Inclusionary Zoning Unit -Experience/Advice?

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Topic: Inclusionary Zoning Unit -Experience/Advice?

Announcements October 13, 2014 at 4:19 pm

Inclusionary Zoning Unit -Experience/Advice?

Hi everyone,

I applied for the housing lottery a while back and recently got a notification that I was one of the selectees chosen to purchase a unit in a new condo building. I’m not sure how many other people got the same notification, but I was obviously pretty excited that I might be able to own a condo for an affordable price. I have been told that other selectees and I will need to submit letters of interest, approval letters from lenders, and documents to verify our lower-income status.

My question is…what are the odds and how exactly does DCHD choose the individual who gets to purchase and inhabit the unit? I am confident in my ability to get a mortgage approval-but I haven’t lived in the city very long. My tax statements still use a previous address, in fact.

Anyone have experience with IZU buying? I shouldn’t get my hopes up…right?

1 Replies Add Reply

No personal experience, but from what I’ve read, getting financing for an IZU is easier said than done.

See the following:

Georgia Avenue Developer Sues City Over Inclusionary Zoning
Posted by Aaron Wiener on Dec. 14, 2012 at 1:11 pm

At Long Last, D.C. Sells Its First Inclusionary Zoning Unit
Posted by Aaron Wiener on Jul. 10, 2013 at 10:30 am

What Should D.C. Learn From Other Cities’ Inclusionary Zoning? (Not Much.)
Posted by Aaron Wiener on Aug. 20, 2013 at 1:51 pm

A few steps can fix Inclusionary Zoning
by Cheryl Cort • February 1, 2013

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