Ox Fibre Apartments: Affordable Workforce Housing
Persistently high housing costs are driving extreme demand for affordable housing throughout the United States. Significant incentive programs exist for the development of affordable housing, but complex capital structures and long-term rent restrictions disincentivize many private developers.
Broad Creek Capital is a co-developer of Ox Fibre Apartments, a dilapidated historic industrial complex that will be converted into an 83-unit affordable apartment complex outside of Washington, DC. The project utilizes an innovative financing structure which includes opportunity zone funds, historic tax credits, low income house tax credits, and federal and county financing.
At completion, the project will provide new, centrally-located workforce housing.
