top of page

Meeting a Need for Affordable Housing!

Seabury Resources for Aging® recently closed on a refinancing loan for Friendship Terrace, its 180-unit affordable senior living apartment community located in Tenleytown. This refinancing assures the long-term viability of Friendship Terrace, which has filled the void of affordable housing for seniors in Ward 3 since 1970.

Funds made available through refinancing allow for building repairs and modernization, including a new roof with solar panels, and efficient mechanical systems. A food subsidy trust will also be established to reduce the cost of meals to eligible residents as a part of a food insecurity mitigation strategy.


Seabury worked with the U.S. Department of Housing and Urban Development (HUD) and the DC Housing Authority to structure the $16 million refinancing, which includes securing 125 new project-based vouchers for the Friendship Terrace community. This brings the total number of vouchers available for low-income seniors to 165 units and ensures Friendship Terrace residents residing in vouchered units will not pay more than 30 percent of their income for rent.


Featured Posts
Recent Posts
Search By Tags
Follow Us
  • Facebook Basic Square
  • Twitter Basic Square
  • Google+ Basic Square
bottom of page