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City agencies, housing financiers warn unpaid rent is destabilizing affordable buildings; stabilization grants launched
Summary
Witnesses and agency leaders agreed unpaid rent and high delinquencies threaten preservation of District-financed affordable housing. DCHFA and DHCD described a stabilization effort including a $8.6 million portfolio stabilization grant rollout and HPTF being used for bridge funding; council pressed for long-term solutions.
During a March 3 oversight hearing, developers, housing providers and agency leaders described an affordability crisis that now includes high rent delinquencies and delinquent portfolios at some District-financed properties. DCHFA and DHCD told the Committee on Housing they altered priorities in late 2024 to stabilize existing projects rather than fund as many new projects because unpaid rent and rising delinquencies make some projects at risk of foreclosure.
DCHFA Executive Director Christopher Donald described rising rental delinquency as an industry-wide shock: "We're seeing at least 15% and up to 30% in some instances across the…
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