Low Income Investment Fund Stories and Data

Low Income Investment Fund Stories

Ontario Court
Ontario Court is the rehabilitation of an 85-year old, three-story building in the Adams Morgan neighborhood of Washington, D.C., into a mixed-use facility serving low- and moderate-income residents. The “near-gut-rehab” renovation preserves 27 units of affordable housing in the gentrifying neighborhood, and creates 4,000 sq. ft. of commercial space to house the new Jubilee JumpStart Early Childhood Development Center. Completed in 2009, the building houses six one-bedroom units, 18 two-bedroom units and three units with three bedrooms. A new laundry facility for the residents has been added to the building’s basement. Unit renovations also include new mechanical, electrical and plumbing systems; installation of new security systems; and air conditioning.
Skyland Town Center
The redevelopment of a former dilapidated strip shopping center originally acquired by the District of Columbia through eminent domain. The project is located in the Hillcrest neighborhood in Ward 7. This phase will include 3 separate buildings, including surface parking spaces for 267 cars: (1) free-standing 29,000 sq. ft. Lidl grocery store that will provide healthy, fresh food options to the underserved community (the first Lidl in DC); (2) approximately 9,211 sq. ft. of community-serving retail space and (3) a freestanding 2,500 sq. ft. drive-through Starbucks (the first drive-through Starbucks in DC).
Town Hall Education Arts Recreation Campus Phase 3
Building Bridges Development Corporation/Town Hall Education Arts Recreation Campus - Mixed-use facility which includestenants include children's hospital, school and early childhood agency services to LIP.Facility that houses nine nonprofit partners, including: ArtReach at THEARC, Boys and Girls Clubs of Greater Washington’s FRB Branch, Children’s National Health System/Children’s Health Fund, Covenant House Washington, Levine Music LIFT-DC, The Washington Ballet, Trinity Washington University and The Washington School for Girls. Town Hall Education Arts Recreation Campus (THEARC) is developed by a nonprofit called Building Bridges Across the River (BBAR) to address the economic, academic and social challenges facing families living east of the Anacostia River, in wards 7 and 8 - the poorest and most underserved communities in Washington, D.C. The development will be the third phase of THEARC which consists of two parts: construction of a new 92,000 sq. ft. building and renovation of a suite in one of the existing buildings. In total, the Phase III expansion project will cost $34 million. The new building will be home to four partner organizations: Children’s National Health System/Children’s Health Fund, the Bishop Walker School for Boys, The Phillips Collection and AppleTree Institute for Education Innovation. The new building will also include a black box theater and a community meeting room managed by BBAR. During the expansion, the suite previously used by the Children’s Health Center in an existing building will be renovated into a commercial teaching kitchen and café.
Nourish DC: Building Healthy, Prosperous Washington, D.C. Food Businesses and Communities
The Nourish DC Collaborative aims to build a strong, local food ecosystem that supports healthier neighborhoods, economic prosperity, and high-quality jobs in the District of Columbia, especially in communities that have experienced systematic underinvestment, poor health outcomes, and limited economic opportunities. Nourish DC provides food businesses with loans, technical assistance, and grants to emerging and existing food businesses in the District of Columbia, with a preference for businesses located in or owned by residents of underserved neighborhoods.

Low Income Investment Fund Fact Sheet

I strongly urge Congress to support the funding for the Department of the Treasury’s CDFI Fund….As a governing board member of Central States Development Partners, Inc., a national, certified Community Development Entity (CDE), I can personally attest to the measurable and lasting impact the CDFI Fund programs have on Main Street America. In my work with both Economic Growth Corporation and Central States Development Partners, I have witnessed firsthand how targeted federal investment through the CDFI Fund acts as a catalyst for private-sector growth in communities that need it most. These dollars support job-creating projects, from manufacturing, healthcare, and community facilities that increase access to vital community services needed within severely and deeply distressed communities.

-Denise Isaac, Economic Growth Corporation, Washington, DC

CDFIs support individuals, small businesses, community facilities in rural, metro, and Native communities in every state in the nation. CDFIs have enjoyed widespread bipartisan support for decades. They leverage federal government dollars with bank and other private sector support. They are a smart and efficient market solution the federal government should be proud to support.

-Donna Fabiani, Fabiani Advisors LLC, Washington, DC

Map of Low Income Investment Fund CDFI Branches and Stories