Author: Daniel Lebiednik

The DC PACE Program and PACE Equity announced the closing of $22.5 million in financing to improve the sustainability and energy efficiency of a new 73-room hotel in Dupont Circle. The building will include a highly efficient HVAC system, improved insulation, LED lighting, and water efficient fixtures and elevators. The high-performance building measures will result in an estimated annual reduction in electricity usage of more than 146,000 kWh – cutting emissions by the equivalent of more than 250,000 miles driven by car – and reduce water use by nearly 700,000 gallons each year. The reduced electricity and water usage is estimated to save nearly $50,000 in annual utility costs.

The new hotel, Sixty DC, will include a restaurant, rooftop bar, and gym. This redevelopment is expected to create 147 full-time hospitality jobs and 98 construction jobs. It supports the Mayor’s Downtown Action Plan by boosting the economic growth of the Dupont Circle neighborhood and providing opportunities for new businesses to thrive.

“This PACE loan not only helps increase sustainability in the District, but it also furthers the Mayor’s goal of revitalizing downtown,” said Ronald Hobson, DC PACE Program Director. “DC PACE financing supports projects that make the District greener, create jobs, and lead to vibrant neighborhoods.”

“We are pleased to announce our first C-PACE project in DC. Our capital helps make projects like this beautifully renovated space an economic driver,” said Beau Engman, president and founder at PACE Equity. “The benefits of PACE financing go far beyond providing low-cost, strategic capital — it is a funding solution that helps make developments like Sixty DC happen.”

“PACE financing was crucial to helping us make Sixty DC more energy efficient, allowing us to build a hotel that will result in significant operating savings, lower utility costs, and serve a model for sustainability,” said Will Lansing, Founding Principal of Valor Development. “DC Green Bank and PACE Equity Group were great partners in making this financing happen and bringing this exciting new project to the Dupont Circle neighborhood.”

Sixty DC is expected to be completed by summer 2025.

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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.

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The DC PACE Program and PACE Equity announced the closing of $1.1 million in financing to improve the sustainability and energy efficiency of a 20-unit building in Ward 6. This PACE financing will support the installation of solar panels, improved insulation, LED lighting, and water-efficient fixtures. These measures will result in estimated annual reduction in electricity usage of more than 71,000 kWh and cut emissions by the equivalent of more than 122,000 miles driven by car. These high-performance green building improvements are expected to save nearly $20,000 annually in electricity and water costs. The building will deliver 20 new homes and create 98 construction jobs.

“This financing is not only adding more housing to Capitol Hill, but also setting a benchmark for sustainability for future projects in this neighborhood,” said Ronald Hobson, DC PACE Program Director. “The DC PACE Program makes it easy for developers to build sustainability into their projects and reap the benefits of energy-efficient and solar-powered buildings.”

“We are excited to partner again with the DC PACE Program and invest in making DC more sustainable,” said Beau Engman, president and founder at PACE Equity. “The flexible capital solutions provided by PACE Equity offer compelling financials, helping developments such as this project not only happen but do so with a positive environmental impact.”

“The DC PACE Program made it possible for us to invest in a greener, more energy-efficient building that will save residents money,” said Abraham Soquar, at Portofino LLC. “Both DC Green Bank and PACE Equity were essential partners in making this process easy and helping us get the financing we need to make this project a reality.”

1337 Pennsylvania Ave SE is expected to be completed by November 2025.

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Today, Jubilee Housing and DC Green Bank broke ground on a new energy-efficient affordable housing development that will deliver new homes and workforce training to Ward 1. The new building, King Emmanuel Baptist Church (KEB), will have 18 single-room occupancy (SRO) units for returning citizens, feature an all-electric community kitchen offering workforce training programs, and serve as a hub for Jubilee Housing’s Reentry Housing Initiative Program. The project is located at the site of the King Emanuel Baptist Church — one of the longest-standing African American churches in Ward 1 — and will retain the façade and key design elements to honor its legacy in the neighborhood.

DC Green Bank provided a $3 million loan to finance high-performance building upgrades, including a variable refrigerant flow (VRF) heating and cooling system, which is anticipated to lower greenhouse gas emissions by nearly 50%. Other green elements include high-efficiency insulation, energy-efficient appliances and lighting, and building envelope upgrades. The building is designed to meet Enterprise Green Communities Certification Plus, one of the highest standards for sustainable buildings. In addition to the DC Green Bank-funded heating, ventilation, and air conditioning (HVAC) system, the development will include a rooftop solar system that will generate an estimated 21,000 kWh annually, reducing carbon emissions by the equivalent of more than 32,000 miles driven by car.

Residents at KEB will have the option to transition to housing at the Jubilee Ontario Place development, a 52-unit affordable housing building adjacent to the site, which is under construction with financing from DC Green Bank. KEB residents will also have access to job training and opportunities with the farm. This basement and rooftop aquaponics farm — Jubilee Farms — will be the first in the region associated with affordable housing.

“DC Green Bank’s collaboration with Jubilee Housing shows the power of green finance to help achieve our sustainability goals while creating jobs and supporting resident empowerment in the community,” said Trisha Miller, CEO of DC Green Bank. “Jubilee’s creativity in bringing together housing, workforce development, and access to healthy foods shows how investments in the clean economy can transform communities and support residents.”

The project will be the first funded under the District’s Department of Housing and Community Development’s long-term Reentry Housing and Services Pilot Grant. The DC Council approved funding for the pilot grant program in 2018 to provide immediate housing and services for returning citizens.

“DC Green Bank’s dedication to equity and sustainability helps us deliver creative solutions that build thriving communities,” said James Knight, Chief Executive Officer of Jubilee Housing. “The KEB and Ontario Place projects embody our vision of a future where housing, workforce development, and the clean economy combine to uplift and strengthen the fabric of our neighborhoods.”

The KEB building is expected to be completed in early 2026.

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DC Green Bank and Lincoln-Westmoreland Housing announced $3.1 million in financing to deliver an all-electric new building that will create 100 permanently affordable homes in Ward 5. DC Green Bank’s loan will support the installation of an energy-efficient HVAC system, as well as Energy Star appliances, energy-efficient lighting, windows, and plumbing, which will reduce energy use by an estimated 50%. The building is designed to achieve Enterprise Green Communities Certification Plus, one of the highest standards for green affordable housing. The new development supports Mayor Bowser’s affordable housing goals and adds new homes to a rapidly growing neighborhood.

This is the sixth project to be funded as part of the Building Energy Performance Standards (BEPS) revolving loan fund, a partnership between DC Green Bank and the District’s Department of Energy and Environment. The BEPS fund provides below-market financing for energy efficiency measures and green building improvements for affordable housing properties to help them achieve higher levels of sustainability and meet the District’s energy efficiency standards. DC’s BEPS Program is part of the Sustainable DC plan, which aims to reduce greenhouse gas emissions and energy consumption by 50% by 2032. Additional financing for this project is being provided by the Department of Housing and Community Development, District of Columbia Housing Authority, and the Housing Production Trust Fund.

“By redeveloping a vacant lot into 100 affordable homes, this community-led project will bring affordability and sustainability to a thriving neighborhood,” said Trisha Miller, CEO of DC Green Bank. “Through our partnership with the Department of Energy and Environment, we have helped build or preserve over 500 affordable homes and meet some of the highest building performance standards. This program shows the power of green finance to lower energy costs and create healthy homes for DC residents.”

“This new building will not only advance our mission of serving those in need by creating affordable housing but also serve the community as a whole by helping the District meet its sustainability goals,” said David Jacobs, President of the Board at Lincoln-Westmoreland Housing. “We’re grateful to DC Green Bank for working with us and providing the financing needed to help this building reach higher levels of sustainability.”

The 2911 Rhode Island Avenue NE Development is expected to be completed by October 2026.

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DC Green Bank today announced $2 million in financing for solar power, battery storage, and fully electric modular kitchens at Sycamore & Oak on the St. Elizabeths East Campus in Congress Heights in Ward 8. The Retail Village at Sycamore & Oak is a 23,000-square-foot sustainably designed, mass timber building that is home to 20 Black-owned businesses, all led by East of the River entrepreneurs. Led by a diverse coalition and operated in partnership with the Congress Heights Community Training and Development Corporation, the project provides opportunities for business development and much-needed retail options, programming, events, and trade-focused training, and other resources for the Congress Heights community.

DC Green Bank invested in the installation of a 138-kW rooftop solar array, as well as a solar battery storage system, to provide continuous power to the property. The financing also supports all-electric kitchen units, which include space for food preparation, storage, and service. These innovative modular kitchens will serve as a hub for chefs in residence – with guidance from the José Andrés Group – and a proof of concept for future all-electric kitchens.

The Retail Village is the first phase of development of St. Elizabeths East, which is envisioned as a 650,000-square-foot mixed-use development that will include workforce housing, retail space, the first hotel East of the River, and green space.

“Sycamore & Oak demonstrates how DC local businesses and residents are building a more sustainable and inclusive economy,” said Trisha Miller, CEO of DC Green Bank. “We’re excited to support an innovative climate technology project that will directly benefit the Congress Heights community, grow new businesses, and sustain jobs for Washingtonians.”

“DC Green Bank has been an essential partner in making the clean energy feature of Sycamore & Oak a reality and a consistent supporter of our work to create a model for sustainable community development,” said Louis Dubin, Managing Partner at Redbrick LMD, a development partner for Sycamore & Oak. “This financing helps us show how technologies like mass timber, electric kitchens, and battery storage can build vibrant community spaces that create new opportunities for residents.”

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DC Green Bank and MED Developers today announced $3 million in financing to improve the energy efficiency of a new building that will create nearly 70 affordable homes in Ward 6. DC Green Bank’s loan will support the installation of an energy-efficient HVAC system, Energy Star appliances, and energy-efficient lighting, windows, and plumbing at the Congress Street Development. The building is designed to meet Enterprise Green Communities Certification Plus – one of the highest standards for sustainable affordable housing – and the U.S. Department of Energy’s Zero Energy Ready Home designation.

This project will add 69 units of permanently supportive housing for residents earning 30% of area median income. A hallmark of this development is resident education and training, which will focus on health and wellness and academic and educational empowerment. Community Connections and Housing Help Plus, the development’s nonprofit sponsor, will provide supportive services, including case management and transitional housing.

A total of $52 million will be invested in the project, multiplying DC Green Bank’s investment more than 16 times. Additional financing will be provided by the DC Department of Housing and Community Development, the District of Columbia Housing Authority, JPMorgan Chase and Boston Capital Finance.

“This project will provide affordable, healthy, and sustainable housing opportunities for lower-income District residents,” said Trisha Miller, CEO of DC Green Bank. “By working with a certified business enterprise (CBE) on this project, we’re supporting the local workforce and helping to deliver on Mayor Bowser’s affordable housing goals.”

“DC Green Bank helped us make this building more sustainable and supported our mission of delivering high-quality housing for District residents,” said Bruce Finland, Manager Director of MED Developers. “At MED, we pride ourselves on innovation, and this new building will set a high bar for sustainability and also deliver affordability and healthy living for residents.”

The development at 1109 Congress Street NE is expected to be completed by August 2026.

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DC Green Bank’s Annual Report highlights our achievements over the 2024 fiscal year in service of our mission of investing in the clean economy and advancing a more equitable, resilient, and sustainable District. Highlights include:

• $11 million in investments in green affordable housing developments and solar energy projects. DC Green Bank’s financing crowded in more than $300 million in additional capital, a ratio of $14 for every $1 of DCGB funds invested.
• Recognition for DCGB’s work, including an award from the Metropolitan Washington Council of Governments and grant awards from the Investment Reduction Act, STORM ACT, and Bipartisan Infrastructure Law.
• Our team’s engagement with the community, including our fifth-anniversary celebration, groundbreakings, and a ribbon cutting for our first completed housing development.

Read the full report to learn more about our new investments, our impact in the community, and our plans for continuing to build a brighter future together.

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(Washington, D.C.) – DC Green Bank and Walker Memorial Baptist Church announced $415,000 in financing for a solar energy system and roof replacement. The loan will fund the installation of a 68kW solar power system, which is estimated to save the Ward 1 church nearly $10,000 on its utility bills annually and create up to $30,000 in solar renewable credits every year. The system will generate almost 75,000 kWh annually, cutting carbon emissions equivalent to 130,000 miles driven by car.

The church is also receiving a $66,000 Renewable Energy Investment Tax Credit – made possible through the Inflation Reduction Act’s “direct pay” provision – which allows tax-exempt organizations to fully benefit from tax credits for building clean energy projects.

This investment was delivered through DC Green Bank’s Community Impact Initiative, which supports community-serving organizations, including faith-based institutions, to invest in building upgrades that increase energy efficiency, lower operating costs, and help preserve community assets. The solar power system will be installed by WDC Solar, a minority-owned business located in Ward 8, supporting the continued growth of the clean energy economy in DC.

“We’re thrilled to work with a historic church and cornerstone of the U Street community to deliver benefits of the clean energy economy to their congregation,” said Trisha Miller, CEO of DC Green Bank. “We look forward to working with more faith-based organizations to help them save money on their utility bills so they can invest more money in their communities.”

“DC Green Bank has been an essential partner in helping us with financing to make our solar energy project a reality,” said Reverend Ademuyiwa T. Bamiduro, Senior Pastor at Walker Memorial Baptist Church. “We’ve not only addressed the pressing need of replacing our aging roof, but with the addition of this solar power system we can use our utility savings to better impact and serve our congregation and community.”

Walker Memorial Baptist Church was founded in 1891 and has operated at its current location at 2020 13th Street NW in Ward 1 since 1906.

The solar energy system is expected to be operational by December 2024.

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