Author: Daniel Lebiednik

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.

Read the Full Release Here

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.

Download the Report

(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.

Read the Full Release Here

(Washington, D.C.) – DC Green Bank and the Howard Theatre Development Group today announced $775,000 in financing for solar power and energy-efficient upgrades to the historic Howard Theatre in Ward 1. The loan will fund the installation of a solar power system and an energy-efficient HVAC system.

The Howard Theatre is the oldest theater built for African American entertainment in U.S. history and was added to the National Register of Historic Places in 1974. The upgrades will also be supported by a $675,000 African American Civil Rights Grant from the National Park Service, through the DC Preservation League. This grant program supports projects that preserve historic places in the African American struggle for civil rights.

The new HVAC system will provide a needed upgrade to the system installed during the theater’s 2012 renovation and cut heating and cooling energy use by an estimated 40 percent. The HVAC and solar systems combined will save the theater an estimated $1.5 million in utility costs over the life of the systems.

“We’re proud to support a historic DC institution by helping The Howard Theatre make critical upgrades that will allow it to continue to serve the community as a center of culture and entertainment,” said Trisha Miller, CEO of DC Green Bank. “The Howard Theatre has long been a cultural beacon and will now be a leader in clean energy and sustainability in DC.”

“DC Green Bank has been a partner every step of the way in making sure we get the financing we need to make these important upgrades,” said Roy “Chip” Ellis, owner of The Howard Theatre. “We’re grateful for the support of DC Green Bank, the National Park Service, and the DC Preservation League in helping us invest in the future of the Howard Theatre so it continues to be an important part of the culture and nightlife of the District.”

The new HVAC and solar energy systems are expected to be operational in 2025.

Read the Full Release Here

(Washington, D.C.) – DC Green Bank and Amalgamated Bank today announced a deal to provide an affiliate of Aligned Climate Capital with $13 million in financing to build a $20 million, 6.1-megawatt community solar project in DC. The solar energy system will provide monthly utility bill savings for more than 1,000 households across all 8 wards in the District. Covering seven warehouse rooftops on V Street NE, the project is estimated to save community solar subscribers $7.5 million on their electric bills over 20 years and cut greenhouse gas emissions by 110,000 metric tons – the same as taking 26,000 cars off the road for a year.

The solar energy system will be the second largest in DC. Approximately half of the beneficiaries will be from Wards 5, 7, and 8, bringing the benefits of a clean future to underserved communities across DC through positive economic development.

A $2.6 million loan from DC Green Bank will leverage an additional $17.4 million in capital for the project, multiplying its investment nearly seven times. Amalgamated Bank will deliver a $10.4 million loan to the project, and an affiliate of Aligned Climate Capital will provide the remaining $7 million for the construction of the solar energy system.

“By serving over 1,000 households across the District, this community solar initiative will reach the largest number of Washingtonians of any project DC Green Bank has financed to date,” said Trisha Miller, CEO of DC Green Bank. “This partnership demonstrates how DC Green Bank collaborates with private lenders like Amalgamated Bank to bring a project of this size to life.”

“We’re proud to be making an investment that helps DC achieve its sustainability goals and has a real impact on improving the lives of District residents,” said Bill Peterson, Director of Climate Lending at Amalgamated Bank. “Partnering with DC Green Bank on this project is another step in demonstrating the power of public-private collaboration to grow the clean economy and achieve our mission of delivering financial and community benefits to underserved communities.”

“This is Aligned Climate Capital’s second solar project in Washington, DC, and it’s a win for our investors and the community,” said Peter Davidson, CEO of Aligned Climate Capital. “DC Green Bank and Amalgamated Bank are tremendous partners, and we hope to work together again to bring even more solar power to the District.”

Community solar projects allow households to benefit from solar energy even if they cannot build a system on their own property. By subscribing to community solar, households save money on their electric bills while supporting the growth of the clean economy.

The solar energy system is expected to be placed in service in late 2024.

Read the Full Release Here

Washington, D.C. – DC Green Bank and Mi Casa, Inc., today announced $1.59 million in financing for energy efficiency improvements as part of a $25.3 million rehabilitation of two affordable housing developments in Ward 4. The loan will fund the installation of a high-efficiency HVAC system, Energy Star appliances, high-efficiency insulation, and energy-efficient lighting and fully electrify both buildings. The project will deliver 43 newly permanent affordable homes and meet Enterprise Green Communities certification.

This investment is DC Green Bank’s second with Mi Casa – the first was a predevelopment loan for a mixed-use and mixed-income construction project in Ward 5 that will create 29 affordable homes, in addition to 1,500 square feet of community meeting space on the ground floor. The building rehabilitations are also supported by funding from the DC Department of Housing and Community Development, a loan from JP Morgan Chase, and a tax equity investment from Enterprise Community Partners.

“DC Green Bank is proud to continue our partnership with Mi Casa and help them preserve over 40 affordable homes for families in DC and cut utility costs,” said Trisha Miller, CEO of DC Green Bank. “These projects show how collaboration among DC Green Bank, District agencies, developers, and private financial institutions can help us achieve the District’s economic development and climate goals.”

Read the Full Release Here

(Washington, D.C.) – DC Green Bank and City First Enterprises today announced financing through a small business loan partnership for a rooftop solar system at First National Baptist Church in Ward 7 in Southeast DC. The $115,000 loan to ROI Solar will fund the installation of a 32kW solar power system on the church’s roof, saving an estimated $10,000 on its utility bills annually. The system will generate almost 43,000 kWh annually, cutting carbon emissions equivalent to 76,000 miles driven by car. This loan is part of an ongoing partnership between DC Green Bank and City First Enterprises to finance clean energy projects by small businesses.

“We’re proud to help deliver the benefits of solar energy to a local house of worship and continue to expand the clean economy East of the River,” said Trisha Miller, CEO of DC Green Bank. “Our
partnership with City First Enterprises, and deals like these, are laying the groundwork for the tens of millions of dollars we will invest to bring clean energy and utility bill savings to communities
across DC.”

“This project is a unique opportunity to support a local business in building expertise in clean energy and helping a community organization save money through solar power,” said Oswaldo Acosta, President and CEO of City First Enterprises. “Our partnership makes it easier for us to provide capital for solar projects like this one, and we look forward to continuing to work with DC Green Bank to transform communities in DC.”

“Having had solar panels installed for three months has been a fantastic opportunity for the church,” said Mildred Joyner, a congregation member at First National Baptist Church. “It has
significantly reduced our electric bill, and we truly enjoyed working with ROI Construction to complete this project.”

First National Baptist Church is located at 5400 D St SE.

Read the Full Release Here

DC Green Bank is proud to welcome two new board members, Monica Warren-Jones and Anthony Washington. These two new board members will fill important roles on the DCGB board through their experience in affordable housing and community development. Read the full bios of these new members on the Our Team page.

“I am delighted to welcome Ms. Warren-Jones and Mr. Washington as our newest board members, and to leverage their combined expertise in affordable housing finance to help guide the continued growth of DC Green Bank. Their leadership will be invaluable in support of our mission of building a more equitable, resilient, and sustainable DC.”
DC Green Bank Board Chair Brandi Colander

“We’re honored to have Ms. Warren-Jones and Mr. Washington join our board and are excited to draw on their knowledge and experience to guide the DC Green Bank as we accelerate our climate and community impact across the District. Our team looks forward to working closely with them to build on our successes and prioritize green affordable housing for all.”
DC Green Bank Trisha Miller

“I am excited to join the DC Green Bank board and contribute to an institution that is advancing sustainability and investing in affordable housing in the District. I look forward to working with the impressive staff to help the organization support DC’s ambitious climate, energy, and equity goals.”
DC Green Bank Board Member Monica Warren-Jones

“It is an honor to be joining the DC Green Bank board and work with a team that has already done so much to build the clean economy here in the District. I am excited to bring my experience to bear to help unlock much-needed investment in sustainability, deliver good green jobs, and advance inclusive prosperity for all Washingtonians.”
DC Green Bank Board Member Anthony Washington

(Washington, D.C.) – The District’s Department of Energy and Environment (DOEE) was awarded $4.6 million by the U.S. Department of Energy to establish an innovative loan fund led by DC Green Bank to boost energy efficiency improvements in affordable housing. Led by DC Green Bank, the loan fund will help make affordable housing greener and help the District achieve its ambitious sustainability and equity goals by providing lower-cost capital for energy-efficiency upgrades.

The new Energy Efficiency Revolving Loan Fund will provide financing at below-market rates for enhanced energy efficiency improvements in affordable housing construction and building upgrades. DOEE and DC Green Bank will operate the loan fund and collaborate with the District’s Department of Housing and Community Development (DHCD) to identify eligible projects within DC’s Housing Production Trust Fund pipeline.

The Energy Efficiency Revolving Loan Fund will support Mayor Bowser’s goals to deliver at least 12,000 affordable housing units by 2025 and achieve carbon neutrality for the District by 2045.

“This new fund will create an opportunity for affordable housing developers to incorporate deeper energy-efficient improvements into their buildings, helping the District meet its climate goals,” said DOEE Director Richard Jackson. “By supporting the development of high-performance buildings that stretch beyond our current standards, we’re leading the way to a more sustainable and prosperous future.”

“This award will enable us to bring together the public and private sectors to invest in the clean energy economy and deliver the benefits of green development to underserved communities,” said DC Green Bank CEO Trisha Miller. “This revolving loan fund will support direct investment in a more equitable and sustainable DC.”

“We’re excited to be able to use this fund to achieve both sustainability and affordability in the District’s housing stock,” said DHCD Director Colleen Green. “This new program demonstrates the power of collaboration to deliver the benefits of a clean economy to more of our residents.”

Read the Full Release Here

A new article from BisNow reports on DC Green Bank’s financing to The NRP Group for a new sustainable affordable housing property at 301 Florida Ave NE. DC Green Bank’s funding will support the installation of a high-efficiency heating and cooling system, which will help the building meet Enterprise Green Communities Plus and the U.S. Department of Energy’s Zero Energy Ready Home certifications, two of the highest standards for sustainability in green building construction.

From the article:

The developers of 301 Florida Ave. NE, planned for a Flatiron Building-inspired design with 115 affordable housing units and ground-floor retail, have secured the financing needed to start construction.

A partnership between The NRP Group and Marshall Heights Community Development Organization closed on a financing package with funds from a series of sources, according to documents filed with the D.C. Recorder of Deeds and confirmed by an NRP spokesperson. 

DCHFA issued $47.6M in tax-exempt bonds, collateralized by Bank of America, and underwrote $32.3M in federal Low Income Housing Tax Credits. The project also received $33.1M from D.C.’s Housing Production Trust Fund, $6.5M in state LIHTC funds and another $3M from DC Green Bank.

Read the Full Article