Wednesday, August 31, 2016

WAMU post: "D.C. Takes Homes From Developer, Plans To Turn Them Into Affordable Housing"

In case you missed this from Monday.

Click on the link to read the entire WAMU story.



D.C. Takes Homes From Developer, Plans To Turn Them Into Affordable Housing
City’s punishment of house flipper Insun Hofgard continues
By: Martin Austermuhle
August 29, 2016

A Virginia developer planned to turn the six properties into luxury housing and sell them for top dollar. Instead, the D.C. government has taken the six homes in some of the city's hottest neighborhoods — and plans to use them for affordable housing.
 
Late last month, D.C. Attorney General Karl Racine claimed eminent domain and took six rowhomes owned by Virginia developer Insun Hofgard, who earlier this summer agreed to pay $1.3 million in restitution to buyers of close to two-dozen of her renovated properties — many of which were marked by shoddy work and violations of the city's construction code.
        
The homes — in Bloomingdale, Petworth, Columbia Heights, and Edgewood — will be handed over to the D.C. Department of Housing and Community Development, which says it plans to convert them to affordable housing for low-income residents.
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