|
With an Enterprise loan, residents of the Texas Avenue Apartments in Washington, D.C., were able to buy their building and keep it from being converted to market rate. Photo: Lloyd Wolf |
|
This electronic newsletter covers the latest on affordable housing and community development progress in the Washington D.C. area.
First D.C. property to meet Green Communities standard featured on WAMU Radio. Galen Terrace supported with Enterprise grant and LIHTC investment. (July 18, 2008 | WAMU's Metro Connection)
Churches and Affordable Housing: Faith-based Organizations Fight to Provide Citizens Affordable Housing. (June 23, 2008 | WAMU's The Kojo Nnamdi Show)
With the passage of The Green Building Act of 2006, Washington, D.C. joined states and cities across the country in requiring green building design and construction. Residential projects (10,000 square feet and greater) located in the District of Columbia and receiving a minimum of 15 percent public financing will be required to meet or exceed the Green Communities 2006 criteria. (PDF, 355K)
Over the past 10 years, Enterprise’s Washington, D.C., office has invested more than $225 million to help:
- Create, preserve or rehabilitate more than 5,500 affordable homes in the metropolitan area for low- and moderate-income residents, including the transformation of a distressed public housing complex into Wheeler Creek Estates, to provide affordable and market-rate homes for 314 families.
- Develop more than 90,000 square feet of space for commercial and community facilities.
- Develop more than 300 affordable “green” homes meeting Enterprise’s Green Communities standard.
Over three years, Enterprise’s office in Washington, D.C., will help:
- Preserve or produce 3,000 quality, affordable homes.
- Commit $125 million in loans and equity to help community-based nonprofits increase affordable housing inventory.
- Invest $300,000 to support D.C. resident groups that want to exercise their “first right to purchase” and save their affordable housing from becoming more expensive market-rate housing.
- Demonstrate the critical link between providing affordable housing and resident services with five affordable housing developers: AHC, Community Preservation and Development Corporation, Jubilee Housing, Marshall Heights CDO and the Montgomery Housing Partnership.
- Provide expertise, grants and loans to support implementation of D.C. Green Building Act of 2006.
In 1996, after years of neglect by an absentee landlord, the city condemned Meridian Manor, a deteriorating apartment building in Columbia Heights. LeRoy Washington and his neighbors were forced out of their homes. Even though the neighborhood battled against drugs and crime, Meridian Manor provided the residents with an affordable home in a familiar neighborhood.
Washington decided to fight for his home and community and galvanized fellow residents. They won a lawsuit against their landlord and took ownership of the building. Enterprise, with several partners, rewarded his spirit and energy, providing financing for badly needed renovations at Meridian Manor. Washington was able to move back into a two-bedroom apartment with his daughter, where, until his death in 2005, he enjoyed his retirement years in the community he helped to revitalize.
More stories
The Annie E. Casey Foundation
Bank of America
The Morris and Gwendolyn Cafritz Foundation
Capital One
E-Trade
Fannie Mae
Freddie Mac Foundation
Living Cities
Eugene and Agnes E. Meyer Foundation
PNC
Sun Trust
Treasury Bank /Countrywide
Unitarian Universalist Church of Fairfax
Wachovia
Washington, D.C. Profile (PDF, 315KB, April 2007)
Washington, D.C.
10 G Street, NE, Suite 450
Washington, DC 20002
Phone 202.842.9190
Fax 202.842.9191
David Bowers
Local Office Director
Email David
Find us on Google Maps
|
|
