HACA has selected Community Housing Partners Corporation (CHP) to redevelop the existing public housing development of Bloomsbury Square. CHP is expected to manage the property after the financial closing. The project consists of the acquisition and rehabilitation of 51 residential units as well as the community building and management offices on site. However, with over 20 years of use, it has not had significant capital improvements. Rents will be restricted to households earning between 30% - 60% of AMI. The project, built in 2003, provides 51households with quality affordable housing: (14) one bedroom, (18) two-bedroom and (19) three-bedroom units.

The proposed rehabilitation will address major systems, including repairs to floors and

removal of all carpets to be replaced with vinyl plan flooring, new cabinets and counters, new energy efficient appliances and all electric HVAC systems. Accessible units will be altered to meet current accessibility standards.

Project financing sources include tax exempt bond financing during construction, a Freddie TEL permanent loan, Rental Housing Works and Partnership Rental Housing Program funding from Maryland DHCD, seller financing, local HOME funds and Low-Income Housing Tax Credits (LIHTC). This is a $27.4 million rehabilitation project. CHP has been awarded 4% tax credits by the state. The closing of financing is expected to be in February/March 2027.

CHP and HACA will continue to hold meetings with the community at Bloomsbury Square to get their input as the redevelopment process progresses. The residents will have a right to return once the redevelopment is completed.