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.”
FINAL MCRP2 Press Release