Affordable Housing, Community, Homeownership, Loan Fund
District of Columbia
In April 2021, CIP provided a $934,000 acquisition loan to Medici Road to purchase a vacant lot in the Deanwood neighborhood of Washington DC’s Ward 7. Medici Road was founded by a graduate of CIP’s DC-Maryland-Virginia (DMV) Equitable Development Initiative (EDI) program. The loan was supported by funds from the Diversity in Development DMV Loan Fund (DiD-DMV), which was created to support developers of color in the DMV area using proceeds of a CDFI Program Financial Assistance award.
