Private Sector Intervenes to Mitigate Gentrification in DC
- Nov 16, 2018
JBG SMITH Executive Vice President of Social Impact Investments Brian Allan (AJ) Jackson and Federal City Council COO Kevin Clinton are leading an effort to curb the deleterious impact of gentrification on families in the Washington, D.C., metro area. Named the Washington Housing Initiative, the partnership includes:
- JBG SMITH, an S&P 400 firm that owns, operates, invests in and develops properties in leading urban infill submarkets in and around Washington, DC. The company maintains a focus on placemaking by creating amenity-rich, pedestrian-friendly neighborhoods.
- The Federal City Council, an organization comprising D.C.’s business and professional community, formed to address the metro’s foremost challenges and opportunities.
The Federal City Council will establish The Washington Housing Conservancy, an independent public charity and an owner and operator of workforce housing in high-impact locations. The Washington Housing Initiative will also include the Impact Pool, a $100 million-$150 million investment vehicle—managed by JBG SMITH—that offers low-cost secondary financing to support the acquisition and development of affordable workforce housing in high-impact locations.
Listen to how this private-sector-led initiative plans to preserve housing affordability in changing communities throughout the D.C. metro.