Our Region, Your Investment Makes Sixth Investment
Our Region, Your Investment’s sixth loan is supporting the Arlington Partnership for Affordable Housing’s redevelopment of the former Arlington Presbyterian Church into Gilliam Place—an affordable housing complex that will create more than 170 homes for Arlington, Virginia’s low-income, disabled and/or homeless residents.
This impact investment will benefit a community facing an immediate shortage of affordable housing and undergoing major change and revitalization. Read our 2017 Social Return on Investment report for more information about the housing challenges working families face in this community.
With a well-located, well-designed, affordable home, Gilliam Place households will, on average, have an additional $3,455 in annual disposable income compared to a similar family paying the local fair-market rent. With that savings, families can purchase an entire year of unlimited rides on Metro with a Fast Pass. That extra income would also pay for a year’s worth of extended-day afterschool programs for two children.
Since Enterprise Community Loan Fund launched Our Region, Your Investment with the Washington Regional Association of Grantmakers in 2016, over $12 million has been invested to support the creation or preservation of more than 650 homes in Washington, D.C., Maryland, and Virginia. See the impact: