership and financial literacy classes, and/or volunteering in the office or at special events.
These condominiums have affordability covenants, and maximum income limits apply. To qualify for purchasing these properties, a minimum family size of three for the upper unit and one for the lower unit as well as a median family income (MFI) of 30-80% are required.
| FAMILY SIZE | MINIMUM INCOME (30% OF MFI) | MAXIMUM INCOME (80% OF MFI) |
|---|---|---|
| 1 | $34,400 | $91,784 |
| 2 | $39,400 | $104,896 |
| 3 | $44,300 | $118,008 |
| 4 | $49,200 | $131,120 |
| 5 | $53,150 | $141,610 |
| 6 | $57,150 | $152,099 |
| 7 | $61,010 | $162,589 |
Watch this helpful video that walks you through all the eligibility requirements. You can also review the qualifications for the homes at Constitution Avenue.
This is still an active construction site so no one under 16 is allowed to enter the homes. We will have lenders on site if you’d like to apply for a pre-approval for the units while at the open house! If you are interested, please bring to the open house: ID, Last Two Paystubs, Last Two Years W2, Last Two Years Federal Taxes, Last Month Bank Statements.
Habitat DC-NOVA Homeowner Application:
Please email Eli Echavarria, Family Services Coordinator, at eli.echavarria@habitatdcnova.org and reference Constitution Avenue.
A home that will always be able to be affordable to families at or below 80% of the median family income because it is part of the Douglass Community Land Trust!
The previous owners paid it forward by selling their home at a much-reduced price and leaving several hundred thousand dollars in equity to stay with the home forever. This equity left in the home will be safeguarded by Douglass CLT, which has added even more subsidy to it so that a family at or below 80% MFI will always be able to afford it.
Subsidy initially invested in CLT properties is retained over time, serving generations of homeowners and occupants without requiring increasing subsidies at each successive sale to keep them affordable.
Douglass CLT will keep ownership of the land and sell only the building to the new buyer, issuing a 99-year land lease to the homeowner. That lease contains a resale agreement that says that if/ when they sell their home, the owner will sell at a price affordable to a family at or below 80% MFI.
Yes! First and most importantly, the home purchase should work so that you aren’t paying more too much for housing every month and you are able to save as you see fit.
Second, a Douglass CLT household’s wealth building is no different than other homeowners in that you can build equity by 1)paying down your mortgage loan; 2)getting a tax deduction for the mortgage interest; and 3)benefiting from market appreciation. The difference is that Douglass CLT Pay It Forward homeowners share with the next owner a portion of the increase in home value due to market appreciation. Additionally, owners can get credit for pre-approved physical improvements when they sell. Investment in real estate is never without risk, as no one can predict what will happen in the market, but Douglass CLT also includes safeguards against the worst outcomes if your family hits a rough patch.
Our Resale Formula allows for growth in equity without allowing home price to balloon, making the home affordable for the next purchaser – Paying It Forward!
The Constitution Condominiums are developed by Habitat for Humanity of Washington D.C. & Northern Virginia (Habitat DC-NOVA). This community was made possible in part by a partnership with Douglass Community Land Trust. That means that the land will belong to the Land Trust, and the home will belong to the homeowner. This allows the home to cost less and remain affordable forever, while the homeowner can still gain equity from the sale of the home. Learn more about the Douglass Community Land Trust.
Contact:
For additional questions, please get in touch with Eli Echavarria, Family Services Coordinator, at eli.echavarria@habitatdcnova.org
