Local Initiatives Support Corporation (LISC) and DC Green Bank are pleased to join Mayor Bowser, DC agencies, and investors NEF and PNC for the ribbon cutting of one of the first net-zero energy mixed-use affordable housing properties in DC. Built by local developers Heleos, Cycle House Apartments is delivering 18 homes designed for a new way of urban living and priced to bring affordability back to DC. LISC was the first investor in Heleos’ vision and in 2023, LISC and DC Green Bank provided $7.5 million in financing for this pioneering development.
The new building is revitalizing a plot that stood vacant for decades along North Capitol Street in Ward 5, just blocks from the U.S. Capitol. The energy-efficient design of Cycle House will reduce utility bills paid by residents at a time when energy costs are rising, and establish a paragon for clean-energy affordable housing construction. The net-zero building will produce at least as much energy as it consumes each year by harnessing solar energy from a rooftop solar installation and a rear solar parking canopy, with the local electrical grid serving solely as a backup. Each unit features high-efficiency HVAC systems, Energy Star appliances, and EPA WaterSense fixtures. The project has received LEED Gold certification, setting a high standard for resilient construction.
“We have invested in this area for decades, back when the neighbors organized to reverse profound disinvestment and drug violence. Dealing with those challenges cannot be considered a success without ways for long term Washingtonians with limited means to find a home,” said Ramon Jacobson, Executive Director of LISC DC. “With Cycle House, we offer residents a place to live, work, study, and yes, bike within the heart of DC. Cycle House is a testament to the vision and determination of the Heleos team, and the steadfastness of the Mayor and public and private partners.”
“Cycle House shows how visionary developers and lenders can partner together to set new standards for resilience and energy efficiency,” said Brandi Colander, CEO of DC Green Bank. “DC Green Bank’s investments are building enduring infrastructure for DC, while also delivering affordable homes and opportunity for residents.”
The name “Cycle House” reflects both the energy cycle, and the bicycle amenities that maximize the ease of cycling for building residents. Located at 1520-1522 North Capitol Street NW in Ward 5, Cycle House is a transit-oriented location within three blocks of metro stations and near job opportunities and grocery stores in downtown DC, Union Market, and U Street. The building includes free bicycle storage for each apartment, and a bicycle-friendly elevator, allowing residents to wheel seamlessly from their front door to the street level.
The financing for the project includes Low-Income Housing Tax Credits through the National Equity Fund and a HUD 221(d)4 loan by PNC, in addition to DC Green Bank and LISC construction loans and a grant provided by the DC Sustainable Energy Utility.
The proposal for this mixed-use project by Urban Green and VNV Development received unanimous support from the local community and the Advisory Neighborhood Commission (ANC). In addition to the residential spaces, the Cycle House development team has designed 1,525 square feet of commercial space to be leased.
DCGB-LISC Cycle House Press Release_1.29.26