DC Green Bank and PACE Equity today announced $3.1 million in financing for a new, energy-efficient affordable housing development in Ward 4. The development will deliver eight new affordable homes in a building that meets Enterprise Green Communities Certification Plus, one of the highest standards for energy-efficient buildings. This investment will support the installation of solar panels; a green roof; energy-efficient insulation, HVAC, and lighting; and water-efficient fixtures. Together, these improvements are expected to cut annual utility costs by $10,000. The project is also expected to create dozens of construction jobs.
This critical financing supports DC-native and emerging developer Gayle Berkley as she builds a small business and affordable housing along Kennedy Street NW. DC Green Bank supported Ms. Berkley through its Community Impact Initiative, which provides technical assistance and access to affordable loans for clean energy and energy efficiency projects for small businesses and community organizations from historically underserved communities.
This project is the first to combine direct investment from DC Green Bank with financing through the DC PACE Program, bringing together public and private capital to support energy-efficient affordable housing development. DC Green Bank provided $1.9 million in financing and PACE Equity provided a $1.2 million commercial PACE loan.
“DC Green Bank’s financing paired with the DC PACE Program will catalyze investment in affordable housing,” said Trisha Miller, CEO of DC Green Bank. “This project is an example of supporting small business growth in DC and contributing to inclusive prosperity on Kennedy Street.”
“This project reflects the strength of the DC Green Bank and the DC PACE Program in enabling capital-efficient solutions that drive decarbonization and economic development,” said Beau Engman, president and founder at PACE Equity. “We’re proud to partner again to deliver financing that supports long-term value for owners, healthier buildings for residents, and measurable impact for the community.”
“DC Green Bank has been an essential partner in helping me navigate the process to get the financing needed to make this project possible,” said Gayle Berkley, the project developer. “I’m excited to bring new sustainable, affordable housing to the community and contribute to the revitalization of this neighborhood.”
The building is expected to be completed by March 2026.
DCGB_715 Kennedy_PressRelease_May 2025