An Innovative Model
The Washington Housing Initiative is a transformational, market-driven approach to producing affordable workforce housing.
Launched by the Federal City Council and JBG SMITH, a leading national real estate developer, the Initiative preserves and creates affordable housing in High-Impact Locations and partners with best-in-class providers to deliver neighborhood services to both residents and the broader community.
The Impact Pool
Managed by JBG SMITH, the Impact Pool supports the creation and preservation of affordable workforce housing across the Washington, D.C. area. It provides secondary financing, enabling owners and developers to secure long-term, lower cost permanent financing. Returns on investments are capped, with excess proceeds used to support long-term affordability and neighborhood services across the portfolio.
High-Impact Locations are rapidly growing areas that are still affordable today but expected to become less so over the next 5-10 years. The Initiative focuses on High-Impact Locations to leverage other investments, which enable residents to benefit from improvements to schools, services and retail amenities.
Washington Housing Conservancy
The Washington Housing Conservancy is an independent, non-profit organization created to acquire, develop, own and operate workforce housing in High-Impact Locations. The Conservancy is funded through donations, as well as earnings from the properties it owns.
The Stakeholder Council consists of thought leaders, academics, government and policy leaders, non-profit service providers, key investors, and key donors who advise both WHC and the Impact Pool on real estate, social impact, and community engagement.
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September 12, 2019