Rising housing costs are placing a major burden on working families. The Washington Housing Conservancy is on the front lines in the community, combating displacement and interfacing with residents to help them realize their goals for their neighborhoods by promoting resident connectedness in its properties.
The Washington region is losing affordable workforce housing as its population grows. This has led to consistent growth in the housing shortfall year over year.
The median rent in DC is rising much faster than median income, resulting in an unsustainable cost burden to DC’s working residents.
“The surge in high-income households puts upward pressure on house prices and rents, making it more challenging for both low- and middle-income households to find housing they can afford.” - Urban Institute
The Washington Housing Conservancy will acquire and develop affordable workforce housing in the Washington region and coordinate services for residents and communities. The Conservancy is part of the Washington Housing Initiative, a triple bottom line impact initiative that will have sufficient scale to preserve or build 3,000 units of affordable workforce housing across our region and serve as a model for systemic change.
In response to the DC affordable housing crisis, United Bank is committed to investing in “justice housing,” where affordability n neighborhoods is combined with proximity to essential resources and opportunities regardless of income. One of United’s partnerships is with the Washington Housing Initiative Impact Pool, described by Joseph LeMense, Managing Director of Community Development and Nonprofit Banking, as a “high-impact initiative that align[s] with our commitment to building stronger communities,”and this partnership shows that creativity and innovative public-private partnerships are they key to long-term change on the workforce housing landscape.
In response to the DC affordable housing crisis, United Bank is committed to investing in “justice housing,” where affordability n neighborhoods is combined with proximity to essential resources and opportunities regardless of income. One of United’s partnerships is with the Washington Housing Initiative Impact Pool, described by Joseph LeMense, Managing Director of Community Development and Nonprofit Banking, as a “high-impact initiative that align[s] with our commitment to building stronger communities,”and this partnership shows that creativity and innovative public-private partnerships are they key to long-term change on the workforce housing landscape.
Washington Housing Conservancy Executive Director Kimberly Driggins met with AFRO to discuss her return to the District of Columbia, the financial pressures low to middle income households face in the District, and how the WHC will provide affordable workforce housing. “It’s not just about real estate acquisition. It’s also about a social impact strategy...with the folks that we’re providing housing for, not just the unit of housing, but what are the services and needs of the residents to make sure that they thrive in place.”
Washington Housing Conservancy Executive Director Kimberly Driggins met with AFRO to discuss her return to the District of Columbia, the financial pressures low to middle income households face in the District, and how the WHC will provide affordable workforce housing. “It’s not just about real estate acquisition. It’s also about a social impact strategy...with the folks that we’re providing housing for, not just the unit of housing, but what are the services and needs of the residents to make sure that they thrive in place.”
In a panel hosted by Fannie Mae and Urban Institute, AJ Jackson, Executive Vice President of Social Impact Investing for JBG Smith, shared the impact affordable housing can make on a region: “What we as a company realized is that housing is critical to infrastructure. It’s as important as transportation and education for the region’s long-term growth and health. The Washington Housing Initiative became our solution to use our skills and talents as a company to try and address affordable housing.” Jackson also discussed the Impact Pool, which provides secondary financing to acquire or develop affordable housing communities, enabling the owners and developers to secure long-term, lower-cost permanent financing.
In a panel hosted by Fannie Mae and Urban Institute, AJ Jackson, Executive Vice President of Social Impact Investing for JBG Smith, shared the impact affordable housing can make on a region: “What we as a company realized is that housing is critical to infrastructure. It’s as important as transportation and education for the region’s long-term growth and health. The Washington Housing Initiative became our solution to use our skills and talents as a company to try and address affordable housing.” Jackson also discussed the Impact Pool, which provides secondary financing to acquire or develop affordable housing communities, enabling the owners and developers to secure long-term, lower-cost permanent financing.
David Roodberg, CEO and President of Horning Brothers, will take over as the Conservancy's new board chairman, succeeding Anthony Williams, CEO and Executive Director of the Federal City Council and former Mayor of Washington, D.C.
David Roodberg, CEO and President of Horning Brothers, will take over as the Conservancy's new board chairman, succeeding Anthony Williams, CEO and Executive Director of the Federal City Council and former Mayor of Washington, D.C.
