Washington, D.C. is consistently ranked among the top 10 most expensive U.S. cities to rent. But that could change in the next few years. According to a Bisnow report, Mayor Muriel Bowser announced last week that D.C. will invest $75 million to build and preserve affordable housing across the city. 

“The Housing Production Trust Fund projects and the EAHP enhancements support two of my administration’s top priorities: making housing more affordable for residents and building a safer, stronger DC,” said Mayor Bowser in a statement. “Today, we are not only making it easier to attract and retain world-class first responders, we are providing new townhomes for families, affordable housing for seniors, and permanent supportive housing for those experiencing homelessness.” 

Funding for the affordable housing initiative comes from the Housing Production Trust Fund, a fund administered by the city’s Department of Housing and Community Development responsible for financing projects that provide affordable housing options for low and moderate-income households.

The new initiative will fund over 500 affordable housing units across eight different projects in neighborhoods like Chevy Chase, Brookland, Petworth, Anacostia, and Mount Vernon Triangle.

More information on the affordable housing initiatives is available on the Office of the Mayor’s website.