Press

Bowser Administration Launches Program to Help Multi-Family Affordable Housing Meet New Energy Performance Standards

December 9, 2021

WASHINGTON, DC – December 8, 2021 – Today, the Bowser Administration, through the Department of Energy and Environment (DOEE), announced the launch of a new initiative, the Affordable Housing Retrofit Accelerator, that will provide direct technical and financial assistance to multifamily affordable housing buildings so they can meet the compliance…

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Developers Plot Green Affordable Housing Redevelopment in Columbia Heights

December 8, 2021

By Tristan Navera, Washington Business Journal New York developer Jonathan Rose Cos. and D.C.’s Somerset Development Co. are planning a full redevelopment of Faircliff Plaza East that would replace the existing 80-unit building at 14th and Fairmont streets NW with a 125-unit building with more modern amenities and a sustainable…

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DC Affordability, Sustainability Project Secures $2M Pre-Development Loan

December 2, 2021

By Lisa McDuffie, Washington DC CRE News DC Green Bank, Jonathan Rose Companies and Somerset Development Company have closed a $1.85 million pre-development loan to finance the design and planning of Faircliff Plaza East, an affordable housing redevelopment in Ward 1 of Washington, D.C. The project is expected to increase…

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DC Green Bank and Partners Announce $1.85 Million Pre-Development Loan for Groundbreaking Affordable Housing and Sustainability Project

November 30, 2021

DC Green Bank, Jonathan Rose Companies, and Somerset Development Company today announced the closing of a $1.85 million pre-development loan to finance the design and planning of Faircliff Plaza East, an affordable housing redevelopment in Ward 1 of Washington, D.C. The loan will support engineering, architecture, planning, design, and sustainability…

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DC Green Bank is the Newest Member of the Green Bank Network

November 3, 2021

Two new financial institutions from Brazil and Washington, D.C., today joined a growing green financing movement that uses relatively small pools of public funds to attract substantially larger private funds to invest in renewable energy, energy efficiency and other low-carbon technologies and projects aiding the shift from fossil fuels to a climate-friendly future. The two new members—Minas…

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Deanwood Development With Grocery Gets Green Bank’s First Predevelopment Loan

September 20, 2021

By Nena Perry-Brown, Urban Turf While this mixed-use Deanwood development didn’t meet its crowdfunding minimum, it just won additional funding from an unlikely source. The DC Green Bank announced a $250,000 pre-development loan this morning for developer Medici Road to realize its by-right project at 4276 Sheriff Road NE (map). The development will include 13…

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