(Washington, DC) – DC Green Bank and partners today announced the closing of $3.3 million in financial support for the new construction of an affordable housing development in Ward 8 and energy efficiency and renewable energy upgrades for a building in Ward 7. In addition to a $3 million construction loan from DC Green Bank, a $300,000 grant has been awarded to the developer through Capital Impact Partners’ Housing Equity Accelerator Fellowship, which is funded by Amazon’s Housing Equity Fund. Once completed, the properties will create 8 new and preserve 4 existing affordable housing units in total. The property developer and recipient of this grant, Ayesha Hudson, an alumna of Capital Impact Partners’ Equitable Development Initiative, is the Founder and CEO of A-Peace, LLC. For more than 20 years, Ayesha has been in the business of residential property ownership and management, with a focus on providing affordable housing for underserved communities.
“We are thrilled to work alongside Capital Impact Partners and Amazon to address the critical need for affordable housing in the District,” said Brandi Colander, Chair of the DC Green Bank Board of Directors. “This partnership reflects our shared commitment to supporting Inclusive Prosperity by providing affordable, sustainable housing solutions in communities all-too-often left behind. Ayesha Hudson’s vision for the development and the creation of a wellness center highlights the significance of investing in local developers who truly understand and care for their community.”
“We are proud to support real estate developers of color with the financial, knowledge, and social capital they need to grow their businesses, overcome systemic barriers, and help the communities they serve,” said Raymond Guthrie, Chief Investment Officer and Head of Capital Deployment for Capital Impact Partners, part of the Momentus Capital branded family of organizations. “This deal is not just an investment in residential development, but also an investment in the health, safety, and sustainability of the Washington metropolitan area. We are grateful to the Amazon Housing Equity Fund and DC Green Bank for their support of emerging developers like Ayesha, who are creating a future where everyone can thrive.”
“Amazon is grateful for the opportunity to partner with DC Green Bank and Capital Impact Partners to bring more affordable housing to the DC metro area. We are working hand-in-hand to support and uplift emerging developers who are at the forefront of community development,” said Senthil Sankaran, managing principal, the Amazon Housing Equity Fund. “Ms. Hudson’s holistic approach to real estate development is not only creating sustainable and affordable homes, but also supporting overall health and wellbeing. Together, we are making a positive, long-lasting impact on communities in DC.”
“I am immensely grateful to Capital Impact Partners because the Housing Equity Accelerator Fellowship program opened doors to opportunities I would not have had access to without their invaluable support,” said Ayesha Hudson. “The program helped to connect me with financial support from DC Green Bank and Amazon’s Housing Equity Fund to bring these impactful projects to life. Their investment will have a positive ripple effect in this community and across the city for generations to come.”
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