By Gretchen Greiner-Lott
Vice President, Washington Regional Association of Grantmakers
We did it! Our Region, Your Investment has surpassed its $5 million goal!
That’s right. Since Enterprise Community Loan Fund and the Washington Regional Association of Grantmakers officially launched this impact investing initiative earlier this year, we’ve talked with and presented to regional grantmakers, community members, and local stakeholders about this investment opportunity. The results? Not only foundations, but nonprofit organizations, banks, and local residents have invested almost $7 million in this initiative to preserve and produce affordable housing around the region.
What does this mean? Loans have been made to a variety of projects like Clarendon Court in Arlington that will preserve 103 affordable homes in this prime spot in Northern Virginia within blocks of a metro station. Fifty-nine apartments at Fort Steven Place in DC will be updated and improved to meet green building standards, resulting in healthier homes and reduced utility bills for families. The bottom line is that residents will stay in their homes and their communities and will not be overburdened by the cost of their housing.
The need is massive and more projects are in the pipeline; so we can’t stop now. This isn’t a final report. This is a celebratory update.
Passing the $5 million milestone – and by so much – is a testament to what can be done when our community pulls together around an issue that impacts so many families in our region. Won’t you join us?
If you would like to learn more about how you and your organization can earn money on an investment to address the Greater Washington region’s housing crisis, please contact Gretchen Greiner-Lott, WRAG’s Vice President, at firstname.lastname@example.org or 202-939-3433 to schedule a meeting or presentation. In addition, Enterprise and WRAG will host several webinars this fall. Please watch the WRAG calendar for dates and details.