Behind The Scenes Of Entwine, Jair Lynch's Senior Project In Takoma
Jair Lynch Real Estate Partners is leasing up a new senior housing project that D.C. officials have touted as an important part of meeting the mayor's affordable housing goals.
Entwine, located at 218 Vine St. NW in Takoma, is a 129-unit all-affordable project that serves adults ages 55 and up. Jair Lynch expects to finish construction and welcome new residents in the fall.
The project's completion will help the District reach 12,000 new affordable housing units by 2025 and do so in an area that is more diverse and wealthier than many areas seeing the most affordable units rise, D.C. Department of Housing and Community Development interim Director Drew Hubbard said at a tour given to officials and attended by Bisnow in June.
"We know that we want great development partners to meet those goals," Hubbard said. "Projects like this coming out of the ground show what we're actually doing on behalf of our residents."
At Entwine, 26 apartments will serve individuals and families earning up to 30% of the area median income — no more than $35,160 — all but two of which will be permanent supportive housing units for residents transitioning out of homelessness.
Ninety of the units will be reserved for those making up to 50% of the AMI. An additional 13 units will be reserved for those making up to 60% AMI, according to the developer.
The building's amenities include a downstairs clubroom that opens onto a private courtyard and an upstairs event room, which also serves as a quiet room. Entwine will also have concierge service, a package room, a leasing office and a parking garage.
Entwine was financed in part through the Housing Production Trust Fund, receiving $13M in 2019. It received $11M in 9% Low-Income Housing Tax Credits and secured other financing from the Low Income Investment Fund, D.C. Housing Finance Agency, Wells Fargo, Walker & Dunlop and Freddie Mac.
Construction is in its final stages, and the developer said applications are currently being accepted.