Joseph W. King Senior Center | ||
Many senior members of First Rock Baptist Church either struggled to afford rapidly rising rents, or, instead, crowded into the homes of family members or friends. The church leadership knew that something had to be done to help alleviate the troubles of their elderly membership. Today, with the help of Mission First, First Rock Baptist Church has realized their goal. The J.W. King Senior Center, a 74-unit rental-assisted development, now houses seniors 62 years and older. In addition, the facility assists the younger generations of their church, as well. The first floor of the building houses a 7,000 square foot child development center to support the working parents of the community. Both the building’s residents and the parents who use the childcare services on the first floor will tell you how this development has transformed their lives in real and meaningful ways. The story of First Rock Baptist Church goes back to 1957 when it was founded by the Reverend Joseph W. King, Sr. to serve the Benning Heights community of Washington, DC. Under the leadership of Reverend King, the church formed a non-profit development corporation called the First Rock Baptist Church Foundation for the expressed purpose of providing decent, affordable housing opportunities and supportive family services to the elderly and youth. Through this non-profit group, the church acquired a parcel of land on which they constructed 15 single-family homes for low to moderate income families. However, in order for their vision to be complete, they needed to do something for the seniors of their church, as well. But the road to this goal proved to be very challenging for the leadership of the church. In 2002, with $600,000 invested, the parcel of land that was purchased in 1993 for this development was still just an empty lot and nowhere near the construction phase. The church leadership knew that some changes had to be made if they were going to realize their goal. Enter MissionFirst. After meeting with several other potential developers, the leadership of First Rock felt that MissionFirst had what they were looking for: first, the pedigree to get the job done, and, second, the people behind it who had a shared vision – people who really cared about making a difference. They were right. With MissionFirst on board, a project that had stalled for over ten years, moved into fast forward. Immediately, MissionFirst drew upon their financial expertise and leveraged their connections in the industry to create a public-private partnership among First Rock Baptist Church Foundation, MissionFirst and the D.C. Housing Finance Agency (HFA). With this partnership in place, MissionFirst was able to find the financial backing to make First Rock’s vision a reality. Through the partnership, they were able to obtain $5.1 million in AAA-rated tax-exempt bonds from the HFA through the risk-share loan program, a $2.1 million loan from the Department of Housing and Community Development, and almost $4 million in low-income housing tax credits. And notably, their partnership with the D.C. Housing Authority allowed MissionFirst to attain a Section 8 contract for the property to ensure that 100% of the units remain affordable over the next ten years – an achievement that was crucial to the ideology that motivated First Rock to build this center in the first place. In less than two years, MissionFirst enabled First Rock to bring the J.W. King Senior Center to completion. The 74-unit low-rise building consists of a combination of both one- and two-bedroom units, with a full 12 units being handicapped accessible. In keeping with their goal to provide affordable housing to the elderly, residents pay on a sliding scale, wherein they pay no more than 30 percent of their income. The bright and modern units include individual heat/air conditioning controls, state of the art kitchen amenities, including built-in microwaves in every unit, wall-to-wall carpet and a laundry room on each floor. The large community room and adjacent landscaped patio serve as the social hub for residents. Bringing further vitality to this living situation, interaction is encouraged between the senior residents and the youngsters who attend the daycare center on the first floor. The leadership of First Rock Baptist Church is certain that their founder, Joseph W. King, whose namesake the building bears, would be very proud that his congregation has continued to carry on the moral imperative to actively help the less fortunate of their community. Through their partnership with MissionFirst, First Rock has ensured that their senior members will have a safe and attractive environment in which to live with the pride and dignity that they deserve. Type of Project: New construction of urban infill affordable housing for seniors, including a childcare center for neighborhood children. Financing Program: Tax-Exempt Bonds through the District of Columbia Housing Finance Agency, Low-Income Housing Tax Credits, Housing Production Trust Fund. MissionFirst’s Role: Development Manager overseeing all aspects of project including: identifying and securing financing, securing equity investor, selecting and overseeing development team, overseeing construction through project stabilization, monitoring asset through stabilization. | ||
