Internal releases and external coverage.

Jubilee Housing Awarded Competitive HAPP Grant for King Emmanuel Baptist Church Project

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Jubilee Housing is among several local organizations to receive Housing Affordability Planning Program grants from the Metropolitan Washington Council of Governments.

The $75,000 grant will aid Jubilee Housing in our pre-development process for the King Emmanuel Baptist Church (KEB) Project. The KEB Project will redevelop the historically Black church built in 1907 and complete the first and only full continuum of housing and services for returning citizens in DC, based on the successful Fortune Society program in New York.

Reentry Outreach Coordinator Ingrid Mahogany and Program Graduate Jennifer meet at the Women’s House

KEB will provide 18 units for women and men returning from incarceration in Jubilee’s Reentry Program, which includes weekly meetings, individual case management, support maintaining sobriety and health, employment assistance, and financial empowerment training. Residents also have access to our broader Resident Services offerings and wraparound supports.

Jubilee’s existing program, founded in 2011 following a successful pilot program, has supported more than 450 returning citizens during its tenure. Transitional Men’s and Women’s Houses in Adams Morgan each serve up to ten individuals at a time, and onsite staff provide case management, financial education, employment assistance, and recovery programs. Jubilee also has long-term affordable apartments for residents who have transitioned out of the program and are seeking a structured environment and services that support their continued well-being.

COO David Jefferson and Reentry Graduate & Advocate David Schultz shake hands at the adjacent Ontario Place project site

Jubilee staff have been fortunate to witness the success and growth of many residents over the years. We have seen the powerful impact that an affordable apartment in a safe and supportive environment with tailored wraparound services can have not just for the recovery and well-being of residents, but for the city as a whole.

We are honored to receive a HAPP grant, which provides critical funding to advance this project and Jubilee’s mission to create diverse, compassionate communities with opportunities for everyone to thrive through Justice Housing® — deeply affordable homes, with onsite and nearby services, in resource-rich neighborhoods.

WUSA9 Feature: Jubilee x Solar!

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Renewable energy is often considered exclusive to those with money and resources, but it doesn’t have to be. As part of an environmental justice program called Solar For All, Jubilee partners with PepcoConnect, DC Department of Energy & Environment, and New Partners Community Solar to bring solar energy to our residents.

Our first solar panels were installed on the Maycroft, bringing participating residents an average credit of $40-50 per month on their electric bills. The Maycroft’s panels also power backup batteries that can last for up to three days, turning the Teen Center into a Resiliency Center where residents can shelter in place in the case of a grid-wide shutdown.

A new expansion to Solar For All will install solar panels on the roof of Pepco’s HQ, allowing even more Jubilee residents access to the benefits of this program.

In this feature with WUSA9, listen to Jubilee resident and longtime board member Samuel Buggs speak about what Solar For All means to him and his neighbors in the Maycroft:

Interested in learning more about Jubilee’s approach to people and social impact? Join us for our Annual Justice Housing Breakfast on June 7th and hear from our residents about the ways justice housing has touched their lives!

Jubilee Housing Awarded Nearly $2.2M in Grants from Amazon Housing Equity Fund and National Fair Housing Alliance

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Header Photo: The Fuller is one of four buildings for development in Phase I, and one of seven supported by the newly announced grants. An addition at The Fuller will enable Jubilee to enroll more students in its Early Start (K–3rd) afterschool and summer programs. Courtesy of Jubilee Housing

(WASHINGTON, D.C.) — Jubilee Housing has been awarded a $2 million grant from the Amazon Housing Equity Fund and a $185,000 grant from the National Fair Housing Alliance (NFHA)’s Inclusive Communities Fund to further the organization’s mission to create and preserve justice housing — high quality, deeply affordable housing with supportive services in Washington, DC’s resource-rich Ward 1 neighborhoods of Adams Morgan and Mount Pleasant.   

“We are grateful to the Amazon Housing Equity Fund and the National Fair Housing Alliance’s Inclusive Communities Fund for these grants, which will help us continue to provide justice housing to families who face the greatest structural barriers to finding a home they can afford in a location where they can thrive,” said Jim Knight, President and CEO of Jubilee Housing. “Approximately two-thirds of Jubilee’s units are reserved for households making 30% or less than DC’s median family income, or just $43,000 for a family of four.”

The Amazon Housing Equity Fund’s $2 million grant will support Jubilee’s Phase I Project, which will renovate four properties totaling 118 units in Adams Morgan: The Ritz, The Mozart, The Fuller, and The Marietta. These renovations will ensure properties remain high quality and will include updated kitchens, bathrooms, and building accessibility. The project will also install solar panels that provide credits directly to residents through a partnership with New Partners Community Solar, PEPCO, and DC’s Solar for All program. A similar program already in place at Jubilee’s Maycroft building sees an average monthly credit of $40–$50 on residents’ utility bills.

Phase I will also include the redevelopment of spaces for Jubilee’s onsite supportive services, a critical pillar of Jubilee’s justice housing model. The ground floor space at The Ritz will be reconfigured to better host a growing slate of programs focused on housing stability, food security, financial empowerment, health and wellness, and community building. An addition at The Fuller will enable Jubilee to enroll more students in its Early Start (K–3rd) afterschool and summer programs.

“We are delighted to provide our support to Jubilee Housing so that these 118 homes can stay affordable,” said Senthil Sankaran, principal of the Amazon Housing Equity Fund. “The fact that these homes will remain deeply affordable and that they will be adjacent to services that will help residents thrive makes this an ideal match for the Housing Equity Fund.”

Phase I renovations are expected to begin in December 2023.

NFHA’s Inclusive Communities Fund grants were made available as part of last year’s historic settlement with Fannie Mae that provided $35 million to promote homeownership, neighborhood stabilization, access to credit, property rehabilitation, and residential development. The Inclusive Communities Fund Grant Program invests fair housing settlement funds intended for community relief into neighborhoods or populations destabilized by housing discrimination.

“Too many neighborhoods have been destabilized by systemic housing discrimination. We are ready to invest in these areas to rebuild communities of color,” said Lisa Rice, President and CEO of NFHA. “By partnering with these organizations, we will revitalize block after block, the neighborhoods most impacted by the 2008 Mortgage Crisis, and build more inclusive and equitable communities. We look forward to working with our partners to ensure everyone has access to safe, sustainable, and fair housing choices and well-resourced neighborhoods.”

NHFA’s $185,000 grant to Jubilee will support the development planning for three properties in the Mount Pleasant Preservation project, which will create 135 new units of deeply affordable housing in the vibrant Mount Pleasant neighborhood. The buildings were acquired by Jubilee in October 2022 through a partnership with tenants under DC’s Tenant Opportunity to Purchase Act. Before renovations take place, Jubilee staff is meeting with residents to assess each household’s composition, which will inform architectural design and unit reconfiguration to match resident needs. Jubilee will use a portion of the NHFA funding to support project staffing costs and architectural design work ahead of building renovations, which are expected to begin in 2024.

About Jubilee Housing
Jubilee Housing builds diverse, compassionate communities that create opportunities for everyone to thrive. We do this by building justice through housing — justice housingTM. Homes are deeply affordable for families with low incomes and those facing the greatest barriers to housing, have onsite and nearby services to address additional systemic barriers to thriving beyond housing, and are located in resource rich neighborhoods with access to high performing schools, transit, grocery stores, and employment. For more information, visit www.jubileehousing.org.

About the Amazon Housing Equity Fund
Amazon’s Housing Equity Fund is a more than $2 billion commitment to help preserve and create affordable, inclusive housing developments through low-rate loans and grants to housing partners, traditional and non-traditional public agencies, and minority-led organizations.

About the National Fair Housing Alliance
The National Fair Housing Alliance (NFHA) is the country’s only national civil rights organization dedicated solely to eliminating all forms of housing and lending discrimination and ensuring equal opportunities for all people. As the trade association for over 170 fair housing and justice-centered organizations throughout the U.S. and its territories, NFHA works to dismantle longstanding barriers to equity and build diverse, inclusive, well-resourced communities.

Mayor Muriel Bowser, Other Regional Leaders Break Ground on EucKal Project with Jubilee Housing and Sitar Arts Center

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New Buildings Will Feature Fifty Units of Affordable Housing in Ward 1 and Expand Sitar’s Arts Education and Workforce Development Programming

WASHINGTON, D.C. — Mayor Muriel Bowser, Ward 1 Councilmember Brianne K. Nadeau, Jubilee Housing and Sitar Arts Center leadership, and other distinguished leaders broke ground Wednesday, November 2, 2022 on two new Jubilee Housing buildings—1724 Kalorama Road NW and 1460 Euclid Street NW. The buildings will feature fifty total units of affordable housing for families in Ward 1. Sitar Next Door, an expansion of Sitar Arts Center for youth arts education and workforce development, will occupy the ground floor of the 22,000-square-foot mixed-use space of 1724 Kalorama Road NW. 

“Our community’s call for Sitar Arts Center to expand grows louder every day. Young adults are seeking alternative, local pathways for arts training and to build skills and careers in the creative industries. At the same time, families of young children need affordable, high-quality afterschool and summer arts learning. We now have the extraordinary opportunity to answer this call and grow in place,” said Maureen Dwyer, Executive Director of Sitar Arts Center. 

The launch of Sitar Next Door will allow Sitar to enroll hundreds more school-aged students in affordable afterschool and summer arts education programs each year. The 6,346-square-foot space will include a recording and sound engineering studio, a S.T.E.A.M. lab, flexible performance space, and new arts learning studios. 

“When we call on the community to work with us on innovative ways to add more affordable housing, these are the types of projects we are talking about,” said Mayor Bowser. “Not only will these two projects keep 50 families in our city, we are also expanding opportunities for our young people to learn and grow in a world-class arts center.”

The space at 1724 Kalorama Road NW was acquired by Jubilee Housing in 2018 and will also offer affordable multi-family housing. Two-thirds of the 25 units will be two- and three-bedroom units, addressing a citywide need for family-sized apartments. Two-thirds of the units will also be reserved for families earning at or below 30% of the area median income. 

The Euclid Street property, also acquired in 2018 after the tenant association assigned its right to purchase to Jubilee Housing through the District’s Tenant Opportunity to Purchase Act (TOPA), will preserve 25 units of deeply affordable housing, including five three-bedroom and two four-bedroom units.  

“As we begin to rebound from the pandemic, it is critical to invest in initiatives that provide access to prosperity for residents with fewer financial resources. Locating deeply affordable housing in resource rich neighborhoods helps connect residents to greater opportunity, while promoting greater inclusion and equity for the city as a whole,” said Jubilee Housing CEO Jim Knight.

Construction on the buildings is expected to begin immediately and the buildings are due to be fully occupied in 2024.

1724 Kalorama Road NW and 1490 Euclid Street NW

About Jubilee Housing 
The mission of Jubilee Housing is to build diverse, compassionate communities that create opportunities for everyone to thrive. We do this by building justice through housing — justice housingTM. Homes are deeply affordable for families with low incomes and those facing the greatest barriers to housing, have onsite and nearby services to address additional systemic barriers to thriving beyond housing, and are located in resource rich neighborhoods with access to good schools, transit, grocery stores, and employment. For more information, visit www.jubileehousing.org. 

About Sitar Arts Center  
Founded in 2000, Sitar Arts Center is a multidisciplinary arts center providing affordable, high quality education and workforce development in the visual, performing, and digital arts. Sitar Arts Center engages DC youth, from early childhood to young adulthood, in building a creative community of learning and belonging that removes financial and cultural barriers to arts education and career training. Sitar envisions a city in which all young people experience transformative moments through quality, accessible arts education and career training, and are supported on their path to discover their creativity and achieve their full potential. For more information, visit www.sitarartscenter.org. For more information on Sitar Next Door, visit www.nextstage.sitarartscenter.org.

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Jubilee Housing Acquires Three New Properties for Affordable Housing in Mount Pleasant

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Thanks to a partnership with tenants under D.C.’s Tenant Opportunity to Purchase Act and financing from United Bank, Amazon’s Housing Equity Fund, LISC DC, and Justice Housing Partners 2.0, the Mount Pleasant Preservation Project will redevelop 165 units into affordable housing with supportive services.

(WASHINGTON, D.C.) — On October 7, 2022, Jubilee Housing closed on the acquisition of three properties totaling 165 units of housing for the Mount Pleasant Preservation Project. The project will advance the properties for substantial rehabilitation that will establish perpetual affordability. Jubilee has been embedded in Ward 1 for nearly 50 years, and this move signifies a continued expansion of its nonprofit mission to create justice housing — deeply affordable homes, with onsite and nearby services, in resource rich neighborhoods.

The three buildings — Sarbin Towers, Park Marconi, and Richman Towers — were acquired when tenants exercised their rights under D.C.’s Tenant Opportunity to Purchase Act (TOPA). Tenant associations for each building organized and asked Jubilee to partner, receive an assignment of the tenants’ right purchase, renovate the buildings, and maintain rent affordability in perpetuity. After assessing feasibility, Jubilee negotiated a development agreement with each tenant association and began the acquisition process.

“We are delighted that three tenant associations selected Jubilee to partner with them to deliver deep affordability for properties that have long stood as fixtures in the 16th Street corridor, helping to preserve the richness of cultural diversity for the neighborhood,” says Jim Knight, President and CEO of Jubilee Housing.

The purchases are made possible through financing provided by United Bank, a longtime partner who has assisted with acquisition of 285 units within the last few years; Amazon, who is providing $15 million through its Housing Equity Fund; LISC DC; and Justice Housing Partners 2.0, an impact investment fund.

“We’re proud to partner with Jubilee Housing and to help bring the Mount Pleasant Preservation Project — and these 165 affordable homes — to the community,” said Catherine Buell, director of the Amazon Housing Equity Fund. “This collaboration is part of our recently announced $147 million commitment to help create and preserve 1,260 affordable homes across D.C.”

Amazon’s Housing Equity Fund commitment will be rolled over into permanent financing, ensuring that rents can be affordable for families making less than 40% and 50% of the Family Median Income.

Additionally, the project marks the initial investment of the Justice Housing Partners Fund 2.0, which provides low-cost acquisition capital that enables Jubilee to better compete against market forces. Under the Justice Housing Partners model, a three to five year investment leverages more than eight dollars for every dollar invested, and yields a social return for multiple generations of Washingtonians with very low incomes.

Building renovations are expected to begin in 2024. Before renovations take place, Jubilee staff is meeting with residents to assess each household’s composition and income. Household composition data will inform architectural design and unit reconfiguration to match resident needs. Income data will guide post-rehab rent levels, financial projections, and subsidy sources available for tenants.

Residents will also have access to onsite and nearby supportive services, which Jubilee provides in-house and through a network of partners. These programs include affordable early childhood education, K–12 afterschool programming, a Teen Center, Jubilee to College scholarships, and tailored services for adults and families to assist with financial empowerment, food security, community connection, aging in place, and more.

The Mount Pleasant Preservation Project expands upon an additional four properties that Jubilee is developing in Adams Morgan and Columbia Heights. Those four developments — grouped into two projects called EucKal and OntKEB — are expected to break ground in 2022 and 2023. In total, the seven properties will create 285 units of justice housing, nearly doubling Jubilee Housing’s impact in its core Ward 1 neighborhoods.

About Jubilee Housing

The mission of Jubilee Housing is to build diverse, compassionate communities that create opportunities for everyone to thrive. We do this by building justice through housing — justice housingTM. Homes are deeply affordable for families with low incomes and those facing the greatest barriers to housing, have onsite and nearby services to address additional systemic barriers to thriving beyond housing, and are located in resource rich neighborhoods with access to good schools, transit, grocery stores, and employment. For more information, visit www.jubileehousing.org.

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Jubilee’s Ontario Place Development Advances

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DC Fair Shot February kickoff announces Mayor Muriel Bowser and Department of Housing and Community Development’s selection of Jubilee Housing’s Ontario Place development bringing 52 units of deeply affordable housing and an innovative aquaponics farm to Ward 1.

WASHINGTON, D.C.—On February 2nd, 2022, Mayor Muriel Bowser and the Department of Housing and Community Development (DHCD) announced that Jubilee Housing’s Ontario Place has been selected to advance to the next stage of underwriting for the Department of Housing and Community Development’s (DHCD) 2021 Consolidated RFP round.

As such, Mayor Bowser’s commitment to “new affordable housing” is exemplified in Jubilee’s RFP selection. The Mayor commented February 2, 2022—“I set bold goals for new housing, for new affordable housing, and for new affordable housing in every neighborhood of the District because we know where you live affects your pathway to the middle class. Today’s selections move us closer to all three of those goals and particularly moving us to a more equitable distribution of affordable housing in the city.”

Jubilee Housing is honored to be selected by Mayor Muriel Bowser and the Department of Housing and Community Development (DHCD) to help the District advance towards the goal of creating 12,000 affordable homes by 2025. This selection paves the way for construction on this shovel-ready project that will provide expansion to Jubilee’s deeply affordable housing portfolio.

Jubilee Housing creates justice through housing—Justice Housing™. It is deeply affordable housing, in resource rich neighborhoods, with onsite and nearby wrap-around services. Two-thirds of units are reserved for households earning 30% or below of the MFI, and one-third of units are reserved for households earning at 60% or below the MFI.

Jubilee Housing’s work in providing justice through housing is inspired by economist Harvard Professor Raj Chetty’s research on wealth disparity, which concluded that zip code is the biggest determinant of future wealth. Furthermore, Jubilee Housing provides much more than housing in pursuit of our founders’ desires to address racial and economic divides.

“We are grateful for the opportunity to continue our work in advancing equity through housing. As we begin to rebound from the pandemic, it is critical to invest in initiatives that provide access to prosperity for residents with fewer financial resources. Locating deeply affordable housing in resource-rich neighborhoods helps connect residents to greater opportunity, while promoting greater inclusion and equity for the city as a whole,” said Jubilee Housing President & CEO, Jim Knight.

Jubilee’s project selection is for the planned development of 2400 Ontario Road, NW which will be razed and a new building will be built in its place. This new property will provide 52 housing units, half of which will be reserved for returning citizens with the other half comprising a mix of family-sized apartments to address the ever-growing burden on families with limited incomes. The project sits adjacent to King Emmanuel Baptist Church (KEB) located at 1721-1725 Kalorama Road, NW, totaling almost 6,000 square feet and includes constructing 18 much needed single occupancy units for returning citizens, a resource center for residents, and a communal kitchen and dining space for the housing community. Together the two properties will complete Jubilee Housing’s continuum of housing for returning citizens.

In addition, Ontario Place will be home to an innovative aquaponics facility, planned with research and evaluation provided by Georgetown University’s Steers Center for Global Real Estate, and infrastructure and design by FreshMinistries—a non-profit located in Jacksonville, Florida—will produce around 13,000 plants per month and directly contribute to other workforce development programs hosted on site. Half of the produce will be used to help feed the housing community while the other half is sold at market to generate income and offset program costs. “It’s almost too good to be true, being able to provide quality food on a consistent basis in a place with limited resources is invaluable,” said Fresh Ministries Founder, Chairman and CEO Rev. Dr. Robert V. Lee III.

This selection follows DHCD’s selection of Jubilee’s EucKal project for the development of 1724 Kalorama NW and 1460 Euclid Street NW. Jubilee expects to close on construction/permanent financing later this year and begin a yearlong renovation of the currently vacant properties. When complete, the project will deliver 50 units of deeply affordable homes as well as an expanded Sitar Arts Center and office space for Jubilee Housing at the Kalorama site.

EucKal Project Advances

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Mayor Muriel Bowser and the Department of Housing and Community Development (DHCD) announced the selection of Jubilee Housing’s EucKal project to develop 50 units of deeply affordable housing in Adams Morgan and Columbia Heights

Washington, D.C.—March 29, 2021— Jubilee Housing’s EucKal project has been selected to advance to the next stage of underwriting for the Department of Housing and Community Development’s (DHCD) 2019 Consolidated RFP round.

Jubilee Housing is honored to be selected by Mayor Muriel Bowser and the Department of Housing and Community Development (DHCD) to help the District advance towards the goal of creating 12,000 affordable homes by 2025.

The EucKal project, which includes two properties – 1724 Kalorama Road NW and 1460 Euclid Street NW – will create 50 units of justice housing in Ward 1’s neighborhoods of Adams Morgan and Columbia Heights. The properties were both acquired in 2018, using acquisition financing from United Bank, LISC and the Justice Housing Partners Fund.

“As we begin to rebound from the pandemic, it is critical to invest in initiatives that provide access to prosperity for residents with fewer financial resources. Locating deeply affordable housing in resource rich neighborhoods helps connect residents to greater opportunity, while promoting greater inclusion and equity for the city as a whole,” said Jubilee Housing CEO Jim Knight.

1460 Euclid Street NW was acquired under DC’s Tenant Opportunity to Purchase ACT (TOPA). This new addition to Jubilee’s portfolio will preserve 25 units of deeply affordable housing for hardworking families in Columbia Heights, including five 3-bedroom and two 4-bedroom units.

1724 Kalorama Road NW is a 22,000 square foot vacant commercial building that will be redeveloped into a five-story mixed-use building offering affordable multi-family housing and valuable community services. Once renovated, two-thirds of the 25 units will be two and three bedroom units addressing a citywide need for family-size apartments. In addition, the approximately 6,000 square foot ground floor will allow Sitar Arts Center to expand their summer youth arts program and digital media program for young adults.

“This will allow Sitar to expand all of our current programming, and especially Camp Sitar, that always has a long waitlist of families seeking high quality, affordable summer learning. Sitar’s goals for expanded programming are needed now more than ever,” said Maureen Dwyer, executive director, Sitar Center.

Board Chair Alex Orfinger Named Publisher of Washington Business Journal

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Header Photo: Former Jubilee board member Lizzie Bebber, current board member Pat Mathews, and Board Chair Alex Orfinger.

Jubilee Housing congratulates Alex Orfinger, chair of Jubilee Housing’s Board of Directors, on his return to the role of publisher and market president of the Washington Business Journal.

Orfinger held this role from 1996 to 2014, before accepting a position with American City Business Journals, Washington Business Journal’s parent company.

Orfinger has served on the Jubilee Housing board for three years. He became chair in 2019 and was instrumental in helping the organization raise $5.27 million for an innovative acquisition fund that enabled Jubilee to acquire four properties currently under development.

“Alex has long been a strong voice in the business community, bringing people together to strengthen the region and calling for a deeper commitment to economic equity,” said Jim Knight, Jubilee Housing president and CEO.

“As we reckon with the devastating impact of COVID-19, alongside the unconscionable murders of George Floyd, Breonna Taylor, and Ahmaud Arbery, we know that our city needs a new foundation for equity and justice,” Knight said. “I can’t think of anyone better suited than Alex to rally companies around  removing the barriers that prevent residents with low incomes from moving into — and that force them out of — neighborhoods with access to resources and opportunities.”

Added Samuel Buggs, vice chair of Jubilee Housing’s Board of Directors, “We at Jubilee Housing know that Alex’s leadership, in this influential role, will be indispensable during a pivotal time in our city and nation’s history.”

Jubilee Housing Purchases 2326 – 2338 Ontario Rd NW

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Washington, D.C – August 22, 2019 – Jubilee Housing is pleased to announce the closing of its purchase of 2326 – 2338 Ontario Rd NW. These properties will be used to build deeply affordable homes, but also approximately half of them will be set aside for men and women returning from incarceration.

United Bank, Local Initiatives Support Corporation and Justice Housing Partners, LP, provided acquisition financing for the development.

With this acquisition, Jubilee Housing expands the availability of justice housing™ in one of the city’s most thriving communities. The innovative model of justice housing combines high quality, deeply affordable homes with onsite and nearby supportive programs, in thriving neighborhoods. It aims to provide stable homes to families and individuals with the greatest barriers to high quality housing. This especially applies to men and women returning from incarceration, who not only have the same struggle to find safe, stable, and affordable housing as other households, but also carry the stigmatization of their criminal record. In addition, are rarely allowed the chance to benefit from living in a resource rich neighborhood full of services and opportunity.

Two-thirds of the apartment homes in the new Ontario property will be set aside for families and individuals making 30% or less of the Area Median Income (AMI), or about $35,000/year for a family of four. One-third will be reserved for households making 60% AMI or less. The parcels are located near Jubilee Housing’s supportive services and within walking distance of other nonprofit partners, grocery stores, parks, and the Columbia Heights Metro Station.

“Deeply affordable housing is one of the resources needed to connect residents who have fewer financial assets to the growing prosperity of our city. Justice housing helps level the playing field for families who otherwise may be pushed out of neighborhoods where they have built their lives. It fosters inclusion and equity for our city, proving that it is possible to locate affordable housing opportunities in high demand neighborhoods with ample amenities and resources. Jubilee Housing is committed to creating more justice housing for people who need it most,” said Jim Knight, Jubilee Housing CEO.

This purchase is the third financing transaction by Justice Housing Partners, LP, an innovative social investment fund that Jubilee Housing established in 2018. The Fund provides fast strike capital designed to facilitate Jubilee’s purchase of some of the last remaining affordable housing development opportunities in the Adams Morgan, Columbia Heights and Mount Pleasant neighborhoods.

Institutional investors in the fund include The Diane and Norman Bernstein Foundation, City First Enterprises (CFE), an affiliate of The Share Fund, United Bank, and the WS Abell Foundation. In addition, 18 individual investors and substantial commitments from the A. James & Alice B. Clark Foundation and the Greater Washington Community Foundation were critical in making this acquisition possible.

“CFE is thrilled to be a part of this innovative financial solution that helps Jubilee extend its phenomenal work developing and preserving affordable housing in rapidly gentrifying neighborhoods,” said Oswaldo Acosta, president and executive director of CFE. “The Fund shows that creative financing structures historically used by business and corporations can be put to use in the quest for a more equitable economy.”

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Jubilee Housing Receives Predevelopment Loans from DHCD

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Washington DC – In July of 2019, Jubilee Housing closed on the first two Oramenta Newsome Predevelopment Loans for predevelopment costs on two newly acquired properties, 1460 Euclid Street NW, and 1724 Kalorama Rd. NW. The two loans, which amount to $200,000, will be used to pay the design and architectural fees for these two buildings.

1460 Euclid Street, NW was acquired under DC’s Tenant Opportunity to Purchase ACT (TOPA) because the tenants assigned their rights to purchase to Jubilee Housing. This new addition to Jubilee’s portfolio will preserve 25 units of deeply affordable housing for hardworking families in Columbia Heights, including five 3-bedroom and two 4-bedroom units.

1724 Kalorama, Rd. NW, is a vacant commercial building comprised of 22,000 square feet and will be renovated into a five story mixed-use building offering affordable multi-family housing and valuable community services.Once renovated, two-thirds of the approximately 25 units will be developed into two and three bedroom units addressing a citywide need for family-size apartments.  In addition, the approximately 6,000 square foot ground floor will allow Sitar Arts Center to expand their summer youth arts program and digital media program for young adults.

Jubilee Housing is honored to be the first recipient of the Oramenta Newsome predevelopment loan. Newsome, affordable housing leader and advocate, was a strong advocate and champion of Jubilee Housing. She spent the majority of her career advancing equitable community development in Washington DC. and was pivotal in helping Jubilee Housing acquire and renovate the Maycroft apartment building. Oramenta died in February of 2018.  At a Memorial Service during the summer of 2018, Mayor Bowser honored Ms. Newsome’s legacy by creating a pre-development loan fund in support of affordable housing. Ms. Newsome’s legacy lives on through her many accomplishments in the housing and nonprofit sectors.

“The preservation and development of affordable housing in Ward 1 is more important now than ever. The reality is that families are being forced to move from their homes because they are being priced out,” said Jim Knight. “Thanks in great part to Oramenta’s leadership, our city is leading the way in the preservation and creation of affordable housing.”

The Oramenta Newsome Predevelopment Loan assists non-profit developers secure early capital for affordable housing projects. The loan helps to cover architectural plans and third party reports, required by the DC Department of Housing and Community Development (DHCD) as part of its consolidated request for proposals application. The two loans carry  a 2 year term with  3%  interest rate which is deferred until the closing of construction/permanent financing.