Channing E. Phillips Homes

Channing E. Phillips Homes is an eight-story, 56-unit elevator served affordable multi-family apartment community located in Washington, DC.  Built in 2016 with HUD-insured financing, the property was recently refinanced with a new $7,427,800 HUD insured Section 223(a)(7) mortgage to reduce the fixed interest rate and mortgage insurance premium while extending the term of the mortgage back to the original term of 40 years.  Apartments are fully equipped, including in-unit washer and dryers.  All of the community’s units have income restrictions for households earning up to 60% of area median income (AMI).